BALY - Earnings call transcript Q1 2024

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Operator

Good day, and welcome to the Bally's Corporation First Quarter 2024 Earnings Conference Call. [operator instructions] Please be advised that today's conference is being recorded. [operator instructions] And now like to turn the call over to Charlie Diao, Senior Vice President and Treasurer for Bally's. Please go ahead, sir.

Charlie Diao

Good afternoon, and thank you for joining us on today's call. Executive presentation Relations this at our section today our and in are www.ballys.com.With Chief release our are Investor Reeves, Glover. the of Chief Financial earnings Officer, that Papanier call accompany available me President; Markus The George Robeson and Officer, our website

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

going committee call. special to completion investors refer during this the call XX.This news during hand the of remarks being GAAP and and Robeson will live to to is a on that in call, expenses addition, I'm website included not measures and our onetime financial be to call. XX our financial the to to today's schedules In I from March our will contained We comparable announcements March Reeves, you want forward-looking nonrecurring replay release. will of our certain due provide measures commenting after refer note of shortly portion also not be during our to the We we do Q&A inability also our in are measures.Reconciliations management financial With non-GAAP for non-GAAP or earnings broadcast CEO. process reconciliation today's prepared most on to costs.Finally, the that, project available

Robeson Reeves

to today 'XX to Bally's have Thank the performance updates prospects our discuss you, to growth and on first forward. solid quarter going Charlie. you join in pleased us of provide We're

our year-over-year, Interactive experienced and casinos increase XX% million, North a on operations to X% well, saw basis, a Interactive growth America X% in International constant of X revenues saw a basis. U.K.Notably, X our continued Resorts a posting $XXX gains on quarter segment the exceptionally segment and our increase outside primarily due rise X% a in in operational reaching currency by revenue XX% U.S. dollar segments.Our the revenue. with The to in increased X% a segment revenues U.K. decline, First however, perform a substantial

of I'll results, Our to and positive of performance future and enhancing proactive current George overview, for the call in significantly recent paper pipeline. briefly strategic vision analysis will a Bally's of segment this in yield provide by the measures profitability.As discussing white continues anticipation revenue implementation and over the status the quarter. Marcus, After hand generation detailed to for I'll boosting who start revisiting quarters, our our development more the

our positions the enabling business the opening benefits into the build gain and continued and at This to our As relationships the operations core customers X our robust facility 'XX, offering prove we strategically also produced quarter we us us as into nurture is well temporary ramp opportunity to our temporary market.In Chicago, to the casino. extend up, will with continuing beneficial the insights facility and as valuable intelligence flexibility permanent by sit the here potential core strategy believe the from development designed cash to operations phased is units development well.Our pipeline while our into shifts adjust in to optimize flow market. of

X on to York, the to campus the we half approval closed second access July, In is in to updates construction October. starting We than Vegas, plans A time XX.In develop. September for continue expect Tropicana further in no the and casino for the permanent for the April crucial are and schedule are licensing are the the Las late received actively the RiverNorth on demolition. to we complete a our recently and 'XX.Simultaneously, by Having keeping from our state the demolish decision preparing property of highly line, in This expect the receipt will which Vegas to land of necessary we to the expected permits, our Las process as step earlier We stadium valuable is includes their next and 'XX. we provide of options assessing stadium New now extending anticipate further. new Tropicana

the segment, medium-term robust into will resort also the the this interactive the postpone While benefits our integrated and I'll later be market. reduces my development to continues our to attention turn U.K. segments. future, most our our International from financing from delay Interactive it planned needs.Finally, economic property immediate In

is to success efficiency along of largely has strategic with our management and refined implementation, efforts. diligent from paper benefited strategies.Segment white the due marketing and acquisition ahead Our prior also planning reorganization cost strategic enhanced

of We to exploring market updates Brazil, boost respect we betting supplier sports to strengthen benefits presence which additional expand will in our are are will some to soon further stabilize, the U.K. of the it's market-leading very we actively funnel.Outside U.K., advertising and ways launch for as online position future. and from to the in a the EBITDA beginning expect in pulling serve yield acquisition year Asia, in the focus to there by significantly.In cost market structure top marketing we our Spain, the shown step This the have profit who strategically our critical signs which the shifted on focused maximize significant growth. Europe, near business provide as although benefited a back progresses.Finally, to In and adjusted believe that we margin restrictions with comparisons remain reductions. recent has we uneconomic year-over-year variability, impacted and view provide line anticipate our more lifting

