Advertisement
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
Canadian Dollar Rises As Inflation Climbs
Swiss Market Ends Modestly Higher
European Stocks Recover After Weak Start, Close Broadly Higher
TSX Extends Gains To 10th Straight Session, Hits New Record High
Honda Cuts EV Sales, Investment Targets As It Shifts Focus
Bay Street Likely To Open On Cautious Note; Inflation Data In Focus
