Bally’s reports Q3 revenue $663.7M, consensus $668.49M

Robeson Reeves, Bally’s (BALY) Chief Executive Officer, commented, “Our solid third quarter results and recent strategic initiatives highlight further marked progress across multiple fronts on our transformation to the new Bally’s 2.0. We announced in October that Intralot S.A. completed its acquisition of Bally’s International Interactive business for EUR2.7 billion, comprised of EUR1.530 billion cash paid to Bally’s and 873.7 million new Intralot shares issued to Bally’s. Following the closing, Bally’s became the majority shareholder of Intralot with a 58% ownership interest. Importantly, we allocated a portion of the cash proceeds from the transaction to pay down approximately $1.3 billion of secured debt and outstanding revolver balances.”