Bally's (BALY) Stock Rises As Revenue Improves But Losses Stay Deep

Bally’s entered this earnings report positioned as a beaten-up value story, yet the stock rose 3.7% to US$13.99 after the release. That move came even as the company reported another sizable quarterly loss, with basic earnings per share at a loss of US$2.41 and net income excluding extra items at a loss of US$146.1 million on US$792.2 million of revenue in Q2 2026.

The market’s early response suggests investors are focusing less on current losses and more on what this revenue base and low price-to-sales valuation might eventually support. The rest of the numbers will test how strong that patience is.

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Q2 2026 Earnings Summary

• Revenue (Q2 2026 vs. Q2 2025): US$792.2 million vs. US$657.5 million (higher revenue year on year)
• Net Loss Excluding Extra Items (Q2 2026 vs. Q2 2025): loss of US$146.1 million vs. loss of US$228.4 million (smaller loss year on year)
• Basic EPS (Q2 2026 vs. Q2 2025): loss of US$2.41 per share vs. loss of US$3.76 per share (smaller loss per share year on year)
• Trailing 12 Month Net Loss Excluding Extra Items (Q2 2026 vs. Q1 2026): loss of US$764.1 million vs. loss of US$846.5 million (smaller trailing loss quarter on quarter)

If you prefer clear, visual charts to dense earnings tables and footnotes, explore an at-a-glance view of Bally's recent performance, including its revenue and profitability trends, in our company report for Bally's.

Bally's results and the cautious bullish view

Bally's gives bulls some support here. Revenue in Q2 2026 is higher than Q2 2025, while the net loss excluding extra items and basic EPS loss both narrowed year on year. The trailing 12 month loss excluding extra items also improved compared with Q1 2026. That combination suggests the existing casino and online platform are scaling on a larger revenue base, while losses are at least heading in a better direction.

Where Bally's numbers still feed the bears

The bearish side of the Bally's debate is far from resolved. The company still reported a sizable quarterly loss, with net income excluding extra items and basic EPS both in the red. Trailing 12 month losses remain large despite recent improvement. That reinforces concerns about funding large projects like Chicago, the Bronx and Las Vegas from an already loss making base. Execution and balance sheet risk remain very present for anyone focused on long term downside scenarios.

Reveal whether Wall Street sees Bally's recent revenue growth and narrowing losses as the early stages of a real turnaround or just a temporary lift. Compare your own thesis with the consensus price target analysis for Bally's.

Take Control Of Your Next Move

If Bally's mix of higher revenue and ongoing losses has your attention, register for free with Simply Wall St and add it to a Watchlist to keep an eye on price against fair value and wait for a setup that suits you. When you do take a position, use the Portfolio Command Center to cut through noise and focus on the updates that matter for your holdings. For a wider view on what other investors are seeing in Bally's and similar stocks, join the Community and compare different theses side by side. That way you spot potential catalysts and risks early and stay ahead of the market instead of reacting after the fact.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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