BALY - Earnings call 4 2023 | Bally's Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Please stand by your program is about to begin. Good day, and welcome to Bally's Corporation Fourth Quarter 2023 and Full Year Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I'd now like to turn the call over to Charlie Diao, Senior Vice President and Treasurer for Bally's. Please go ahead.

Charles Diao

you us thank today's and afternoon, for on joining call. Good me this and of available www.ballys.com. With Papanier; Chief our presentation Vice President, release Glover; of Reeves; call Officer, our are Robeson Executive that at CFO, section Earnings George Relations the accompany are Board, our Patel. our Investor in website our Marcus today, Chairman the Jaymin

forward-looking plans, management These like are Before remind earnings everyone uncertainties. include by we forward-looking from Financial made statements. filings. statements. forward-looking would and to and may estimates release that's today begin, discussed projections contain the differ we comments will risks these company's and involve materially expectations, statements discussed that results results SEC in significant the risks These in

measures today's release. to measures. due is also refer provide non-GAAP of during do addition, call project website our the included live certain comparable financial will on shortly for earnings and broadcast management and after This to a to Investors expenses Reconciliations of the measures call, our call. replay to We financial financial completion in be costs. in being GAAP are most available onetime our this the forward-looking not reconciliation contained inability will non-GAAP schedules nonrecurring In

to Let me over hand the Robeson. call

Robeson Reeves

as to as our our Thank you, fourth growth performance, thoughts XXXX We're Charlie. well operating quarter share strong pleased on Bally's and solid prospects. forward

its a Interactive market the rollout wind-down the margins The achieved presence reaching X% as robust EBITDAR ramp-up leading again year-over-year, operating a revenues driven $XXX progressed. with America maintained of Resorts fourth iGaming Our the of in grew once offset and successfully performance, Tropicana. while solid Chicago, North strong OSB revenue all share a Bet Bally International X% additional our costs increases million, quarter in U.K. segments. Casinos we & increase adjusted Interactive across gained market X segment continued and by

adjusted and increased XXXX, the impressive our X%. For [ revenues an both EBITDAR year full ]

vision turn and future, roadmap page continued excited into performance I'm quarterly our and operating Marcus for Bally's to our George with you development of our follow specifics will we As deeper including dive opportunities. and the the XXXX, performance. of unparalleled to share improvements

some vision, our Bally's complex that are there for who diversity believe Regarding story. makes a

view through strength. it a business This we a However, our through us of the lens allows various confidence, core within environments. industry us opportunity macro of successfully high and navigate and distinguishes to seeing source as

and North Bally's and equity crafting and offers Interactive setting across thoughtful ] pipeline, Casinos unique growth and adjusted a potential. a operations bright a Coupled our [ with America Interactive, & For unparalleled performance credit EBITDA stage we're and development industry our stakeholders, long-term strong the Resorts, new standard. International future consistently

the enables measure EBITDAR our generation strength EBITDAR to health, our is properties adjusted adjusted reinvest a financial us assessing As development in pipeline. our for crucial of and

development first touch let's our to Moving pipeline, on Chicago.

earnings call, full the beginning a of update moments. the during our George our has operating in which temporary a XXXX, on it. we'll behind route laid As last few property The is operational of quarter with financial fully begun facility performance out you of

the this preparation As that existing access in to Reflecting and $XXX hard for HCA and an in lease needed on for soon. In share costs important pursuant billion addition way the the Chicago over very coming demolition support partner, pave incremental of the closure facility late XXXX. We're formal the with hotel of construction the for the the the months casino and the with Vegas, securing the be financing quarter of Las previous the concentrated for $X.X timeline, permanent, Tropicana expect GLPI. our just this timelines XXXX, to site there updates over of remaining improvement late to is third we with this and X the we've summer, component will in of in also completion remain facility of close set land Tribune demolition shared, financing line site half to the the April allowing XXXX. will second coming million construction XXXX permanent facility on in is

thereafter. approval Following begin A formal demolition, will site the prep, stadium and plans, of construction likely of the Las Vegas sometime

