Bally’s Corporation has announced a 5.8% year-on-year increase in company-wide revenue for the second quarter of 2025, reaching $657.5 million.
The growth was significantly bolstered by the company’s Casinos & Resorts division, where revenue climbed 14.7% to $393.3 million.
This surge was largely driven by the integration of four regional gaming properties following the February 2025 merger with The Queen Casino & Entertainment.
The North America Interactive segment also saw substantial growth, with revenue rising 21.5% to $56.5 million, reflecting strong performance in iGaming and online sports betting, further supported by Queen’s interactive operations. In contrast, International Interactive revenue declined 10.2% to $206.1 million.
The company noted this was due to the 2024 divestiture of its Asian business; excluding this sale, the segment’s revenue would have increased by 10.0%, led by an 8.8% rise in the UK and continued growth in Spain.
Segment Profitability
On the profitability front, the Casinos & Resorts division reported a 6.2% increase in adjusted EBITDAR to $106.0 million, with strong results from its Quad Cities, Vicksburg, and Baton Rouge properties. This was partially offset by heightened competition impacting its Shreveport, Evansville, and Dover locations.
The International Interactive segment saw its adjusted EBITDAR edge up 1.1% to $82.2 million, as growth in the UK and Spain compensated for the exit from Asia. A key highlight was the North America Interactive division’s return to profitability, posting an adjusted EBITDAR of $2.5 million compared to a $2.2 million loss in the prior year.
Strategic Moves
The quarter was marked by several significant strategic developments. In July 2025, Bally’s entered into an agreement for Intralot SA to acquire its International Interactive business in a deal valued at €2.7 billion ($3.1 billion). Upon completion, which is expected in Q4 2025, Bally’s will become Intralot’s majority shareholder, creating a powerful combined gaming technology entity.
Earlier, in April, the company confirmed a $133 million investment in Australia’s Star Entertainment Group. Additionally, Bally’s continues to advance its proposed $4 billion casino resort project in the Bronx, New York, pending the acquisition of a gaming license.
Past Developments
This Q2 performance follows a first quarter in which revenue had declined by 4.7% for Bally’s, primarily due to the divestiture of the Asian interactive business. However, the underlying strength of the company’s domestic operations was evident even then, with the Casinos & Resorts and North America Interactive segments posting growth of 2.6% and 12.5%, respectively, during that period.
The first quarter also saw the finalization of the acquisitions of The Queen Casino & Entertainment and Standard General.
