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- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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