Brief: Bally's Corporation Announces Preliminary Fourth Quarter And Full Year 2022 Results

Bally's

13/02/2023 12:26

Feb 13 (Reuters) - Bally's Corp  BALY.N :
    * ORATION ANNOUNCES PRELIMINARY FOURTH QUARTER AND FULL YEAR
2022
RESULTS
    * Q4 REVENUE $576.7 MILLION
    * SEES FY REVENUE $2.5 BILLION TO $2.6 BILLION
    * 2023 GUIDANCE - FULL YEAR REVENUE RANGE OF $2.5 TO $2.6
BILLION
AND ADJUSTED EBITDAR RANGE OF $660 TO $700 MILLION
    * IN Q4 OF 2022, BALLY'S RECORDED A NON-CASH IMPAIRMENT
CHARGE OF
$390.7 MILLION
    * RECORDED A NON-CASH IMPAIRMENT CHARGE OF $73.3 MILLION IN
INTERNATIONAL INTERACTIVE SEGMENT IN Q4
    * LEE FENTON, CEO, WILL STEP DOWN AND ROBESON REEVES,
PRESIDENT -
INTERACTIVE, WILL TAKE OVER AS CEO, EFFECTIVE MARCH 31, 2023
    * GEORGE PAPANIER, LONG-TIME BALLY'S EXECUTIVE, WILL BECOME
BALLY'S SOLE PRESIDENT
    * BALLY'S HAS NO LIABILITY RELATED TO DIAMOND'S DEBT AND
DIAMOND
HOLDS NO EQUITY OR OTHER OWNERSHIP RIGHTS IN BALLY'S
    * CONTINUE TO MONITOR DIAMOND SITUATION CLOSELY AND LOOK
FORWARD
TO WORKING WITH NEW MANAGEMENT TEAM
    * WILL CONTINUE TO PROMOTE ITS BRAND THROUGH MULTIPLE MEANS
    * FY2023 REVENUE VIEW $2.46 BILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nPn5Hr7VZa 
Further company coverage:  BALY.N 
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