International operations continue to drive revenue for some of the US’ most prominent betting and gaming firms, with Bally’s recently published financial results further hammering this fact home.
The US market is a difficult space to stand out in, with FanDuel (Flutter Entertainment) and DraftKings dominating the market to the point where there is an effective duopoly in many states. This has placed a greater onus on international activities for the likes of Bally’s and MGM Resorts.
Publishing its accounts for Q2 2025, Bally’s revealed that its UK operations are proving particularly fruitful – though its International Interactive division as a whole did face some challenges during the first half of the year ahead of a planned divestment to Intralot SA.
UK online revenue was up 8.8% as Bally’s continues to establish itself in the market after acquiring Gamesys in 2021, forming the basis for its international division. The firm has also detailed good results in Spain, attributed to the easing up of marketing restrictions – a cross-sector trend that has been noted by the Spanish government.
However, as stated above, overall Q2 revenue for the International Interactive division was down 10.2% from US$229.4m to $206.1m. Bally’s states that this was because of last year’s sale of its Asian assets, chiefly located in Japan, to a company formed by the businesses’ management.
This development sharpened Bally’s focus to the European and North American markets – and it seems that the former is becoming increasingly important and is posing new opportunities for the company.
It is telling that International revenue still eclipsed North American Interactive revenue, generated from the US activities of the Bally Bet online sportsbook and casino, which was up 21.5% to $56.5m ($46.5m).
Bally’s was keen to stress that if the revenue generated in Asia in 2024 was discounted, its International Interactive revenue would have risen 10% year-over-year, while also pointing out that adjusted EBITDA for the segment was up 1.1% YoY to $82.2m.
The company seems to be banking on further growth in the UK, a lucrative but also very competitive market, to ensure this growth continues – explaining its desire to get in on Premier League front-of-shirt marketing while it still has the chance, with a ban on these deals coming into effect in 2026.
New dawns for a new Bally’s
Casino and Resorts segment remains its biggest revenue generator, and recorded revenue growth of 14.7% to $393.3m ($343m) – though its UK property in Newcastle will still have contributed a small portion of this.
Recent years have seen a diversification of Bally’s North American casino business. In February 2025 it completed its merger with The Queen Casino and Entertainment, integrating four new properties in the process.
Showcasing its reach in land-based casino activities across the US, Bally’s stated that its properties ‘outpaced market growth in nine of fifteen jurisdictions’, citing strong performances from its properties in Vicksburg, Mississippi, Baton Rouge, Louisiana, and the Quad Cities of Illinois and Iowa.
Again, however, international diversification is clearly on the agenda. In April the firm invested AU$200m in embattled Australian casino firm Star Entertainment Group, which operates resorts in Sydney, Brisbane and the Gold Coast.
Robson Reeves, Bally’s CEO, summarised this deal: “The opportunity to acquire a significant equity stake in Star is consistent with Bally’s historical and proven strategy to deploy capital and disciplined financial practices in underperforming operators to seek to create value for Bally’s shareholders.”
The final key development for Bally’s in H1 2025 was the agreement inked with Intralot which will see the Greek lottery technology company acquire Bally’s International Interactive. This has been earmarked as a key development in Bally’s mission to create a ‘Bally’s 2.0’, leadership explained.
The agreement will create a combined entity focused on selling lottery technology solutions to various state-backed lotteries, particularly in North America while also running the B2C international operations. Bally’s will retain a 30% stake in this business.
Summarising Q2 performance, Reeves said: “In summary, Bally’s 2.0 is well underway to create a global omni-channel provider of retail and online experiences by expanding globally as a gaming and entertainment operator.
“Combined with ongoing initiatives to drive operational efficiencies and balance sheet improvements, we continue to demonstrate significant progress across these objectives.”
15 September will see SBC organise a groundbreaking charity football event in Lisbon. Make sure you get the chance to see some of the most legendary names in football by securing your ticket today at https://www.legendscharitygame.com/
