Bally's Sees Sharply Wider Loss In Q4, Expects Revenue Growth

RTTNews | 926 days ago
Stocktwits
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

Tags: BALY
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Bally's Announces Construction And Financing Arrangement For Bally's Chicago Casino

Bally's Announces Construction And Financing Arrangement For Bally's Chicago Casino

Casino-entertainment company Bally's Corp. (BALY) announced Friday a refreshed Bally's Chicago Casino permanent site plan that features a planned 500-room, 34-story hotel tower into a single-phase construction project at the 30-acre former Tribune Publishing site, pending approval of the Chicago Department of Planning & Development.
RTTNews | 411 days ago
Taiwan Stock Market May Extend Winning Streak

Taiwan Stock Market May Extend Winning Streak

The Taiwan stock market has tracked higher in three straight sessions, gathering more than 750 points or 3.1 percent along the way. The Taiwan Stock Exchange now rests just beneath the 24,520-point plateau and it may add to its winnings again on Thursday.
RTTNews | 19 minutes ago
Singapore Stock Market May Extend Wednesday's Gains

Singapore Stock Market May Extend Wednesday's Gains

The Singapore stock market bounced higher again on Wednesday, one day after snapping the five-day winning streak in which it had climbed almost 70 points or 1.6 percent. The Straits Times Index now sits just above the 4,245-point plateau and it may pick up steam on Thursday.
RTTNews | 49 minutes ago
Malaysia Bourse May Add To Its Winnings On Thursday

Malaysia Bourse May Add To Its Winnings On Thursday

The Malaysia stock market rebounded on Wednesday, one day after ending the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,585-point plateau and it's expected to open in the green again on Thursday.
RTTNews | 1h 19min ago
Higher Open Called For Japan Stock Market

Higher Open Called For Japan Stock Market

The Japan stock market bounced higher again on Wednesday, one session after ending the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just above the 42,520-point plateau and it's expected to open to the upside again on Thursday.
RTTNews | 1h 34min ago
KOSPI May Reclaim 3,200-Point Level

KOSPI May Reclaim 3,200-Point Level

The South Korea stock market bounced higher again on Wednesday, one day after ending the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,190-point plateau and it may tick higher again on Thursday.
RTTNews | 1h 49min ago
Korea Interest Rate Decision Due On Thursday

Korea Interest Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate unchanged at 2.50 percent.
RTTNews | 2h 49min ago
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