Bally’s Corp Release Q1 Results Noting Positive Developments

Bally’s Corporation has released preliminary first-quarter results for the time ending March 31, 2021, noting positive developments and figures for March.

In an update to analysts, the company forecasted combined sales of more than $185 million and adjusted EBITDA of more than $50 million, up from $109.1 million and $22.1 million, respectively, last year.

It went on to say that the results were largely due to a month-to-month sales cadence that increased sharply in March as further COVID-19 constraints were eased across the region.

Extremely encouraged by trends

President and CEO George Papanier stated: “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 final financial reports are now pending the conclusion of the company’s quarter-end closure procedure, which requires management, the audit committee, and an independent auditor’s analysis.