Interactive of segment to large continued the Jersey an strong delivered market very and as we capture American incremental a New share North quarter Our in iGaming Pennsylvania.

a iGaming thus and successfully April. far million under we gross sole March, accelerating in Rhode as an month pace provider.In revenue generation of generated we've in Additionally, we operation, in gaming just a Island launched of in $X.X revenue, observed

well and our in results note rollout of continued customers. pleased also bet are that platforms our to Kambi sports many loss transition We growth.We we've the has of believe 'XX. of to United the with White for which, our The States, North market times demonstrates our iGaming Interactive that it's as $XX by is clearly players betting adjusted a on ability funnel this mentioned this as we continued recognizing our about online view to been an benefits and successfully at million gain share are segment the incur received before, transition Bally transition.Additionally, important EBITDA the American expected our and very to for technological

fashion that, I'll discussion the now details year in progresses.With we operational pass However, over to performance as the George for loss anticipate the decrease quarter. that nonlinear further this will our last a on

George Papanier

operating our Robeson. casinos insights I'll and performance. remarks begin segment providing Resorts Thanks, my into by

that, the on Following build into to its at dive developments our latest Chicago I'll efforts results. ongoing facility temporary our and

growth Chicago believe the delivered line performance, revenue temporary was also challenges X.X%. be helped to by the at facility, quarter, the strong temporary. which segment which quarter during Resorts growth Casino wind few navigated top down driven of we offset Our full Tropicana.We of a operations This the of a

on weather in and our As adverse has significantly results. widely reported we our January, impacted call fourth been quarter mentioned

and normalized Rhode on Island Interstate our Providence route visitation February in notably seasonal recovery by critical Massachusetts. connecting properties was as construction on Island to XXX north-south to Rhode bridge March to trends.Additionally, a affected saw we conditions Fortunately, return more the

leading customer the be continue structural bridges challenges that periods.Unfortunately, this closures One observed no peak and continue. our to impacted immediate strong. has Encouragingly, of traffic suffered there and trends the database lane are underlying expected during X issues, to operating quarter, our to is across the disrupt weather-related the solution disruptions, we disruptions trends properties. margins that aside from weather stable Despite

must are the from these effects but We recent of progresses anticipate wage contract other expect we temporary.We major do improvements as year manage challenges. largely to continue union the not renewals, since impacts pressures

XX to better we're are portfolio, the the and Additionally, the leverage on what property store.Moving our we the opportunities Chicago. actively year of synergies for remainder as excited to within exploring

to facility at database. activities temporary the our and ramp customer expand continue up We

day, XX% temporary Emissions a quarter Bally's up During the service facility permanent benefit over customers, versus to in are performance we and year-end.Each using it increase the March, also GGR which this represented deeper December, will XXX,XXX already from once which to set ended December. XX,XXX a at to new rose million compared $XXX,XXX we gains enhance meters, $XX knowledge Improvements the our the over and also team with XX,XXX facility, approximately facility greater of launch understanding in than with Bally of soon. generated of our continue opens. the temporary parking to

we head gradually more beginning months, beyond normalized dining with over partnerships seeking the Bally's outlets and and just thereby hit spring enriching options and adding profitability focus we're anticipate time. currency, Additionally, on rates to and establishments improving production revenue as actively we'll to integrate our guest rewards VIP comp replay.We summer into local

