Filing Flows › Bally's (BALY) › Q4 2025
Bally's (BALY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 23, 2026
Bally's (BALY) reported revenue of $746M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +12% from the quarter before. Operating margin was -36.8%, net loss $365M (49.0% of revenue).
Bally's, Q4 2025: revenue $746M (+29% year over year), operating margin -36.8%, net loss $365M, operating cash flow $18.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $746M | +12% | +29% |
| Operating profit | −$274M | -27850% | — |
| Net earnings | −$365M | — | — |
| Operating cash flow | $18.8M | — | -50% |
What changed
Revenue was $746.2M in Q4 2025, up 29% year over year and up 12% from the previous quarter.
Operating costs exceeded revenue by $274.4M, an operating margin of -36.8%. Total costs grew 67% against revenue growth of 29%. The fastest-growing cost line was Other operating costs (+83%). The quarter ended with a net loss of $365.4M, wider than the previous quarter's $106.2M loss. Minority interests bore $12.2M of it: to shareholders the quarter was a loss of $353.2M.
Operating cash flow was $18.8M (down 50% year over year). Non-cash charges added back $164.7M of depreciation and amortization and $24.1M of share-based compensation. Working capital and other items added $195.4M. Capital expenditures of $37.7M exceeded it, leaving free cash flow of −$18.9M.
Questions
What was Bally's revenue in the fourth quarter 2025?
Bally's (BALY) reported revenue of $746M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +12% from the quarter before.
Was Bally's profitable in the fourth quarter 2025?
Operating loss was $274M (-36.8% of revenue) and net loss $365M.
Source: Bally's 10-K on SEC EDGAR.