Bally’s: Q2 Earnings Snapshot
PROVIDENCE, R.I. (AP) _ Bally’s Corporation (BALY) on Thursday reported second-quarter net income of $59.5 million.
On a per-share basis, the Providence, Rhode Island-based company said it had net income of 98 cents. Earnings, adjusted for non-recurring gains, came to 32 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The hotel casino operator posted revenue of $552.5 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $601.9 million.
Bally’s expects full-year revenue in the range of $2.2 billion to $2.3 billion.
Bally’s shares have dropped 40% since the beginning of the year. The stock has dropped 52% in the last 12 months.