$755.7M Revenue, 28.3% Growth: Bally’s Delivers Strong Q1 Under CEO Robeson Reeves

Bally’s Corporation reported strong Q1 2026 financial results as the company continued expanding across casino operations, Bally’s Intralot B2C/B2B, North America Interactive, and large-scale North American development projects under CEO Robeson Reeves.

The company generated $755.7 million in consolidated revenue for the quarter ended March 31, 2026, representing a 28.3% year-over-year increase. Growth was driven by continued expansion across Casinos & Resorts, Bally’s Intralot operations, and North America Interactive.

Despite strong revenue growth, Bally’s reported a net loss of approximately $161.9 million during the quarter as the company continued investing across development projects, refinancing initiatives, and interactive expansion.

Bally’s also continued strengthening its balance sheet during the quarter through refinancing initiatives and a new $1.1 billion credit facility due 2031.

Queen Acquisition and Regional Casino Growth Boost Land-Based Performance

Bally’s Casinos & Resorts revenue increased 8.1% year over year to $379.7 million, supported by the integration of Queen Casino & Entertainment properties acquired in February 2025.

The company reported particularly strong performance from Bally’s Baton Rouge following its landside transition completed in late 2025, while Marquette also contributed additional growth after moving landside in February 2026. Chicago and Quad Cities operations additionally posted strong year-over-year gains during the quarter.

Casinos & Resorts Segment Adjusted EBITDAR increased 1.2% year over year to $96.2 million despite elevated competition in several regional markets.

UK Interactive Growth and Online Wagering Drive Digital Momentum

Bally’s Intralot B2C revenue increased 31% year over year to $239.9 million, driven by continued momentum in the UK market and the integration of Intralot’s B2C operations. Bally’s Intralot previously reported €520.6 million in FY2025 revenue following the integration of Bally’s International Interactive operations under Robeson Reeves. Bally’s Intralot Hits €520.6M Revenue Under Reeves

According to Bally’s, UK online revenue increased 10.5% in constant currency during the quarter despite higher remote gaming duties that went into effect on April 1st, against which Bally’s had already disclosed a mitigation plan in 2025.

The company said active player volumes continued increasing while weaker operators reduced marketing activity following the tax changes.

Revenues in Spain also remained stable during the quarter, increasing 1.7% year over year in constant currency.

Bally’s Intralot B2B revenue additionally reached $74 million during the quarter following the completion of Intralot’s €2.7 billion merger with Bally’s International Interactive to form Bally’s Intralot under CEO Robeson Reeves. Intralot Completes €2.7B Bally’s Merger to Form Global Giant However, the B2B segment saw a revenue decline in the US due to softer lottery activity.

Meanwhile, North America Interactive revenue rose 35.9% year over year to $60.5 million as Bally Bet and online wagering operations expanded across multiple gaming verticals.

North America Interactive recorded a negative Segment Adjusted EBITDAR of $7.1 million during the quarter, representing a $0.9 million year-over-year improvement as operational efficiencies and customer retention initiatives continued progressing.

Chicago, Bronx and Las Vegas Projects Continue Advancing

Beyond operational growth, Bally’s continued progressing several major development projects expected to shape its long-term expansion strategy.

The company confirmed continued construction progress on Bally’s Chicago, which will become the only casino located within Chicago city limits and the largest casino property in Illinois.

In April, Bally’s celebrated the topping out of the project with the completion of structural steel.

Bally’s also continued advancing Bally’s Bronx following receipt of its Gaming Facility License from the New York State Gaming Commission. The $4 billion integrated resort project is expected to become the largest private development in the borough’s history.

During the quarter, Bally’s completed several major capital commitments related to the Bronx development, including the $500 million New York gaming license fee payment, alongside a $115 million contingent consideration for the golf course concession and securing of approximately 16 acres of parkland designated for the resort footprint.

Meanwhile, Bally’s Las Vegas development on the former Tropicana site continues moving forward alongside the Las Vegas Athletics stadium project.

Refinancing and International Investments Strengthen Bally’s Growth Strategy

In Q4 2025, following confirmation of suitability by Australian regulators, Bally’s converted its loan to The Star Entertainment Group into a 38% equity interest. In early May 2026, Star completed a full refinancing of its prior debt with a US$390 million facility from WhiteHawk Capital Partners, substantially increasing the company’s liquidity.

In February, Bally’s entered into a new $1.1 billion credit facility due 2031 and completed the previously announced sale-leaseback transaction involving the Lincoln Casino Resort real estate assets.

The company used proceeds from the Intralot transaction, portions of the new term loan facility, and proceeds from the Lincoln sale-leaseback transaction to fully repay its previously outstanding $1.47 billion term loan due 2028.

Bally’s shares (NYSE: BALY) rose approximately 7% following the earnings announcement despite remaining down roughly 29% since the beginning of 2026, reflecting continued investor focus on the company’s expansion spending, refinancing activity, and long-term profitability outlook.

Bally’s Positions for Long-Term Multi-Market Growth

Looking ahead, Bally’s expects continued momentum across North America Interactive, UK online operations, and regional casino performance as the company advances multiple development projects across North America.

The company remains focused on integrating recent acquisitions, improving operational efficiencies, and expanding its omni-channel gaming presence across regulated global markets. Bally’s also expects long-term growth opportunities from Bally’s Chicago, Bally’s Bronx, and Bally’s Las Vegas developments while continued investment across digital gaming and international operations remains central to its broader expansion strategy.

Source: Bally’s Corporation