We development valuable the the continue to very assess our stadium. next available to options lands for

benefits that our timeline in extends will market offers that and core accommodating while we years. building And should York, first entertainment pathways derived step. Securing financial complex the world-class generated allow the cash milestone, we're pipeline the most U.S. about and early super in have of that in a for regional Links it this be cities development timeline the country's will the multifaceted is years spending in the a Ferry and gaming of lengthy vision. Thinking Point. approximately Moreover, XX in from Bronx to competitive New operations, this towards this distinguished well-developed, way unmatched will stages staggered potential what our we'll has we the position Bally's Finally, actualize Golf a proposal achieve This approach makes largest clear casino journey Bally's and shifts. license our X from a believe for flow the attractive opportunities to development highly destination. maximize X at numerous

marketing to before and our want Within to fourth gross quarter, strongest I is is call touch our our margins. improved acquisition attributed EBITDA adjusted continue strategies, George, to performance operations Interactive making Interactives, profit This I improved International which to on our excel date. turn success our the with U.K. significantly efficiency to refined segment. Finally, customer

with reorganization Interactive to our consistent we've Bet now seen more iGaming in rollout strategic our NII efforts. In the refine our our business It's quarterly best the Additionally, along with and X stabilize approach is North from the and expect from New delivered states. diligent XXXX, results, Asia, Bally our the revenue benefiting to Jersey strategic in In and live benefiting segment, cost its pleased the of XXXX. market. ongoing of solid are Pennsylvania segment performance progress OSB. we management America

further expected we and in our Hat our to more We investments White Kambi continue as to benefit to optimize Gaming. partners, technology functionality and XXXX marketing transition

We of await in and apps of the our home of provider. the eagerly first the Island state recently web-based iGaming in where later will Rhode have our sole versions launch be launched quarter, Bally's

to iGaming segment. is This exciting modeling fourth our involve over the expansions our George continue conviction significant OSB to and an now an resulting ] this For last approximately performance NII not of the discussion broaden is anticipated foundational directly initial should vital details is We'll of performance in purposes, strategy our adjusted [ Interactive our but time investments, XXXX. across EBITDAR the our leverage for inherently invest that commitment XXXX for entirety and quarter XXXX. Market wisely projected step the for allocate to further pass loss million successful $XX to futures. I'll nurture resources be towards quarter. operational business, by underscored is on our

George Papanier

fourth City Thanks, with ramp performance & up insights Robeson. XX% developments diving across of and results Quad our year of from Island Casinos segment. with our year. EBITDAR we're most my to for completion pleased has phase begin mid-September full portfolio its revenues and in was business properties operations. the our also Resorts Temporary continued is in up our its strong well, We're Kansas seen Resorts Similarly, an & into performance efforts the consistently performing the exhibited development following X XXXX. quarter quite Casinos facility for produced of our up with robust X% commentary I'll for year. Notably, Chicago XXXX. property up the Adjusted Rhode impressive Atlantic of have City. the X% the robust the and latest in Cities

it single-digit of portfolio. The markets. strength year XX and the hyper-competitive of the every adjusted proactive, ability we EBITDAR, expectations despite GGR underlying our and metric For cost comparisons and since the property. We meaning in X and Operationally, enhanced critical properties portfolio high on reflects AC of share. that outperformed was the of as we're a of striving assessing market profits, to millions X full our aspect generated year, are for under in to relatively our same our outperformed the consistent in remember properties, closely Moreover, market-wide in acquiring a improvements our us our our assembled last several capture of we monitor the efficiencies. It's as as basis portfolio, environment first drive store we've throughout resources and properties that cohesive well reductions across ongoing markets demonstrated management process quarters. operating results XX expertise early positions to operating it managing our years, by

pace, Chicago Let's to Chicago. improve property including shift build-out towards commendable to our Since robust facility database. a has desired in advance operations September, Temp focus of opening operational efforts made dedicated our the team the our in

