Bally's Corporation reported a 20.5% rise in second-quarter revenue to $792.2 million for the period ended June 30, 2026, against a net loss of $163.98 million, of which $146.1 million was attributable to the company. The half-year loss came to about $308 million.
Debt stood at about $4.5 billion at June 30. Operating cash flow was negative to the tune of about $265.9 million over the six months, and net interest expense ran at nearly $229 million. The company said there are substantial doubts about its ability to continue as a going concern without completing a planned monetisation of assets and raising more debt or equity.
Operations
Every main division added to the top line. Casinos & Resorts grew 2% to $401 million, helped by the land-based openings of Bally's Baton Rouge and Marquette and by growth in Chicago and Quad Cities. North America Interactive rose 16.9% to $66.1 million, with Segment Adjusted EBITDAR of $3 million, $500,000 more than a year earlier. Bally's Intralot B2C added 22.3% to $243.5 million. UK online revenue grew 11.6% in constant currency, Spain 15.1%. Visitation across the portfolio rose 4.3% and Segment Adjusted EBITDAR 3.4% to $109.6 million. Competition in Atlantic City and East St. Louis took part of the gain.
The quarter was the first to reflect the UK gambling tax increase from 21% to 40%, in force since April 1. The negative gross effect on B2C Segment Adjusted EBITDAR was about $39 million, with roughly 65% offset by revenue growth and cost control. Bally's Intralot B2B generated $79.5 million and now includes Intralot's B2B and B2G operations after the 2025 deal.
Chicago and new projects
The balance sheet has sharpened attention on Chicago, where Bally's is building a permanent casino at a cost of about $1.7 billion. The company says construction is moving and opening is targeted for early 2027. Twenty-seven aldermen signed a letter calling for work to resume, among them Brian Hopkins of the 2nd ward. Chicago is counting on casino tax receipts to support underfunded pension funds. Hopkins said the temporary casino is running below expectations and questioned whether the permanent one would reach the revenue assumed when the project was approved. The company continues to work with Gaming and Leisure Properties on financing for the build.
Other projects include Bally's Bronx at $4 billion, due to open by 2030, with 3 million sq ft of gaming space, a 500-room hotel, a 2,000-seat event centre and an 18-hole golf course. The licence cost $500 million, with a further $115 million for the golf course concession in the first quarter. Bally's Intralot announced a mandatory offer for Evoke PLC in June; regulatory approvals are pending.
