Bally's North America Interactive unit grew revenue 25.6% in the third quarter of 2026, well ahead of a slowing US iGaming market, and narrowed its segment loss. The online unit still lost money, and the results came with another delayed quarterly filing after a going-concern warning in August.
Bally’s online business in the United States and Canada grew faster than the market in the third quarter. It is still not profitable. North America Interactive groups the company’s sports betting and iGaming businesses in both countries. The unit lost less money than a year earlier, but it stayed in the red.
Online growth outpaces a slowing US iGaming market
The pace stands out against the wider market. US iGaming revenue grew 12% year over year in the third quarter, according to Citizens JMP Securities. That was down from 19% in the first quarter and 16% in the second. Bally’s online growth ran well ahead of that slowing trend.
The quarter was not a clean step up, though. North America Interactive posted $66.1 million in second-quarter revenue, up 16.9% from a year earlier. Third-quarter sales were therefore lower than the quarter before. First-quarter revenue was $60.5 million, a 35.9% increase.
For the first nine months of 2026, the unit had preliminary revenue of $189.2 million. That compares with $134.0 million for February 8 to September 30, 2025, and $16.9 million for January 1 to February 7, 2025.
A narrower loss points to progress. Yet the unit has not reached break-even, even while growing faster than the market. For a smaller US operator, online scale is still not translating into profit.
Third late quarterly filing follows a going-concern warning
All third-quarter figures are preliminary. Bally’s has not finished closing its books for the period ended September 30, 2026, and the numbers could change. It filed a late-filing notice dated November 10 because it needed more time to finish reviewing its third-quarter financial statements.
That makes three late quarterly reports in 2026. Bally’s notified the SEC in May that its first-quarter report would be late. It did the same in August for the second quarter. Both notices cited more time needed to review financial statements.
In the first-quarter 10-Q, management concluded that disclosure controls were not effective. The cause was a material weakness in internal control over financial reporting, first disclosed in the 2025 annual report.
The second-quarter 10-Q, filed August 14, went further. Two tests tied to the company’s revolver, a net leverage covenant and a liquidity requirement, were expected to be missed during the coming year. That same filing carried a going-concern warning, questioning whether Bally’s could keep operating. The shares fell more than 25% in one trading session afterward.
CEO Robeson Reeves said development projects remain on track and market conditions are stable going into the fourth quarter and 2027. The Bronx casino resort is expected to cost $4.0 billion and open by 2030. Bally’s closed a financing package led by WhiteHawk Capital Partners that provided $400 million in term loans for the project. Another $160 million in delayed-draw commitments remains available. The term loans come due 18 months after they are first funded.
The delayed third-quarter 10-Q comes next. The company has said it should arrive before its five-day SEC grace period runs out.
Sources
- Bally's Corporation Reports Preliminary Third Quarter 2026 Results With Consolidated Revenue Rising 21.7% to … (Bally's Corporation (SEC EDGAR))
- Bally's Corporation Reports Preliminary Third Quarter 2026 Results With Consolidated Revenue Rising 21.7% to … (MarketScreener)
- Bally's juggling several developments as Q3 revenue surges on Intralot growth (iGaming Business)
- US iGaming growth hits record low in Q3 2026: Citizens Report (SiGMA World)
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