PROVIDENCE, R.I. (AP) — PROVIDENCE, R.I. (AP) — Bally’s Corporation (BALY) on Wednesday reported a first-quarter loss of $173.9 million, after reporting a profit in the same period a year earlier.
The Providence, Rhode Island-based company said it had a loss of $3.61 per share. Losses, adjusted for restructuring costs and non-recurring costs, were $3.26 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.13 per share.
The hotel casino operator posted revenue of $618.5 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $622.8 million.
Bally’s expects full-year revenue in the range of $2.5 billion to $2.7 billion.
Bally’s shares have declined roughly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.16, a fall of 25% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BALY at https://www.zacks.com/ap/BALY
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