initiated services and restricting expanded are guests experience absence to garages, behind we facility also such schedule the F&B bus seen factors launch, hours our operating to before, communities. parking these their local the actively with in them. We for enhancing improvement, at the neighboring significantly property. several delaying as noted of As we've December We're shuttle and access for in valet and XX/X already and ramp-up several offerings. limited initial for success opening, we've our XX parking, to arrival opportunities are demand due months operations across We've responding from addressing options of numerous

dining our free new lounge on outlets exceeding $X.X and -- improvement mere we establishments declines enhancements compared as AGR high numbers in upgrading to reports, our weather including or hit Bally's and currency, team released VIP monthly $XX X.X who in in million evident local a saw Our conditions by a These is the GGR severe hospitality comp now adding a competitors IGB. We thereby play. the our focused beyond with despite rewards saw record offerings, guest's million December. limit all versus the to January, enriching IGB are partnerships in and month-over-month integrate and representing

rates second to this hitting expect we each quarter begin and into month respite from famous before We Chicago's normalized move welcome as production we from the winters. the ramp revenue a continue benefit to

extremely we with dedicated permanent project. and casino to our the call city passing development to about are our Before fully the Chicago of partnership Marcus, are excited

here are to We stay.

a includes from XXX the has XXX subsequent in This pace the approval of timeline received city the the hotel to tower for [ construction impacted ]. planned rooms hotel adjustment and approximately revised we the of HCA. above plan in a the not our unexpected beneath accordance with discovery due remain for construction the and additional revised plan we pipes initial development with site. phase, casino the relocated A Second, water rooms

Lastly, now weather our that, many trends will call let our me portfolio the we on seen by across X in in contributions have we normal peers, more on close that few a return were of January, weeks. in have seasonal Tropicana with second to remember but past and April and severe impacted impact revenues as Marcus. please quarter. With the beginning to turn Furthermore, over the an the

Marcus Glover

Thanks, George.

Robeson XXXX, growth as operating strong demonstrate, very to a and Heading on foundational drive our elements segments. and XXXX are As the results George our note. sustained in finished into place X highlighted, across

year-over-year portfolio Temp. by and million, $XX.X which wind-down $XXX.X our a The offset Resorts X% from characterized solid demonstrated of million revenues quarter's contribution Tropicana. reported organic results & adjusted fourth a growth the of Casino EBITDAR, increase, of across ongoing Our Chicago top-line the portfolio, segment including helped year-on-year

Atlantic Including these XX%. were a margins XX%. margins EBITDAR Tropicana, Excluding EBITDAR City, Chicago, solid and were properties,

Blackhawk, year, full City, X%, and driven strength in XX%, and increased revenues For Resorts grew by Island, adjusted the Quad Cities. Rhode EBITDAR by by Casino Kansas &

constant International increase quarter, generated to dollar U.S. with was a record-adjusted its increasing year-on-year on Interactive a business, strength million leading XX% $XX.X $XXX rose of X.X% fourth this where the impressive by U.K. For currency. International The and year-on-year our basis revenue led million. revenues continued in X.X% Interactive revenues X% EBITDAR year-on-year. performance quarter,

we Importantly, that XXXX. has Asia, see into a in stabilization to trend continued began

and Interactive by International For X.X% EBITDAR grew year, the X.X%. by adjusted full revenues increased

quarter, year-over-year Bally we For which of live the of Bet, in revenue North a an segment EBITDAR as rollout states. year Interactive generated continued fourth increase. of the X finished $XX.X $X.X the adjusted million XX% The America generated million, loss

efforts of a for EBITDAR improve adjusted OSB significantly year view full our expect as will as remain We growth. measured marketing given to iGaming funnel

end consolidating last Island As platform ways our onto be we the legalize and potential OSB swing any White schedule will identified Hat which announced once have costs states call, factors iGaming may in domestic shares and additional the to for launch X.X million. the XXXX-XXXX. At we highly of The for open our PAM approximately $XX.X additional X, Rhode to the mitigate also of in of in million, undoubtedly total that better a consideration estimating mind, loss $XX profitability the user Interactive reflecting of America the With on XXXX. terms quarter, Bally EBITDAR in biggest $XX in full iGaming iGaming Rhode anticipated we of are lead This of of market shares were pace March remains for North launches. adjusted are for in outstanding million million year on that repurchase Island, experience. will to and

and count. with of We is also quarter balance dilution We options, million approximately net billion of share other shares have shares. $X.XX incremental million our million XX warrants, outstanding and diluted sheet $XXX.X cash the fully the XX on ended of debt.

