Bally's Corp. executives achieved great success in showcasing the company's future prospects in Chicago, Las Vegas, and online. The company reported a total revenue of $622 million, a 3% increase year-over-year.
Future igaming and sports betting revenues expected to grow
Bally's digital business seems to have gained momentum in the second quarter.
CEO Robeson Reeves noted that its Rhode Island igaming monopoly business generated $6.7 million in revenue this quarter, marking the first time since the operation began.
The adjusted EBITDAR loss for the North American digital business was $7 million. He also stated that the company expects "the losses to decrease as the year progresses, thanks to our strong igaming positions in New Jersey, Pennsylvania, and Rhode Island."
In the UK, igaming revenue grew by 9% year-over-year. CFO Marcus Glover called it the "crown jewel" of the international business.
The company's Bally Bet sports betting platform also launched last month in Massachusetts and Maryland. Reeves said that by the end of this year, the sports betting plan is to launch in four more markets. He mentioned that costs would decrease as the platform transitions from internal technology to services from Kambi and White Hat Gaming.
