BALY Bally's Corp

Overview and Growth

Bally's Corp generated $2.45B of revenue in fiscal 2024, with net loss of $567.75M and an operating cash inflow of $114.00M. At $2.45B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 0.1% from $2.45B in fiscal 2023, increasing the company’s operating scale. Diluted earnings per share were -$11.71, translating the period’s attributable earnings into the amount reported for each diluted share. The company employed $5.86B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.42x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The reported operating result was an operating loss of $258.33M, reflecting costs that exceeded gross profit. An operating margin of -10.5% reflected costs exceeding revenue-level gross profit by 10.5% of sales. The bottom-line result was a net loss of $567.75M after operating, financing, tax, and other recognized items. Net margin was -23.2%, reflecting a loss equal to 23.2% of reported revenue. EBITDA was $121.22M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $552.50M, before the effect of income taxes. Measured against revenue, the pretax deficit represented 22.5%. The company recognized $15.25M of income tax for the period, completing the transition from pretax income to net income. The net loss equaled 9.7% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $187.50M in fiscal 2023 to $567.75M.

Liquidity and Capital Structure

At period end, the $5.86B asset base was financed through $5.83B of liabilities and $30.90M of equity. The near-term balance sheet paired $447.87M of current assets with $677.81M of current liabilities at the reporting date. Current assets covered only 0.66x of current liabilities, so current liabilities exceeded current assets at period end. Cash and equivalents totaled $171.23M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 25.3% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $3.32B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 107.4x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 56.6%, showing how much of the asset base was matched by borrowing. Equity equaled 0.5% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 99.5%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 2.9%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 14.6% from $6.86B in fiscal 2023, leaving current total assets lower year over year. Against $635.85M of equity in fiscal 2023, the current book-equity balance moved 95.1% and ended lower. Compared with $163.19M in fiscal 2023, the current cash balance moved 4.9% and finished higher.

Cash Flow and Earnings Quality

The company reported $114.00M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital spending was $199.83M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 175.3% of operating cash flow, leaving the remainder available as free cash flow. The company recorded a $85.83M cash deficit after capital spending for the period. Free-cash-flow margin was -3.5%, reflecting a cash deficit equal to 3.5% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 1.5%.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Oct 21, 2026.