Bally’s recently released a report on its Q1 revenue. Compared to Q1 2023, the platform has seen a whopping 70.2% surge in North America revenue.
The quarterly release report also showed that online gaming in Canada and the US generated 41.5 million dollars in revenue. In comparison, the sector generated 24.4 million dollars at the start of 2023.
Bally’s has reported a net loss of 179.3 million dollars in 2024 Q1. Robeson Reeves, the Chief Executive Officer of Bally’s, also talked about the report. According to Reeves, 2024 has been a solid start for Bally’s, generating revenue growth in the North American Interactive Segments.
Across all the sectors, Bally’s has witnessed a 3.3% yearly revenue surge to 618.5 million dollars. As one of the best online casinos USA, Bally’s generated 516.1 million dollars in gaming revenue, a hike of 6% compared to 2023. At the same time, its casino and resorts generated 342.3 million dollars in revenue, a surge of 4.1%.
Clearly, online casino gaming is the driving force behind Bally’s success. Reeves stated that the casino is gaining market share in Pennsylvania and New Jersey. Moreover, they plan on launching iGaming ventures in Rhode Island shortly.
Throughout April, the state has seen steady growth in iGaming revenues. With the momentum Bally’s has built, the casino can keep growing throughout the year.
When it comes to the net loss in 2024 Q1, Bally’s believes the primary culprit is bad weather. According to the casino, the poor weather conditions kept people indoors. Furthermore, the construction of the Providence Bridge had an impact on vehicular movement, resulting in a financial setback for Bally’s.
Although the casino has faced challenges in Q1, it is undeterred in its roadmap for 2024. Bally’s expects the North American Interactive segment to generate $150 million to $200 million in 2024.
The casino is also evaluating new initiatives and business areas to centralize its operations.