billion Bally's to to EBITDAR also to $XXX in to Turning the $X.X of expects guidance, $X.X $XXX revenue generate million company to billion. XXXX million. expects XXXX The range generate of adjusted

weather customers. severe past Also, patterns across conditions We of and in January continue weeks. general seen impacts economic an the our impacted Resort we Casino U.S., to most was over consumer to improvement on several keep by trends the & while have for a close spending eye

also rate, and in strong April North trajectory half the EBITDA the $XX of ] EBITDAR Interactive. million assumes of approximately adjusted in X, run guidance second of America growth in Chicago Our on Tropicana closure International XXXX, Interactive, losses [ continued a

We million million. $XXX of expect of and rent expense GAAP cash rent $XXX straight-line

other Our our prep closing, site expenditure the iGaming initiatives enthusiasm included my is expenses which similar guidance of Rhode progress our Temp, and the casino, aggregate. demolition million underway. That for growth in Tropicana. In which I and permanent reiterate the launch continued XXXX $XXX successful on to Island, as the for concludes for comments. XXXX, in expenditure spending in is of guidance capital want well are my Not Chicago as wrap include will for Chicago in capital

the open We will now up Q&A. call for Operator?

Operator

first question Barry Truist take [Operator Securities. from with Instructions] our Jonas We'll

Barry Jonas

Yes.

month-over-month had Let And you to The to of there? it's to I transfer a want what kind like the player basis. once player permanent seeing ramp Temp a how on looks Curious, me, few. starting could start think I that you're with completed? database do Chicago.

George Papanier

that question. take I'll

database. So increasing up obviously, X, IGB and to our database X we're really started in to database after we just We approval. started November we got months, with we're in mailing within actively that XX,XXX

been right kind by What now SKU So that's months seeing couple a at a it we've younger now. primarily slightly table driven we're is to for of demographic, only a demographic games.

providing work a the now a with table ranked perspective. little that a we us. slot customer slot of You've second couple garages lot in we're state side the as is provisions a we the to the blocks probably well. which the We think What Still several that a appropriate parking, already bit seen got were of side. games from contractual on arrangements has to younger have of do with little within for do on seeing

So we're increases starting see a of to from lot that.

well. And increased shuttle growth have in we're the also see starting vicinity. that We in as busing to

And the success transfer to measure So and of see that with I think growth all the really absolutely facility. We about the were short-term. happy XXX% database metrics build increasing. to goal we really we're week-over-week, this that the permanent is continuing to

from almost September XXXX gone we've to $XX of million in million. IGB So of $X.X

summer about months. We're continuing getting that from an what when which aggressive happy in market advertising and well. the hoping that the perspective And the bit little we're to see real we're through we're in typically see So market you some a seeing. growth in is growth March, as more

Barry Jonas

those what some then and And ultimately heard you A any considering like. Tropicana. we if about just Trop, scenarios you're will look of visibility yet shifting better you a for could if the just haven't about lot to talk have Wondering stadium

George Papanier

again, Barry. Thank you. that Yes, I'll take

we evaluate that's stadium what is options just the -- valuable we January with us we're the that land which we plans, April that a feel their a X, on open arrangement towards our for just stadium. Obviously, their So next XXXX. development to still closure our to the and A's ready announced them. is is to the put in X. season for the announced of the construction to finalizing contractual we on that to did are deliver closing end very to order closure listen, just that we on And continue position within goal in A's site And

have So our we further from don't anything perspective.

