Bally’s Corporation (NYSE:BALY) Q1 2024 Earnings Conference Call May 1, 2024 4:30 PM ET

Company Participants

Charlie Diao – Senior Vice President and Treasurer
Robeson Reeves – Chief Executive Officer
George Papanier – President
Marcus Glover – Chief Financial Officer

Conference Call Participants

Barry Jonas – Truist
David Katz – Jefferies
Jeff Stantial – Stifel
Chad Beynon – Macquarie
Colin Mansfield – CBRE Institutional Research

Operator

Good day, and welcome to Bally’s Corporation’s First Quarter 2024 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, sir.

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; and our Chief Financial Officer, Marcus Glover. 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-recurring expenses and one-time costs. Finally, I also want to note that we will not be commenting on the special committee process during our prepared remarks or during the Q&A portion of today’s call. We refer you to our news announcements from March 12 and March 28. This call is also being broadcast live on our Investors’ website and will be available for replay shortly after the completion of this call.

With that, I’m going to hand it to Robeson Reeves, our CEO.

Robeson Reeves

Thank you, Charlie. We’re pleased to have you join us today to discuss Bally’s solid performance in the first quarter of 2024 and to provide updates on our growth prospects going forward. First quarter revenues increased by 3% year-over-year reaching $618 million with gains in two of our three operational segments. Our Casinos and Resort segments saw a 4% increase in revenue and our North America Interactive segment experienced a substantial 70% growth in revenue. The International Interactive segment saw a 4% decline, however, primarily due to our operations outside the UK. Notably, the UK continued to perform exceptionally well, posting a 12% increase in revenues on a U.S. dollar basis and a 7% rise on a constant currency basis.