Bally’s slips to full-year loss as Covid-19 pushes revenue down 28.8%
| By Robert Fletcher
Bally’s Corporation has reported a net loss of $5.5m for its 2020 financial year after the temporary closure of its land-based casinos in the US led to a 28.8% drop in revenue.
Overall revenue for the 12 months through to December 31 stood at $372.8m (£266.8m/€309.7m), down from $523.6m in the previous year, when it still used the Twin River brand name.
Revenue was down across all business segments as the temporary closure of its casinos due to novel coronavirus (Covid-19) restrictions in states across the US.
Gaming remained by far the operator’s primary source of income, but revenue fell 20.7% year-on-year to $291.7m, while racing revenue more than halved from $13.1m to $6.4m.
Closures meant hotel revenue fell by 36.7% to $24.7m, while food and beverage revenue declined 54.1% to $32.1m and other revenue 47.0% to $17.8m.