Barry Jonas

any think could helpful. weather I'll would or more. Casinos base you're assumptions, there color share maybe Got ask sneak quantify in 'XX additional I one say underlying just January, what the it. Resorts. expecting but maybe I guidance sort for & And impact same if Can EBITDAR you want in about I if additional to growth that's store flattish, any be of the

George Papanier

Sure.

back. bit me let of So a a step little take

did, our to that our experience we XX see the of market market across in. We period, half portfolio, way, customer the XXXX. of XXXX saw everyone our actually in on back during we but improvement markets perspective by growth XX higher-tier we like else, that our from softness And continue throughout during competed

you've just not So we of impacted Vegas weather, on saw really of then lot some is That really But nice back impacted, obviously. in is. into XX% like what we us the us. the impact a Las October, impact about got a it probably which your in real ran of a operators. was softening. regional impact in course, to was quantify But December. Then, bounce we question seen most it,

that bounce see we at You'll numbers. weather of top-line levels. kind back that's we weather into back we're seeing right were we away of that patterns able the on, to back revenue But And we're [ a follow that more growth inflationary kind But February. the ] in line. normal translated to probably obviously, feel normal to and EBITDA mitigate as

year, softness think had that's last in perspective, of just from meet. comp's the year second is since that opportunity I I'm the The going half a other second an in to to this guidance about be We point the easier little we going make to half. that a talked

Operator

We'll question Stifel. Stantial take our next with from Jeff

Jeffrey Stantial

you here whether respect Maybe the with What some are of latest International to with the impactful check, changes, all on categories more the the starting impact the to parameters state the a update off business. you Robeson, limits, digit clarified? your can to talked proposed are you? views affordability changed the then past, with us regulatory low respect of have overhaul? hearing that Have that's Interactive you at And or at just more guided top-line single what since the on in worst. U.K.

Robeson Reeves

Thanks, Jeff.

So just government consumer, feel Commission overall, to every body areas. care the I which I still discussion the genuine having with on focus very working with DCMS, progressing on paper the slowly. aligned white a those we're paper closely and Gambling the we're The very about. is protecting that is with rational lot a comfortable

We have to been, our we're it very operate we flexible how comes when business.

So I'm be all, to regulatory honest, at changes. not about these concerned

it will I degree better of market. think Even you'll a for more much if displacement this any pick up share impact smaller larger there makes is the a operators, way. that severely, so operators from of

seen I think slot some of on and days stake past over few you may limits, stake limits released online. headlines today the have

the robust close in investing means to at U.K., sustainable there's July my apply U.K. U.K. GBP very September stake take and about model iGaming it be we performance suspect are further that stake recession -- up when to to over for longevity play. impacts, apply this, is I'll in also I limit I will have and the to there that this the will Bally saying the to This implemented I if limit. The is the a brand if somewhere will in have feel we into X market, sports. out it in greater when comes will the Even great. Even resulting be is bit business. much that. any we aid biggest more I always that it there. essentially a our in be All under So in window. feel principles that now without color. and press and as I the Again, will our the people a Probably very face challenges good same X ends feel in more is the North sports saying, in what just are is gut somewhere 'XXs GBP funnel. lens 'XXs that rolling add there. business And look will U.K. operator market. -- America right the and This the

feel about good U.K. So I the feel good. I

Jeffrey Stantial

in Okay, mostly more underlying normalizing? you a just the could Japan. sort International you great. seeing bit or improvement be Just of commentary is talk you can on then regards uplift of additional some any the consumer helpful. color really comps expand on actual trends? of kind stabilization, with what sticking to That's And your Are that function seeing in segment, of to When a offer would helpful. you you're

Robeson Reeves

Yes.

market building that from Asia. So in the we're is we're product with BXB And what is seeing players the back. sentiment engaging

control, there's engaging different like more that the We've added consistent under stable, new like funnel, from into they're customers coming loving it. and it with feels content, appealed audiences. which see Yes, Asia and area. our and has so still it's So revenues product we'll of types to extra feels

can see that you performance up. 'XX, U.K. the I'm of our can thing hoping holding this International [ was year. in contribute everything As ] in kind really Interactive

