Bally's Q2 Earnings Top Estimates

Bally's Corp BALY reported second-quarter FY21 revenue growth of 825% year-on-year, to $267.7 million, beating the analyst consensus of $225.36 million.
Gaming revenue rose 763% Y/Y to $205.29 million.
Operating expense rose 275% Y/Y to $187.2 million.
The operating margin was 30.1%, and operating income for the quarter was $80.5 million.
The company held $873.7 million in cash and equivalents as of June 30, 2021.
Net cash provided by operating activities for the six months amounted to $34.2 million.
Adjusted EBITDA was $83.76 million, versus $(10.72) million. The adjusted EBITDA margin was 31.3%.
Adjusted EPS of $0.48 beat the analyst consensus of $0.46.
"Improved consumer confidence, minimal capacity restrictions and our disciplined operating strategy all contributed to extremely strong numbers across the board in the second quarter," said CEO George Papanier.
Price action: BALY shares traded higher by 1.07% at $54.05 on the last check Monday.

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