In earlier projections, the operator had anticipated adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) of $560 million to $580 million, with revenue ranging from $2.4 billion to $2.5 billion.

On the other hand, it has revised its sales estimate down to $2.2–$2.4 billion and revised its EBITDA estimate down to $535–$550 million.

Reasons given included fluctuations in foreign currency rates, lower expectations in Atlantic City, and the results achieved thus far this year.

The company's acquisition of Gamesys, an online gaming company based in the United Kingdom, in the second half of 2022 drove a 100% increase to $552.5m in Q2 revenue. 

Gaming accounted for the bulk of the rebound, with revenue increasing to $455.1m, more than doubling.

A little over half of the increase, to $33.9m, came from hotels, while $27.4m came from food and drink. Also, earnings from retail, entertainment, and other sources increased by 100%, reaching $36.0m.

In terms of revenue breakdown by division, the original Bally's land-based company brought in $299.9m, representing a 14.4% increase. The online business in North America generated $18.1 million, or around 3% of the market. Still, according to CEO Lee Fenton, the company plans to increase its marketing efforts once it has an optimised product for the US and Canadian markets using Gamesys technology, so this market share could more than quadruple.

He promised to hold off on spending money on advertising until the product reached its full potential.

In addition, Fenton mentioned that the company's North American strategy will centre on online casinos rather than sports betting.

He declared, "We are leaning into igaming.". The place we aspire to be is anywhere online gambling is permitted.

The majority of the $234.6 million came from Gamesys' worldwide interactive segment. Fenton stated that the company's revenue had dropped mostly because of a significant decrease in marketing spending, however the company did not disclose a figure from this division beginning in Q2 of 2021. In light of this cut, he gushed over the performance.

Despite a 30% drop in marketing, he claimed, "amazing results really," meaning that the percentage of first-time depositors (FTDs) fell by only 9%.

However, expenses jumped by 149.6 percent to $467.2 million, outpacing revenue growth. The biggest expense was the more than tripling of costs of sales for gaming, amounting to $204.5 million. Expenses related to advertising, general, and administration increased by 79.5% to reach $181.7m.

Operating income increased by 6.0% to $85.3m, even though costs rose at a quick pace. There was a 32.3% drop to $64.9m before taxes when other expenses of $20.4m were included, most of which were interest-related.

There was a 14.7% decline, to $59.5m, in profit after taxes.

Profit before interest, taxes, depreciation, and amortisation (EBITDA) increased by 70.2% year over year, reaching $141.2m.

Half of the year's revenue of $1.10 billion was generated by gambling, accounting for $918.8 million. The operational revenue decreased little to $107.8m, as operating costs totalled $992.9m.

Profit increased 5.5% to $61.4m after accounting for all expenses and taxes.

Standard General, who already owned 20% of Bally's, put in an offer to buy out the remaining owners during the quarter, putting the operator's value at $2.07 billion. But in the end, the Bally's board turned down the proposal.

In the second quarter, the company also secured the rights to run a casino in the heart of Chicago. 

The call for bids process resulted in Bally's Chicago being selected as the preferred bidder. Hard Rock and Rush Street Gaming were among the other finalists; a previous round of bidding for Chicago casino sites by Bally's and Rush Street had been unsuccessful.