Bally's Closes 2024 with Quarterly Revenue Down: $580.4 Million

Fourth Quarter 2024 Highlights:

• Consolidated Revenue: $580.4 million, a 5.1% decrease year-over-year from $611.7 million.
• Casinos & Resorts Revenue: $324.4 million, down 5.2% year-over-year from $342.3 million.
• International Interactive Revenue: $214.5 million, a 9.1% decrease year-over-year from $236 million.
• North America Interactive Revenue: $41.5 million, a 24.4% increase year-over-year from $33.4 million.

Full Year 2024 Highlights:

• Consolidated Revenue: $2,450.5 million, a slight increase from $2,449.1 million in the previous year.
• Casinos & Resorts Revenue: $1,363.1 million, relatively unchanged from $1,363.3 million in the previous year.
• International Interactive Revenue: $909.5 million, down from $973.2 million in the previous year.
• North America Interactive Revenue: $177.9 million, a significant increase from $112.6 million in the previous year.

Key Developments:

• Construction has begun on the permanent Chicago casino following the completion of demolition.
• Bally's has finalized transactions with Standard General and The Queen Casino & Entertainment.
• Queen's properties generated $57.6 million in fourth-quarter revenue and $225.2 million in full-year revenue.
• Bally's has canceled its fourth-quarter 2024 earnings call.

Robeson Reeves, Bally's Chief Executive Officer, described 2024 as a "transformational and transitional year" for the company, highlighting progress on casino projects and strategic transactions. Additional key points include:

• Growth in the U.K. market contrasted with weakness in other international markets.
• The North America Interactive segment demonstrated favorable performance despite some technical challenges.
• Progress continues on development projects in Chicago and Las Vegas.
• Remodeling work is underway at Queen's properties.

The company also provided information on non-GAAP financial measures, such as Adjusted EBITDA and Segment Adjusted EBITDAR, used to evaluate its operating performance.