Glover responded, “Right now our focus is on the development pipeline.

The first analyst question zeroed in on Bally’s $3.2 billion debt load (against $184 million cash on hand). Casino-division President George Papanier added that the Tropicana was ahead of schedule in terms of operating performance, despite having been in the portfolio less than a year. Regarding the Las Vegas Tropicana, Glover said Bally’s is trying to “show strength and certainty,” due to customer concerns created by the baseball deal. That being said, we’re keeping a close eye on consumer behavior.”ĭifficulty at Tropicana Evansville was attributed by the CFO to “heavy competition within an hour of the property.” We haven’t seen a significant change at our resorts. But “Overall, we’re pleased with the strength and resilience of the casino sector. Glover allowed that casinos had experienced “some headwinds” in Atlantic City, Evansville (Indiana), and Las Vegas. Added Glover, “Sports is a great launch to our customer base, but we will be very prudent moving forward.”īrick-and-mortar casinos were said by Reeves to be trending well, “even with some of our properties facing incremental competition.” He added that the capex-upgrade cycle at Bally’s core properties had peaked, although an expansion of Bally’s Kansas City continues. Reeves appeared to reposition the company with regard to sports betting, describing it as “a funnel” to channel customers toward higher-margin igaming. Reeves said that when smoking was banned, “Revenues fell over 20 percent and have yet to recover.” Smoking in Bally’s Shreveport was described by Reeves as “an incremental driver of performance,” as the city resumed a policy of allowing tobacco within casinos to better compete with Bossier City.

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