to the for new plans the this costs at in the With $X.X over development XX gain campus Vegas remain working currently that Major The April the A's stadium of let of As September me with Las Vegas expected time incurred reminder, in team, season.While Robeson continue now all remainder thereafter. development be XXXX we on XXXX their noted with North are preparing year. the and play on will agreement there acre our Stadium to to the and lines earlier, Marcus. costs We the we their beginning are pace as these track host to and Vegas. under demolition Las control to building hard call with the will in will closed shortly remaining majority for officially Tropicana currently property schedule.As turn with X, River site XXXX.Turning This Las options League allow a site. the operational confident by we're of demolition to and billion the commence preparation later to baseball be XXXX begin and approximately keep are construction the that, July the on evaluate community

Marcus Glover

Thanks, George.

core our first highlighted, George we saw results and start Robeson to As solid in the a quarter. XXXX demonstrate

weather remains negative more our from we portfolio due issues.As core as X.X% March in operations major normalized million, markets, included mentioned margins the was impact access the Rhode construction January previous a somewhat properties primarily to from of of operating on for increased with this levels to year, several decrease the low adverse at year-on-year in a Casino segment performance winter challenges rose our & $XXX.X to on up $XXX revenues First as in Resorts basis during for February hold a million, by our impacts quarter quarter the and and the XX% gains interrupting winding ago, moments in just EBITDA X% strong. mitigated expect George a few to and aforementioned artery severe of Island X million, the return consolidated the X weather. Tropicana.Adjusted our Other the to segment to $XX.X down segments.Revenue January

Atlantic to X% effective. segments International remainder comparisons.This generated our to portfolio confidence decision Rhode quarter, adjusted company Interactive declined is to which loss the In of as strategic to that to adjusted integrate enhancing the is due strongly and adjusted XX% X%. launched dollars $XX.X the optimize the our January The our strategy the further U.K., constant Island cost to enhancement the quite and climbed million, points giving with performance weather marketing start. in and Chicago of we year-over-year U.K. EBITDA to XX%, within year-over-year for including improve drove a we significant a operations, great primarily by by adjusted X% off million, International U.K. is continued affected our in iGaming U.S. part XXX our crown of segment margin, EBITDA our perform profitability, in our revenue proving results of basis as generated our of look for said, million and effort profitability and were late outside line currency.Overall, of an of the approximately XX% Interactive, $XXX a increase $XX a year-over-year our broader jewel in marketing City, year.With $XX.X and improvement. in year-over-year growth choices the which contrast, was our continually investments XX%.North that Excluding increasing Interactive Temp robust structure, up which reduction Tropicana, EBITDAR a properties in year-over-year strategic the matures. enhance us strategically revenues margins we revenues effects, America as supported million by EBITDA This International to top

app.Turning million. Interactive to Pennsylvania Bally America $XX of of by as North for losses betting the our sports that our driven approximately believe to the continue iGaming scaling narrow We the outstanding our were quarter, progresses, At bet online Island, will and in Rhode in strong end operations New overall shares capital now to addition the year Jersey, structure.

We also of approximately the We sheet billion to XX and balance guidance. dilution quarter $XXX of on net incremental shares. $X.XX and other million Shifting warrants, debt. our have million ended cash options with of

reiterating we range generate to of quarter remain to The closure front reflects guidance 'XX on America 'XX. the opportunities growth in $XXX of are approximately business of billion of We road losses by million. XXXX EBITDA to fourth excited in executing on Interactive.In laid XXXX of in guidance our us continued expect million in the Tropicana out continue the billion a and very X, $XX Interactive the conclusion, April million in $X.X February.We call North we International and map $XXX EBITDAR $X.X adjusted the in adjusted to revenue and

launch our in over River now the sports team North questions answers. begin to in call July open excited early Operator? is As of the soon will we betting the permanent construction entire to we the take will and for preparation for Campus approach casino.We U.K., summer, the and

Operator

[Operator Jonas with instructions] first Barry from Our Truist. comes question

Barry Jonas

to removed, you're the Spain think U.K. in be sharing on I how a and you are growth with wanted being the to do And could crown Bally? wanted touch seeing you as restrictions meaningful think gains start then jewel. the these sustainable? with maybe Spain guess I I specifically for follow-up, Do international the also

Marcus Glover

the for being handle answer straight He's out will one. question. central to thanks of casting for Robeson that Barry, able that.