Jeffrey Stantial

more miss is what's this. million then intact? if Chicago great. squeeze facility, and if embedded the And guidance for EBITDAR Is just I in $XX Temporary could But for Okay, that here, target one 'XX? still in apologies I that the

Robeson Reeves

question so short, we your Yes, that. answer to yes, toward in are trajecting

as it to you Chicago. relates of clarity see, team, things revenues, are and pretty Just We've progress couple but some in can our of contemplated goal. making there and toward George are driving costs a that. we as a substantial overcoming are that moment guys

that rate contemplates quarter. still ending we've holds true shared third our That yes, that today. And in so hitting your answer question to short, run

Operator

Jordan Citizens our with We'll take Bender next question JMP. from

Jordan Bender

that Barry's and Presumably, the on help guidance. for Trop segment. question the touch margin should profile to overall C&R want I

stable? that quarter. that in So down with of Chicago then hits, and that fair to plus the down the with margins through a should closed? being be QX And year-over-year Trop first lot implied any guided run Is year-over-year, implies about ramp rate points the the happen assume then basis more that it should major there in QX losses are weather or XXX

Marcus Glover

Yes, definitely George with you But is year of we've on first well. we're thing, one shared as with model little guidance. that top is the our place. stays ensuring to closed, and that going kind being definitely for half that so the impact Trop in and incorporated what Weather of teased stickiness and seeing a on of guidance this bit, focusing our database end the that, and in

We are keeping lower of a database segment. the cautious eye our to unrated ends the in

of free business could And so materialize impact. margin into some that some

yet, being haven't enter competitive markets. are contemplating as that We experienced that but we case our of more a some we

Jordan Bender

year then switching last to the strategy into you of Great. online, North the shifted kind iGaming. And American

as markets, these of to state. would particularly price you New for the your would any betting-only position York, skin of sports these look some states? assess go market I seen in guess you in what exit So a we've

Robeson Reeves

our all the to that's iGaming. in view marketing markets. intention which these any any leave we to very measured, both as We're we've greatest us a achieving Hat, we're partnership states. stay on returns. have our Today, as appropriate We're great these the we investing iGaming has all in enabled of states. have Kambi will with We and White in said, being don't investment costs where we very focused approach, as these pathway to No, manage sports got do across of

Operator

Chad next our Macquarie. with from question take Beynon We'll

Chad Beynon

in talked I certainly wanted segment. before had think and the than quarter, to International to to where higher Interactive what Margins XX%, I street kind of kind the the was. Robeson, of return you

think believe hopefully the XX% up. regions But of about some other I historically guess marketing overall margins talked XX%, just talked For implies just you've and your 'XX, maybe guidance XX%. and picking to kind we the as I you about of environment, about

if color just fourth you're and what Can of little Now should anomaly? the environment a of you of XX% more XX%. this XX% bit marketing as quarter in the is viewed an terms provide be in more kind to like

Robeson Reeves

to The grow. can an ways view to other that I'd can allows quarter, to ensure range look anomaly. XX% continue fourth on touching discussed XX% We that that to at continue us as we we to So invest.

can that to not room actually there's you always growth. some So testing, in never if you're find And stable test.

going be We're about The there. expansion within looking that, too. margins in Our good above at the plans. other in Virgin Brazil. should the our exactly to tool with We line We're markets we locker past U.K. at have that our Bally's few go I feel at years and these in outside holding America the both well, definitely, at retain opportunities. which market over running know unlocked looking us look we because allows our Interactive. And is very of we wider to haven't I so customers expansion sustainable North are margins, expansion

Chad Beynon

to Okay, Great see great. that.

$XX of nice quarter, In opportunistic in terms stock of so million capital returns, the you're to you repurchased see being worth there.

