Bally's Sees Sharply Wider Loss In Q4, Expects Revenue Growth
(RTTNews) - While reporting preliminary results for the fourth quarter and full year 2022 on Monday, casino-entertainment company Bally's Corp. (BALY) said it expects to report a net loss of $476.80 million, including non-cash goodwill and asset impairment charges of $464.0 million, compared to a net loss of $115.29 million in the year-ago quarter.
The company also sees revenues of $576.7 million for the fourth quarter, compared to $547.67 million last year.
On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.01 per share on revenues of $568.89 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company projects revenues between $2.5 billion and $2.6 billion for the year. The Street is looking for revenues of $2.46 billion for the year.
Separately, the company announced that CEO Lee Fenton will step down and Robeson Reeves, President - Interactive, will take over as the new CEO, effective March 31, 2023. Additionally, George Papanier, long-time Bally's executive, will become Bally's sole President.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Bally's Announces Construction And Financing Arrangement For Bally's Chicago Casino
Thai Bourse May Halt Losing Streak On Thursday
Australian Market Slightly Lower
Indonesia Shares Tipped To Open In The Green
Hong Kong Shares Poised To End Two-Day Slide
China Stock Market May Stop The Bleeding On Thursday
Taiwan Stock Market May Extend Winning Streak