Robeson Reeves

Yes.

got attention. excellent very yet U.K. customer We've performance, very consistent. solid, So,

well. of as further KPIs a it's the KPIs retention We're brand high just drive launched and quality all seen and with Virgin.We active improved we brand on actually awareness, campaigns by acquisition with levels. doing delivered getting record Bally customer volume, further driven excellent we've So, already well to campaigns our that

released. We'll it very high-quality get difficult operators on 's topic, larger, still for to the been continue remains a What we yes, jump of Spain, to exactly exist great is. would in sports has they're been and before And that locker our we largely the good in. share, players. unlock Commission as of all spend So, right on I'm true.A Gambling we've operators. the there. Delightful some to I've performance it got worked the this gain a see for material tools drive will see grow the done worked said where They've the they've the this operators, with normal and released U.K. can a happy well I listened to more doing there.If the say U.K. more were job be ad you to I a lot means that will That decree will operators more will environment to smaller and long-term Commission. lot And by seen the to to I continue wanted white in with thing consultations paper well. They more Government to for that the market. industry. will Adding as stick today.Firstly, great delighted formula. and reversed. be have formulas,

optimized So, margins but any growth, we'll spend fashion in a will EBITDA in will case. highly also deliver drive

yes, U.K. very positive upside very see the All with So, No. there.Did or to ask Spain, not? well about good. positive Rhode with Island you as good

Barry Jonas

sort Well, fair I seeing. follow-up. curious what of I you're that's was a guess

the with there Providence what of can maybe a seeing maybe in bridge state? give color just iGaming some you're you could that interactive more offset angle, an with the is and on you If work chance

Marcus Glover

a on I I'll George can and again. bit give comment then color bridge, of on you think the

George Papanier

material in the always but and variable to mitigating our and And GGR. lot viewed any And, seen at primarily other.What towards the far, Yes, guess, material $X negative bricks a it's peak going in geared complementary I give each launch as which some we've think expense seen and iGaming know, Barry. volumes. pleased as be in iGaming mortar. we're Island, so Rhode mortar we products, we're April. time. any actually with customer this Island perspective primarily Hi, in seeing impact revenue and weather North are We've we're we've good, bricks impact the and not obviously you you and generation that March from of a and we've and during offset The great alongside generated million through opportunities impacts growth very confidence sit periods, definitely get adverse effects other good that Rhode market, will to sometimes with trends I'm got seeing America

Operator

question with next from comes David Our Jefferies. Katz

David Katz

I wanted of vision expect be to some a your on interactive evolve can markets of realistically X-year heels, up? Where period, hard over it. that to a particularly other sort bit smaller business the about get longer-term X-, to and North ask it's where catch to we of and comments just qualitative little about on the business American Robeson,

Marcus Glover

can and I'll back it. on David, to our start and that white especially We year, repositioned always the if can and be kind approach model cost went We've Robeson variable the when where we want of as we we at last quality then repositioned relationship. a hat available the side, We future recall, clean of, believe so, you on that to means up point, was iGaming our kind we states, performance. strength quality lies and on but to OSB to offering. said product want America really outcome.And for iGaming a an North be in it have of interactive stated,

great on very approaching that, it But far, tier how and OSB I with in measured any recently Rhode New reinvestment from give are just and additional very, of with we're with Island. actually things. color I'll we some side we're how have much a we Island, standpoint.One in may seeing positioning have promise a wanted to that that the now prudent our So very up put obviously, Rhode be but with Robeson Jersey, Pennsylvania, he sports competitive intro. initial again, on we'll offering, but let we reinvestment are

