BALY - Bally's GAAP EPS of $3.24 revenue of $598.72M beats by $3.41M

2023-05-09 07:11:16 ET

• Bally's press release ( NYSE: BALY ): Q1 GAAP EPS of $3.24.
• Revenue of $598.72M (+9.2% Y/Y) beats by $3.41M .
• "Bally's is raising the low end of its Adjusted EBITDAR guidance range it provided on February 13, 2023, for the year ending December 31, 2023, to a new range of $665 million to $700 million, including a range of $40 million to $50 million of Adjusted EBITDA losses in North America Interactive and before approximately $124 million of rent expense (cash rent of $119 million). Revenue estimates remain in the range of $2.5 billion to $2.6 billion. We are also reducing our 2023 capital expenditure guidance from $170 million to $160 million, with maintenance capital expenditures at the casinos of $50 million, growth capital expenditures at casinos of $70 million and lowering software development costs ( SDC ) to $40 million."

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