Bally’s Corporation reported a 28.6% increase in revenue for Q4 2025, reaching $746.2 million, fueled by both land-based and online growth across its global operations. The results mark the company’s first quarter following the completion of its €2.7 billion (£2.3 billion) merger with Intralot, which reorganized Bally’s Intralot division and added a controlling stake in international online operations.

The UK market was a key contributor to the quarter’s performance, with online revenue up 6.3% in constant currency from Q4 2024. Bally’s cited increased new player volumes and ongoing momentum in sports betting as drivers. The growth comes ahead of the UK’s planned online casino tax hike from 21% to 40%, a regulatory change Bally’s says it is well positioned to navigate due to high margins and strategic planning.

CEO Reflects on Transformational Year

Bally’s Intralot B2C segment generated $236.5 million for the quarter, up 13.9% year-on-year. Meanwhile, the company’s interactive North American operations surged 55.4% to $62.3 million, moving the division into EBITDA-positive territory at $0.8 million compared with a $10.2 million loss in the same period in 2024. The increase reflects robust performance in both iGaming and sports betting, along with leadership initiatives focused on customer experience, automation, and AI integration.

Chief Executive Officer Robeson Reeves described 2025 as “a successful and truly transformational year for Bally’s.” He noted that the company expanded its portfolio both domestically and internationally, strengthened its balance sheet, and positioned itself for growth across multiple channels. “Our strategic initiatives of the past year have created a scaled, growing, global omni-channel provider of retail and online experiences,” Reeves said. “We continue to demonstrate strategic and prudent use of our capital resources and balance sheet to drive growth and returns for our stakeholders.”

Bally’s reported (pdf) total quarterly revenue of $746.2 million, compared with $580.4 million in Q4 2024. Growth was supported by the land-based casino portfolio and the integration of Intralot’s B2B and B2C operations. North American interactive gaming showed particular strength, driven by the expansion of online sports betting and casino offerings.

Operational Highlights and Strategic Developments

Bally’s continued expansion in major domestic markets, including ongoing development at Bally’s Chicago and Las Vegas, alongside plans for a $4 billion megaresort in The Bronx, represents a major focus for 2026. The Las Vegas project is being developed on the former Tropicana site to support the 2028 season of the Oakland Athletics. The company also holds a 38% stake in Australia’s Star Entertainment Group.

Reeves emphasized the company’s global growth strategy, integrating domestic, international, and digital channels while maintaining a focus on operational efficiency and capital management. With ongoing momentum in iGaming, sports betting, and newly merged international operations, Bally’s aims to leverage both scale and market positioning to navigate regulatory changes and capture market share in high-growth regions, particularly the UK and North America.