Bally's Q2 revenue up 2.5% to $622M, net loss widens, announces merger at $18.25/sh

Bally's Corp

2024-Q2 EPS reported -$4.85 revenue$1,240,139,000

Revenue $621.7M (+2.5% YoY); net loss of $60.2M vs $25.7M loss in Q2 2023.
Definitive merger with QC&E at $18.25/share cash; stockholders can elect to retain equity.
GLPI transactions: $940M for Chicago construction funding, $395M sale-leaseback KC & Shreveport, $735M Lincoln.
Segments: C&R $343.1M (+3%), Int'l Interactive $229.4M (-7.4%), NA Interactive $49.2M (+94.7%).
FY2024 guidance: rev $2.5-2.7B, adj EBITDAR $655-695M; expects lower end; capex cut $50M to $115M.

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