'XX For Chicago. with reasonably 'XX, CapEx and in up picks is still low. I believe 'XX it

million I know availability the remain have to market believe on, we in program. capital opportunistic you should have, how the $XX you depressed? returns? the left I current on think So Do if shares about be

Charles Diao

among options do we said point change. what in have investments, At is being, that, always each the we've of capital think development expenditures. capital. I any as dynamics of point may those development, well as different allocate that returning opportunities, internal obviously time, significant The we

-- to get if financing it Board is We the some those expect exercise for we'll that points exercise And we'll sense, the will stock expenditures. decision. makes at where see development different and

Operator

question [Operator Jonnathan from Instructions] take our Navarrete with We'll Cowen. TD next

Jonnathan Navarrete

far XXXX? state Jonnathan of the so touch consumer into U.K. International. in to for Any insight Lance. I It's the on on want

Robeson Reeves

very don't U.K. to we're stable We seeing from right. respect players, spending consumer, have our patterns With players. big very many

We're there. it investments to else volumes hold manage content returns have enough such of we new consumer. customers high call very everything getting levers much enough mix funnel a and ensure to into that our such it's we can and So consistent as the from pull the as

Yes, usual end in not was through into seeing feel I of of trends seen the a So that We've that consumer single expected. every of sort February, definitely January we're happens slowdown. but we'd January the the and understood pause, the all as post-Christmas comfortable about U.K. good and numbers, It very year. in our

Jonnathan Navarrete

Great.

CapEx, Can call In versus you maintenance get the $XXX just split terms that million. of we of growth?

Marcus Glover

Yes. that for Casino will Think this way, $XX to the about probably million, go maintenance & $XX it of side. there's million Resort

We go have that probably not XXXX. until see to of that that's capital in will properties, $XX the some the ROI growth but on million into neighborhood $XX million will the probably

America online we'll and in very portion development enterprise. significant then develop And development the So portion bring for efforts small both activate efforts and That a interactive. continued technology and year, North across for then and and enabling very, includes our a for International for this some XXXX. centralization integration investment for Interactive,

Jonnathan Navarrete

out Understood. demolition substantial? call is included that like? And what you it you out? need that's not is I costs Or figure call want don't it CapEx. to Is just to somewhat And insignificant it know, that in also

Marcus Glover

George separate he let offer. our has anything We separate million. in we to share what from we add anything out. Yes, And development that out I'll to capital on it $XXX if

So Chicago like. we're contractors understand with and those process going won't through look Tropicana still are our you give the costs what now to demolition working separate. -- I will

that million know don't today. and separated if So we to from But has are have $XXX to out share in are I anything those number that offer. included else not a that George we number don't with you published.

George Papanier

going through We're right and right. you're No, Tropicana. process now, Chicago bid the both

Charles Diao

time. up. think period and some I blowing to it's mean, it not the demolition and prep the relates site I issue of other It's over just as

to really maybe So 'XX. over, Trop of fixing year, to over it a wrap calendar wrap like on the going that's some particular

have that's and a specific no certain So why don't guidance timeframe. held reason we to

Jonnathan Navarrete

stands where New the competitive we process. And last at York license? one. just moment? the Bally the remind are just it's Can where Sure. And us you know I with a

George Papanier

So the working that process RFP presenting think and in the and of the public appropriate we're on be the there anyone at build We've appropriate does an that opportunity we're step project state obviously, that acquiring just is the we the to and license. once that will plan land, process. a position We think a part it's We're But [ begins. real there secured ]. be ourselves it's putting project first a successful, successful.

Marcus Glover

[indiscernible] to Just

George Papanier

you color any York's give on -- speak timeline. can't New We can't we obviously,

the We name will step are put taking every our for hat in measure and consideration. that

have interested very by compelling think our and proposition in a And site Bally so Links We course. Golf very, very it. we're we anchored

will we York's await New and engage so decision And and timeline.