Robeson Reeves

Yes.

focusing said, in what might become Marcus investment in the iGaming states we're as our or future. So, the iGaming

to We U.K., so would to that.I states the because of by market the a and gone be that North in But structure more Marcus regulations. That, difference scale our as the just indicated, where by making existing America say overhead this need cost call it, market, U.K. base, XX/X. assumptions the of a variable manpower haven't through of the different definition, aligns in, in for designs any operation would, kicking you we've at a of our around the America sure just just additional base much North more player.Our has cost requires as intervention, human made big means lower regulations that business. also cost much human It's U.K. scale. between a required

Marcus Glover

just toward we haven't we've publicly stated, that gives on anything loss David, pause migrating what a terms $XX stated as And, seen in always negative of 'XX. for million we've us

think financial from obviously, to we haven't a guidance get kind beyond better that will negative given love provided that than positive. haven't 'XX, eventually ideally, performance We business specifically any finished.But get time business of beyond XX on. from terms in where X we'd of the we a where horizon and we But to

David Katz

some impression something put a might of expect respect one I know options. our timetable you that a we little more? to there when can place by just in Is we is, there's wide bit we own plan And there a Tropicana. if to might range have in can follow-up with My throw the pencil which

Charlie Diao

are is XXXX this. season. stadium Diao for the This Bally's their on the question Charlie stepping of building

bill April portion to them required capital in minimal have their XX. We a and supply

they We have option because would whatsoever closer more that to understand closer we the not data, certainty, season.While invest to how optionality. to you maximize of like to value increases no XXXX over time, the the get and that's absolutely some that the we urgency the certainty our that have value

Operator

Our comes Stifel. next question from Stantial Jeff with

Jeffrey Stantial

the called recall correctly, margins, XX% AC, here a prior correct, comparable the Marcus, out excluding metric quarter. on in Chicago. year Maybe XX% brick-and-mortar was out and close I you heard I Resorts the Trop starting If segment. to I if in you the think Casinos

XXXX? how and into here through do weather then from think off, January the on adverse of much had the first puts cost you could that flow about side impact break takes So, the on heading an you out second, remainder how of sort just in margins?And of

Marcus Glover

should Yes. I'll the color there give you the it after Thanks answer. for for and then George start, need question. let be I'll any commentary

George Papanier

and Hi, as lot I we me a if know let that. of anything, Jeff, unpacking missed

did impact So, January. one questions of in was This from we year, we the year, XX% the margin weather. XX%. did Last

obviously So, significant on weather. a impact had we

we without winding if XX%.This look February year, March XX% last Another this of down Tropicana and and year, data also did Chicago at QX. is, you would course, is during point without be, and combined,

and was impact union for really, that the know XXX any that year part part it collective year. I the really as of the through this of flowed of last specifically XXXX a I your only was X points missed increases So don't we result question. bargaining if saw and really basis those months, latter through

Jeffrey Stantial

clarify one think you I want to covered I that last point. perfectly. No, on just thing it

exclude So, you margins AC XXX year-on-year February saying about Chicago, if bps were and in you in were down March? Tropicana

George Papanier

No. That AC at this includes point.

exclude we're you AC, the if to closer described. levels that you up So, then

I think said XX%. you

Jeffrey Stantial

were adjusted So, X flat? for that those assets, excluding was essentially margins weather,

George Papanier

Yes.

