Bally’s confirms $425.5m net loss for 2022

Bally’s Corporation posted a net loss of $425.5m for its 2022 financial year, primarily due to impairment charges, though the operator was able to report a 70.7% increase in revenue.

Earlier this month, Bally’s revealed in its preliminary results that it would likely post a large net loss for the 12 months to December 31 as a result of impairment charges, in particular a $390.7m charge related to its North America interactive business in the fourth quarter.

The final FY net loss was slightly higher than preliminary guidance, though incoming chief executive and current president of interactive, Robeson Reeves, was upbeat about the operator’s wider performance in 2022.

Read the full story on iGB North America.

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