Bally’s Q4 2025 Revenue Surges 28.6% as Casino Expansion and Online Gaming Fuel Bold ‘Bally’s 2.0’ Transformation

In a year that Bally’s Corporation is calling nothing short of transformational, the gaming and entertainment giant has closed out 2025 with a staggering 28.6% jump in revenue, signaling a bold new era for the company as it doubles down on both physical expansion and digital dominance. With a record $746.2 million in preliminary fourth-quarter revenue, Bally’s is not just playing the game—it’s rewriting the rules.

The Numbers Tell a Story of Aggressive Growth

Providence, Rhode Island-based Bally’s reported preliminary revenue of $746.2 million for Q4 2025, a sharp climb from $580.4 million in the same quarter of 2024. This surge is being fueled by a multi-pronged strategy: newly acquired regional casinos, relentless expansion in North American sports betting and iGaming, and a rapidly growing international online gaming footprint.

But it’s not all smooth sailing. While the top line is booming, certain segments are still bleeding cash as Bally’s pours resources into its aggressive expansion. The North America Interactive division, which includes online betting and gaming, generated $62.3 million in revenue but posted a slim $0.8 million in adjusted EBITDAR—a vast improvement from a $10.2 million loss a year earlier, yet still a reminder of the razor-thin margins in digital gaming. On a full-year pro forma basis, the division lost $9.2 million.

Corporate costs are also weighing heavily, with a fourth-quarter adjusted EBITDAR loss of $15.9 million in the corporate and other segment, and a full-year pro forma loss of $69.2 million.

Traditional Casinos Remain the Cash Cow

Despite the digital push, Bally’s traditional casino properties are still the company’s profit engine. The Casinos and Resorts segment brought in $366.2 million in revenue during Q4, a 12.9% increase year over year, and produced $85.3 million in adjusted EBITDAR. Much of this growth is credited to the addition of four regional gaming properties acquired through the Queen Casino and entertainment deal, which has significantly expanded Bally’s footprint across multiple U.S. markets.

International Online Gaming: The New Frontier

Bally’s is also making serious waves overseas. Its Intralot B2C business recorded $236.5 million in fourth-quarter revenue, up 13.9% from the previous year. Growth in key markets like the United Kingdom and Spain has been a major driver, especially as the UK’s online casino sector continues to see explosive momentum.

The company’s international ambitions reached a new peak with the completion of a roughly $3 billion transaction combining its International Interactive business with Intralot, creating Bally’s Intralot—a global iGaming and lottery operator in which Bally’s now holds a 58% controlling stake. This move has positioned Bally’s as a formidable player on the world stage, with eyes on both established and emerging markets.

Physical Expansion: Building the Future

Bally’s isn’t just betting on digital—it’s also investing billions in bricks and mortar. In December, the company opened a new landside entertainment complex at Bally’s Baton Rouge following a $160 million redevelopment that replaced its riverboat casino with a modern hotel, upgraded gaming floor, and new dining venues.

Looking ahead, Bally’s holds a license to build a $4 billion casino and entertainment complex in Ferry Point Park in the Bronx, while major developments in Chicago and Las Vegas are also in the works. These projects are part of what the company is calling “Bally’s 2.0″—a comprehensive reimagining of its brand and business model for the next decade.

Leadership Calls It a “Transformational Year”

“This was a truly transformational year for Bally’s,” said Robeson Reeves, Bally’s Chief Executive Officer. “We reshaped and expanded our portfolio both domestically and internationally, online and in retail, while strengthening our balance sheet and positioning the company for near- and long-term growth.”

Reeves’ comments underscore the company’s confidence in its strategy, even as it navigates the financial headwinds of rapid expansion. The Bally’s 2.0 vision is about more than just growth—it’s about building a diversified, resilient gaming empire that can thrive in an increasingly competitive and regulated global market.

What’s Next?

Bally’s said its Q4 results remain preliminary and that it plans to file an extension for its 2025 annual report while it completes internal review and audit work. Final figures could change when the company submits its full Form 10-K.

But one thing is clear: Bally’s is not slowing down. With a bold vision, deep pockets, and a willingness to disrupt itself, the company is positioning itself at the forefront of the next wave of gaming innovation—both online and off.

Featured image: Bally’s / Canva

The post Bally’s Q4 revenue jumps as casino expansion and online gaming push growth appeared first on ReadWrite.

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