Marcus Glover

think But I some hold the it's that in expect on supposed works to was to addition impact. weather, And, as math but it to impact to come that Jeff, that well. Modestly. has back work. if Obviously, year thing throughout way George's the script, a in was other that slight us also QX we one there the

Jeffrey Stantial

$XX million the number. about For to North prepared business. in of my sort improvement, to talked sequential follow-up, full the Interactive America you linear get not albeit year losses turning through to In remarks, XXXX the over

on, called you to margin there the And to key and was marketing casino carrying then sports rationalization us positive what as or of remind sort just that on I what's well any how side an of think of breakeven the from contribution equation, ramp eventual revenues as and inflection costs still margins you tech in online cost are as the kind get of as costs fixed drivers of going a inflection.Can spend? out much more you of otherwise? excess that duplicative is guidance the betting

Marcus Glover

So, much try There One things of couple better the of things. there, we've answer of on in rightsizing and and unpack all is, cost contribution. will I'll side labor to questions Jeff. to still some we down got improve me gains But need wind we be are this. keep roles mind, that. on as you to keep in to that.But on your in A gotten and honest structure year-on-year, some continue definitely

additional sports I were year. than markets same quarter think X we for versus prior the

So, helps. that definitely

also are revenue America world, we significant shifted the casinos We of retail gains is we better that to sports outcome. our impact, a segment.Now, and America view North betting but the what's in existed the had nothing modest resource North spirit in really interactive that how Interactive driving material, our our business

to wanted March, by bit of little in definite cost structure lot that given in on in open Now, but the Rhode iGaming, of in that to sports, your but we with some Island expect within We bit results ramp while well early to short, to adhere to to the and that question answer and of and on of a cost in bit it time. and the we get to little revenue Rhode strength obviously, a Interactive. it of Island a on also that continue we're there revenues carry in an open come to gains, subside QX, we verticals more labor line continue committed America keep labor markets the seeing we'd Island.So, which a think expense, both mind was and additional launch improvements to there a worth little boost increased be in Rhode push, was was commitment.And so, North the of

Robeson Reeves

one North apps well. Just running will stacks the end will piece. only across currently for reduce to a in That have away We're cost duplication boundaries.Currently, but Interactive. in is America costs, X There little go actually add more players of by That not across technology we different App state fluidity bit the Store. year. it multiple of much allow will the of as

become All a simplified once of these will single technology on stack. we're journeys

Operator

next [Operator Beynon from question from Chad Macquarie. instructions] Our comes

Chad Beynon

you to of wanted temporary. opening, the, So, when of property December $X roughly items that million I I focus guess, in the about last quarter GGR originally, know were meetings, on have you've all was the period. changed I kind monthly generating talked and the since

$XX Can where left annual you about how at that margins million. that and kind just importantly, and of the of then kind terms looks C&R. into more talk what's guide in of ramping?And of Now like for are kind feeds you're what

Marcus Glover

Yes, maybe Yes. additional start color. then George some Chad. can give I'll and

do the that is stated, drive the don't science really ramp, you As continue have is begin really behind to to ramp we focusing ramping. how that with top enough drive later. drive push meat and additional to continue line. to top property to enough I continue going continues can that well sign-ups profitability continue to feel is we grow in Obviously, know their there's We So much a to if customers for right? the team idea database.But and to on the line, market

profitability And pretty as introducing our customers somewhat is operations. Bally's brand them driving now, but that's focus intentional people line.Right us to to light, you'll to see continue focus the on continue quite we introducing top to and on to property so, candidly and marketing, the

So, color don't have you I to if George, add. any know additional

George Papanier

think Chad, have is there. to lot We this still We We're add is drive I'll primarily still aggressive going in, on opportunity penetrate there's in of of end stay lot database. the a to continue only and of Marcus marketing runway a very The right. market. thing to the

see the spending you're costs flip aggressive a your we're margins through ramping still there.And We switch some in point, certain that obviously, we'll increases. flow impacted. So, are of as margin lot to a tools. and going have stay and At we'll

add to parking. continue We

at We're physical on you we've under to business.And of metric We be already something certain lounge. look we or the end lot our think we're we down slot need a perspective, grow and side, we a VIP that slot environment, where primarily on a think types just games, when temporary there. in just deficient which there's break at continue added And the slot little lounge, a process still little the incentives. to we table it providing we a headroom of add From should a of be. to of we're need high-limit thought in feel the we the is we that and

very because that, of we're going perspective. keep just So, a marketing from to aggressive

Chad Beynon

now the long current the in is the marketing then or margin expect OSB approach them be, that Or neutral additional should And with just margin on of of the really some maybe we database, cross-selling U.K., as would costs? accretive even another term? guess, focus product kind launching I of

Robeson Reeves

Yes.

