Bally’s Corporation (NYSE:BALY) Q1 2024 Earnings Call Transcript

Colin Mansfield: Great, that’s really helpful. Thank you. Just one follow-up on the international interactive side. Just maybe moving away from the U.K. and focusing on Asia for a moment. You’d mentioned some variability in the business there. What’s driving that and what are the signs of stabilization that you guys are seeing that are giving you comfort that you should see that market return to growth and that’s it?

Robeson Reeves: Well, the Asia business has always been a bit lumpy. It has sentiment, challenges, so driving new traffic has been hard at times. The positive sort of call it the green shoot that we’re seeing is we launched online Pachinko. That has driven a large volume of new signups and we’re getting traction because we’re the only ones who have it. So actually that’s getting cut through, driving new traffic to us. But I get a lot of comfort because the team working on that are showing they have exceptional control in how they can manage their business. You’ve got the revenue coming through, but the conversion is excellent because as we can see, revenue has gone down in USD. We should bear in mind that we’re at a 34-year low for Japanese currency to the dollar, which is pretty challenging to overcome anyway. But seeing new traffic come through the door has definitely given us some comfort.

Colin Mansfield: Great. Thanks everybody.

Robeson Reeves: Thank you.

Operator: We have no further questions at this time. I would now like to turn the call back over to Mr. Reeves for any closing comments.

Robeson Reeves: Thank you. So I just want you all too just keep in mind that our core is incredibly strong. We’re managing extremely diligently our development pipeline to capitalize on all the opportunities ahead of us. Team are performing well and I’m delighted to be part of it. We’re very, very enthusiastic about delivering value to all of our stakeholders and we’re eager to provide you with many more updates in the next quarter. So let’s stay in touch and thank you all very much for joining us today.

Operator: This does conclude today’s program. Thank you for your participation. You may disconnect at any time.