Bally's Corporation reported a 20.5% rise in revenue to $792.23m (£484.98m) in the second quarter, as growth in its UK-facing business helped offset the impact of higher remote gaming duty.
Revenue increased from $657.53m in Q2 2025, while Adjusted EBITDAR rose 8.3% to $187.52m from $173.15m.
UK tax impact and growth
The company said the UK tax increase, which raised remote gaming duty from 21% to 40% from April 1, had a $39m negative impact on B2C EBITDAR during the quarter.
However, Bally's Intralot's UK revenue continued to grow, with constant-currency year-on-year growth accelerating from 10.5% in Q1 to 11.6% in Q2. Growth reached approximately 13% in July, according to chief executive Robeson Reeves.
The company said the increase was achieved without additional marketing expenditure.
Margin targets and debt
"We remain firmly on track" with previously announced margin targets, Reeves said, while describing slower-than-expected consolidation in the UK market as an opportunity rather than a concern.
Bally's said it had offset close to 65% of the tax increase's impact through revenue growth and cost controls, with further marketing reductions planned for the second half of the year.
The company's long-term debt stood at $4.466bn at the end of the quarter, little changed from $4.463bn at the end of 2025. Debt has been a key consideration in Bally's planned acquisition of Evoke, with the transaction expected to close in Q4 2026 or Q1 2027, subject to regulatory approval.
Q2 performance by segment
Land-based casinos remained Bally's largest source of revenue, generating $401m, up from $393.3m a year earlier.
B2C revenue increased 22.3% to $243.5m, driven by growth in the UK and Spain. Revenue from the B2B lotteries division rose sharply to $79.5m from $7m, although the comparison was affected by the previous year's figure representing a cash royalty stream from a divested business.
North America Interactive revenue increased 16.9% to $66.1m, while Adjusted EBITDAR rose from $2.5m to $3m. Bally's also spent $502m acquiring gaming licences during the first half of 2026.
The company is now awaiting regulatory approval for its proposed Evoke takeover, which would significantly increase its presence in the UK online betting market through William Hill.
Reeves said the deal would allow Bally's to apply its existing focus on organic growth and cost control to a business with greater scale and customer reach.
