Bally’s Corporation (NYSE:BALY) Q4 2023 Earnings Call Transcript

Charlie Diao: I think we’re very comfortable with our leverage. Our leverage is elevated because of significant investment in the Chicago development effort. I think we’ve been in the market in the past that ultimately as that project is completed, we expect to get all our money back and more. And so, you’re in a transitory period where it’s a three-year development project and the denominator and the numerator are not matched. But if you look at our temps, we spent $70 million and within a year, we expect that to have a $50 million per annum return. Granted, it is a temporary, but that’s a very high return on capital. But obviously we had to buy the license and other things associated with it that will ultimately be used for the permanent. So we don’t look at things as a point in time, but over a period of time. Does that help?

Brandt Montour: That’s crystal clear. Thanks for all of that.

Operator: This does conclude the Q&A session. We’ll now turn the program back to our speakers for any closing comments.

Robeson Reeves: Thank you all for joining us. I think we should all just remember we have an exceptionally robust core to our business and we’re handling our development pipeline with care. We see a huge opportunity ahead and we really want to deliver value for our stakeholders. I look forward to sharing much more of you very soon. So I’ll speak to you in the next quarter. Thank you all for joining.

Operator: This does conclude today’s call. Thank you for your participation, and you may now disconnect.