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Ballys Making Changes

May 9, 2023

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Ballys Making Changes

Bally’s has made a number of management changes, with Marcus Glover replacing Bobby Lavan as EVP and CFO and Charles Diao and Jaymin Patel joining as SVP of finance and corporate treasurer and vice-chairman of the board, respectively. The company also announced plans to file a draft registration to list its River West resort in Chicago and offer shares to city residents. Lavan stated that the resort was expected to generate $50m of EBITDA in 2024. Bally’s reported a 9% rise in total revenue to $599m, with adj. EBITDAR up 10% to $158m. The Kambi-powered OSB relaunch is set for the end of the year, with Bally’s switching financial terms from a fixed to a variable cost model. The UK grew 9.6%, and CEO Robeson Reeves said the UK White Paper on gambling reform had provided the sector with much-needed clarity.

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