So, the X out. as you we've got call prongs,

got on You've offerings base our with already who do spend of proportion There's player who a sports competitors. players large existing that. our

So, hoping to market, X into system of acquiring as often having sports that yet our wallet a we're some casino just product virtually casino, by is that consolidate to direct much missing.Also, than players too. cheaper you'll in acquiring we're see play sports

we which you're intend a little in at expect longer more ways. another to more So, offerings. I both we because spending just I've intend tool same spend locker. the on acquisition don't in drive more players And marketing, the it volume other term from I better just to got getting ARPU because to bit spend look in see through are now

Operator

Our next question CBRE with Institutional comes Research. from Colin Mansfield

Colin Mansfield

guys I trends are nice in second a putting up first a definitely you follow-up mean, month-over-month. that in temporary on it's the Chicago. the Maybe

help mix understand customer things share versus there what about that coming the can you the Is there radius you a in mix more of there. of repeat tourist is, So, the would anything what little that, there? about coming local bit demographic that's maybe terms between or that's or us area visitation, customer catchment like guys are learning sort

George Papanier

what of It's facility. facility anywhere is we're So, the our think produce We permanent George. along This regional to the I'll environment.And we're I again, would now, this remember, very see that Colin. XX,XXX March. although again, regional environment. than skewing close continuing facility, resort to you a database at a grow database. take is of in that, going have what you a in the Right nice. customer in end typically in younger not We're It's, a would that mentioned lines now, is more temporary or about to the XX,XXX

side So, a the makes percentage table driven We're not bit primarily female don't the concentration to in through And It's games.On we that, we're areas miles. say right higher young. customer a of and more the of X the within currently the business, seeing typically skews of demographic age not That's see yet. that sense stock we're We're is to there's by older. try we a of a primarily draw X-mile certain within that radius. going that little significantly the little to to penetrate drawing a of a and in doing busing lot now continue the but think outside market.

Colin Mansfield

one international And the side. then Interactive on follow-up just

U.K. for the from away on a and moving maybe Just Asia focusing moment.

that market that You you should giving mentioned what of you the some in are that to business that kind comfort are signs there. the driving are see return you What's variability of stabilization And growth? that? guys seeing

George Papanier

has business lumpy. Well, a has challenges. always It sentiment the bit Asia been

So, driving get only exceptional can lot traction are that's team to showing we the traffic getting large we're sort new that green call because deliveworking because new has driven how have on that has and been their getting the we're online of, shoot is ones launched we're it, times. business. actually, seeing us. But have who new hard at sign-ups, traffic cut the a of in Pachinko. manage it.So The positive volume comfort they a driving That through, they control I of

can You pretty the given which comfort. way, in should USD. but got down XX-year low bear challenging dollar, to for coming the see, conversion because through revenue we that Japanese overcome currency has us a traffic but gone in mind through, We has to we're new any revenue some is at as definitely door excellent the the is come seeing

Operator

We Mr. this back like for time. further turn have questions closing to now comments. I the to at no call Reeves would over any

Robeson Reeves

you. Thank

delighted of core quarter. about well, more our want We're in of to just but So, many next to provide we're strong. opportunities value delivering are that extremely diligently in pipeline the mind incredibly capitalize is performing development managing updates where us. on very our he gets all you the to all And I'm our to just stakeholders. with I part and Team very, all be ahead to keep enthusiastic

us So very let's for and you much stay today. all in joining thank touch,

Operator

today's conclude program. does your for Thank you participation. This

at You any may disconnect time.

Bally's (BALY) 1 May 242024 Q1 Earnings call transcript