Bally’s reports 28.6% revenue growth for Q4 2025

Bally’s Corporation has reported preliminary financial results for the fourth quarter and full year ending December 31, 2025, with total Q4 revenue reaching $746.2m, up 28.6% year-on-year. 

Casinos & Resorts revenue stood at $366.2m, up 12.9%, supported by the addition of properties from The Queen Casino & Entertainment transaction completed earlier in 2025. Bally’s Intralot B2C revenue rose 13.9% to $236.5m, reflecting growth in the UK and Spain alongside the integration of Intralot’s B2C operations. 

North America Interactive revenue increased 55.4% to $62.3m, driven by growth in iGaming and sports betting. The segment also reported positive adjusted EBITDAR of $0.8m compared to a loss in the prior year.

For the full year, total revenue reached $2.44bn. Bally’s did not disclose net income in the preliminary release. Adjusted EBITDAR for the Casinos & Resorts segment rose 5.6% to $85.3m in Q4.

During the quarter, Bally’s completed the combination of its International Interactive business with Intralot in a €2.7bn ($2.9bn) transaction, forming Bally’s Intralot. 

The operator holds a 58% controlling interest and consolidates its financial results. The business is now structured across four segments: Casinos & Resorts, Bally’s Intralot B2B, Bally’s Intralot B2C and North America Interactive. 

Bally’s also advanced several land-based developments, including the opening of a new landside complex in Baton Rouge following a $160m renovation. 

In New York, the operator secured a license to develop a casino resort in the Bronx, with plans for 3,500 slot machines, 210 table games and a 500-room hotel.

Bally’s CEO, Robeson Reeves, said: “Our fourth quarter completed a successful and truly transformational year for Bally’s.”

Reeves added: “We reshaped and expanded our portfolio both domestically and internationally, online and in retail.” 

The operator also refinanced its debt, entering a new $1.1bn credit facility and completing a sale and leaseback of its Lincoln Casino Resort real estate assets. 

Bally’s continues to invest in its US land-based portfolio. Earlier this month, the operator completed a transition of its Marquette property in Iowa from a riverboat to a permanent landside facility, adding gaming capacity and new amenities.