Bally's Q1 revenue $598.7M (+9.2% YoY); net income $178.3M; raises 2023 Adj. EBITDAR guidance

Bally's Corp

2022-Q3 EPS reported $3.24 revenue$598,720,000

Revenue $598.7M (+9.2% YoY); net income $178.3M vs $1.9M prior year; Adj. EBITDA $126.4M (+10.2% YoY).
Raised 2023 Adj. EBITDAR guidance to $665-700M; revenue outlook unchanged $2.5-2.6B; capex guidance cut to $160M.
CFO Robert Lavan resigned; Marcus Glover appointed new EVP/CFO with base salary $625,000 and 100% bonus target.
Jaymin B. Patel appointed Vice Chair to lead new Operational Integration Committee for global cost streamlining.
Announced partnerships with Kambi & White Hat Gaming for Bally Bet relaunch; repurchased 1M shares for $19.8M.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Marcus Glover

Executive Vice President and Chief Financial Officer

BALY · Bally's Corp

Effective: 2023-05-05
Filed: May 9, 2023, 7:59 PM ET

On May 5, 2023, Bally’s appointed Marcus Glover, age 48, as Bally’s Executive Vice President and Chief Financial Officer.

Departed

Robert Lavan

Executive Vice President and Chief Financial Officer

BALY · Bally's Corp

Effective: 2023-05-05
Successor: Marcus Glover
Filed: May 9, 2023, 7:59 PM ET

On May 5, 2023, Robert Lavan resigned as Executive Vice President and Chief Financial Officer of Bally’s Corporation.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bally's Corp reported first quarter ended March 31, 2023 results: revenue $598.7 million, net income $178.3 million. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $598.7 million
Net income: $178.3 million
Guidance: raised
Result: reported results

Exact text from the filing

Bally's Corporation (NYSE: BALY) today reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Highlights • Revenue of $598.7 million, an increase of 9.2% year-over-year • Net income of $178.3 million compared to $1.9 million in prior year

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bally's Corp reported the year ending December 31, 2023 results: revenue $2.5 billion to $2.6 billion. Guidance raised.

Period: the year ending December 31, 2023
Revenue: $2.5 billion to $2.6 billion
Guidance: raised
Result: guidance update

Exact text from the filing

Adjusted EBITDA losses in North America Interactive and before approximately $124 million of rent expense (cash rent of $119 million). Revenue estimates remain in the range of $2.5 billion to $2.6 billion. We are also reducing our 2023 capital expenditure guidance from $170 million to $160 million, with maintenance capital expenditures at the casinos of $50

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcus Glover was appointed as Executive Vice President and Chief Financial Officer at Bally's Corp.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On May 5, 2023, Bally’s appointed Marcus Glover, age 48, as Bally’s Executive Vice President and Chief Financial Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Lavan resigned as Executive Vice President and Chief Financial Officer at Bally's Corp.

Action: resigned
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On May 5, 2023, Robert Lavan resigned as Executive Vice President and Chief Financial Officer of Bally’s Corporation.

View on SEC.gov

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Bally's Corp filing history →

Source: SEC EDGAR

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