Boosted in part by a new casino in Baton Rouge, Bally’s Corp. increased its fourth-quarter revenue 28.6 percent to $746.2 million. Bally’s reported the numbers late on March 16.
As has become customary with the company, Bally’s did not report whether it made a profit or posted a loss, either for the quarter or for full-year 2025. It ended 2025 with $108.2 million in cash on hand and long-term debt of $4.5 billion, up from $3.3 billion in 2024.
The company’s casino division grew revenue 12.9 percent in the quarter to $366.2 million. Digital-gambling revenue for North America rose 55.4 percent to $62.3 million in both igaming and sports betting.
Fourth-quarter cash flow for the casino division grew 5.6 percent to $85.3 million. In North American online wagering, a $10.2 million negative return on investment pivoted to a $800,000 cash-flow return. Online revenue rose 6.3 percent in both Spain and the United Kingdom.
Non-North American online results have been folded into Bally’s Intralot, a merged entity whose consumer-facing revenue was $236.5 million or a 13.9 percent improvement. In October, Bally’s sold its international online businesses to Intralot for €2.7 billion and the assumption of a controlling stock position.
For the entirety of 2025, Bally’s casino revenue slipped from $1.3 billion in 2024 to $1.2 billion. That was more than offset by exponential increases in business-to-customer online activity (to $753 million), business-to-business online revenue ($97.3 million), and North American digital gambling ($196.3 million).
In a rare public statement, Bally’s CEO Robeson Reeves said, “Our fourth quarter completed a successful and truly transformational year for Bally’s. In 2025, we reshaped and expanded our portfolio both domestically and internationally, online and in retail, while strengthening our balance sheet and positioning the company for near- and long-term growth.”
Reeves highlighted construction at Bally’s Chicago and the selection of the company to develop a $4 billion megaresort in The Bronx. He was less precise about the planned Bally’s Las Vegas, saying “We continue to move forward with our development” and that construction is “already underway to support the A’s 2028 season opening.”
Reeves concluded, “Our strategic initiatives of the past year have created a scaled, growing, global omni-channel provider of retail and online experiences. We continue to demonstrate strategic and prudent use of our capital resources and balance sheet to drive growth and returns for our stakeholders. Combined with our operational expertise and long-term vision, we are aggressively pursuing and executing on the many growth opportunities before us.”
