Bally’s Corporation achieved a notable 5.4% increase in revenue in the third quarter of 2025, bringing in $633.7 million. This growth was driven by robust performance in its North American online operations as well as a resurgence in its land-based casinos. The company’s casino and resort division alone experienced a 12.1% increase in revenue, reaching $396.1 million, while the North American Interactive segment saw a 13.1% rise to $49.9 million. Additionally, Bally’s reported an 8% increase in UK online revenue, underscoring its efforts to expand in regulated online markets.
The company’s strategic partnership with Intralot has been crucial to its global transformation, offering substantial long-term value potential. After selling its International Interactive business to Intralot in 2024, Bally’s established a global iGaming and lottery entity, benefiting from strong cross-market synergies. According to Bally’s CEO, Robeson Reeves, this partnership marks a significant milestone, as the combined operation has become one of the largest listed companies on the Athens Stock Exchange. The joint entity is projected to generate €1.1 billion in annual revenue, with EBITDA margins surpassing 39%.
Reeves emphasized that the merger of Bally’s International Interactive and Intralot has created a global iGaming and lottery leader, enhancing scale, diversification, and a complementary product offering across B2G, B2B, and B2C channels. He noted that the partnership is designed to capitalize on operational synergies and cross-selling opportunities in regulated markets, positioning the new structure for sustained growth and long-term value creation.
Bally’s is also committed to reinforcing its footprint in North America, particularly as the construction of its resort in Chicago gains momentum. Reeves stated that the building of Bally’s permanent gaming and entertainment complex in Chicago is moving forward, with the project receiving its initial funding from Gaming and Leisure Properties International in October. This development is part of Bally’s broader strategy to expand its omnichannel offerings across the United States, integrating its physical locations with its burgeoning digital operations. Reeves highlighted the importance of strategic and prudent capital allocation in maximizing shareholder value.
In essence, with the evolution to Bally’s 2.0 and the collaboration with Intralot, the company has established itself as a global omnichannel provider of both retail and online gaming experiences, growing internationally as a gaming, lottery, and entertainment operator.
Looking ahead, Bally’s aims to maintain its growth momentum through integration and diversification. While the International Interactive revenue decreased by 6.9% to $215.1 million due to the divestiture in Asia, the company noted an 11.7% year-on-year increase in revenue from continuing operations, excluding the sale. This demonstrates the underlying strength of Bally’s core markets and the scalability of its structure post-divestiture. Reeves described 2025 as a transformative year, marking the transition to Bally’s 2.0 model, which is centered on global integration and technology-driven operations.
Reeves expressed enthusiasm about the growth opportunities on the horizon, emphasizing data-driven innovation and market diversification as key areas of focus for 2026. As Bally’s continues to reshape its portfolio through new partnerships and product verticals, the challenge remains: can its global repositioning strategy sustain growth in an increasingly fragmented iGaming landscape?
Despite this optimistic outlook, there are questions about whether Bally’s can continue to grow at its current pace amid growing competition and market fragmentation in the iGaming sector. While the company is taking significant steps to diversify and expand its market presence, the evolving landscape poses challenges that will require strategic navigation and adaptation. The company’s ability to leverage technology, innovation, and partnerships will be critical in maintaining its competitive edge and achieving long-term success.
Erik Agary is a seasoned writer at True Games Reviews, specializing in gaming, casino games, and interactive entertainment. With a passion for all things digital, Erik dives deep into the latest trends and developments in the gaming world, offering insightful reviews and detailed analysis. His expertise spans across multiple gaming platforms, ensuring comprehensive coverage that resonates with both novice and experienced gamers alike.
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