Start Time: 16:30 January 1, 0000 5:21 PM ET
Bally's Corporation (NYSE:BALY)
Q4 2023 Earnings Conference Call
February 21, 2024, 16:30 PM ET
Company Participants
Jaymin Patel - Vice Chairman
Robeson Reeves - CEO
George Papanier - President
Marcus Glover - EVP and CFO
Charlie Diao - SVP, Finance and Corporate Treasurer
Conference Call Participants
Barry Jonas - Truist Securities
Jeff Stantial - Stifel
Jordan Bender - JMP Securities
Chad Beynon - Macquarie
Jonnathan Navarrete - TD Cowen
David Katz - Jefferies
Brandt Montour - Barclays
Operator
Good day, and welcome to Bally's Corporation's Fourth Quarter 2023 and Full Year Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. [Operator Instructions].
I'd now like to turn the call over to Charlie Diao, Senior Vice President and Treasurer for Bally's. Please go ahead.
Charlie Diao
Good afternoon, and thank you for joining us on today's call. The earnings release and presentation that accompany this call are available in the Investor Relations section of our website at www.ballys.com.
With me today are our Chief Executive Officer, Robeson Reeves; our President, George Papanier; our CFO, Marcus Glover; and our Vice Chairman of the Board, Jaymin Patel.
Before we begin, we would like to remind everyone that comments made by management today will contain forward-looking statements. These forward-looking statements include plans, expectations, estimates, and projections that involve significant risks and uncertainties. These risks are discussed in the company's earnings release and SEC filings. Financial results may differ materially from the results discussed in these forward-looking statements.
In addition, during today's call, management will refer to certain non-GAAP financial measures. Reconciliations to the most comparable GAAP financial measures are included in the schedules contained in our earnings release. We do not provide a reconciliation of forward-looking non-GAAP financial measures due to our inability to project non-recurrent expenses and one-time costs. This call is also being broadcast live on our Investors' website and will be available for replay shortly after the completion of this call.
Let me hand the call over to Robeson.
Robeson Reeves
Thank you, Charlie. We're pleased to share our thoughts on Bally's solid fourth quarter and 2023 operating performance, as well as a strong forward growth prospect. Our fourth quarter revenues grew a robust 6% year-over-year, reaching 612 million, with increases across all three of our operating segments. Casinos & Resorts achieved a 7% revenue increase and maintained strong adjusted EBITDA margins as we successfully offset ramp-up costs in Chicago and the wind-down Tropicana.