Operator

Jefferies. our Katz take David from question We'll with next

David Katz

wanted minutes I go on question. was financing, I I back couple But still And which know to late. apologies, Chicago is just a an open

not or outbounds may inbounds as You today, have for what's conclusions would but potential helpful. updates any be outcomes on us

Charles Diao

I think haven't changed. we

don't know access finance to have to would going prep. greater need back the to when year X, expect half that and the the we have spend fact the like until financing. we're July it this site to to demolishing And but We site certainty, XXXX. is get I market of the we

CapEx the the XXXX in mentioned Robeson the introductory, of bulk as So is XXXX. and in

a it's and to project the in towards you we to have ability we don't progress tell because of do shall we commitment a that that. unfortunately, And when place we to about. project. So do, finance are outcome. If great we our continue But confident

Operator

Brandt Montour with We'll take from question Barclays. our next

Brandt Montour

I I you the guidance, want segments, the to on Interactive the -- lap somewhat. is maybe expect from like part you sounds you're to but it Asia's have constructive to stable, a which guess between reset I top-line, of the on would on expect And year. which I the read just that lines sounds mean back you there if on right, circle last U.K., different right, then to like, grow that just, flat it essentially got here for maybe business And I'm 'XX. the trying International to to segment

basis for and probably different of thinking terms geographies that And about within so year, year-over-year in wildly be I those down X off Asia line? offset. would maybe the the there Am a on

Robeson Reeves

you've No, pretty well. it interpreted I think

a have does was decline because lap to the course Asia 'XX. there significant there over of

Now predict lap some that. We we're there, our is our forecasts, guidance, we're you in can't seeing thinking to good, of recovery but obviously, when environments. about thinking we about which have perfectly these

flow well. know we as have that the have enough to know set we're future ourselves Yes. there we rational, through the ensure So up we to right optimization pull that And levers making line. what the we in in to and bottom that other on we investments for have marketing markets to is

Brandt Montour

a That's discussion. to follow-up helpful. capital allocation the it. And Got then

just down I you gave You guys quarter, looking fungible guess though, going drew you're [ or how it And color maybe some about thinking ]. it's separate the we some sort forward. is of noticed revolver. fourth thinking on on of your back cash

you bought took -- so that. leverage on picked You and some of stock little your back up a bit

where level about is, price how sense it is sort when buy I it your at make us doesn't stock just your of you -- a remind for of back to And question sort philosophy where the think stock and so that? guess maybe leverage the on

Charles Diao

in then at bank time, the leverage, that fourth monetize may, we buy stock And can our at it in we but Yes. we in raised have point cheap. options. land that mean do certainly, we -- with things you have we point to that other also different And equities time. it. have know or we're going any doesn't Look, any we forms, do say monetize necessarily got and a It the too quarter,

available are spent day, of those point levers only So end turn. the for us. that are million that. $XX than a the at we one That's of less to And

mean don't can the us. never but I option I on that, that it if off is but exclusive is to available for point other doing the to -- we're if us, you, know table doesn't satisfies that that focused that So opportunities

Brandt Montour

you that satisfying. you if down? it's -- I a That's leverage think curious don't send you're just you think helpful. that? very about of comfortable guess do need to with if I'm I and level, mean, Or care guess, to this bringing that's signal I worthwhile sort you that no

Charles Diao

our comfortable very we're with think leverage. I

Our leverage Chicago in investment of effort. is because elevated the development significant

project market ultimately the more. the get been and in money in I completed, all past think back expect is as that we've to our we that

spent And but to license for Granted things annum the so capital. ultimately are temporary, numerator million, buy $XX we But return. matched. and that million be you're denominator with the as our used that and in if not at per year a associated a expect a it transitory have we will project that's the a period other on permanent. very X have to obviously, and return high look you But the $XX where X-year Temp, it's a and within we development

that look a over time, So don't as of but at a help? we in things Does time. point period

Brandt Montour

That's crystal clear.

Operator

turn does any the the This our closing for now speakers session. comments. program back We'll conclude Q&A to

Robeson Reeves

Okay. Thank you all for joining us.

robust for a I think to opportunity really we our to sharing ahead, stakeholders. handling deliver with see more we're exceptionally we our right. remember care, an want should have forward look just we We I and business, and our huge very you value core development to pipeline much of all soon.

to So Thank in you you joining. quarter. the I'll speak next all for

Operator

Thank may your conclude you does now This and for you participation call. disconnect. today's

Bally's (BALY) 21 Feb 242023 Q4 Earnings call transcript