Bally’s posts upbeat preliminaries after encouraging March trading

Image source: Shutterstock and Bally (logo)

Bally’s Corporation has announced preliminary Q1 results for the trading period ended March 31, 2021, citing encouraging trends and numbers for March. 

Updating investors, the firm estimated consolidated revenue at greater than $185m and adjusted EBITDA upwards of $50m, compared to $109.1m and $22.1m, respectively, year-on-year. 

The results, it added, were due in large part to a month-to-month revenue cadence that accelerated dramatically in March as more COVID-19 restrictions were relaxed across the country.  

George Papanier, President and CEO, said: “We are extremely encouraged by our trends and March numbers. Increased demand assisted by a relaxation of COVID-19 restrictions contributed to outstanding performance toward the end of the quarter, which, based on early indications, has continued into April. 

“We believe this combination of factors will set us up for a strong 2021 as we continue to welcome more and more Bally’s customers back to our casinos, as well as enhance our igaming platform.”

Bally’s actual operating results remain subject to the completion of its quarter-end closing process, which includes review by management, the audit committee and its independent auditor.