Bally’s Appoints Mira Mircheva as CFO to Strengthen Finances
LISTEN TO THIS ARTICLE:Bally’s has announced the appointment of Mira Mircheva as its new Executive Vice President and Chief Financial Officer (CFO), pending regulatory approval. She will take over from Marcus Glover, who has transitioned to the role of Executive VP, Global Operations Group.
25 Years of Financial Experience
Mircheva brings over 25 years of financial experience with her and she most recently served as CFO at The Queen Casino & Entertainment. Her career also includes roles as Partner & Research Analyst at Standard General and Senior Research Analyst at Perella Weinberg Partners Asset Management. Additionally, she worked as a Vice President in credit principal investing at Goldman Sachs early in her career.
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Bally’s CEO Robeson Reeves has spoken of his confidence in her capabilities.
She brings considerable experience to this role and her experience as CFO of The Queen Casino & Entertainment will be invaluable as we integrate Queen into Bally's.
The Queen’s casino properties contributed $57.6 million in revenue for Q4 2024 and $225.2 million for the full year. As part of its long-term growth strategy, Bally’s plans to transition two of these properties to landside operations.
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Navigating Bally’s Financial Difficulties
Mircheva steps into her role as Bally’s navigates some financial difficulties. The company reported a 5.1% year-over-year decline in Q4 2024 revenue, which totaled $580.4 million, while full-year revenue remained steady at $2.45 billion.
Its Casinos & Resorts segment saw a 5.2% drop, and International Interactive revenue declined by 9.1%. However, North America Interactive revenue grew by 24.4%, driven by platform expansions in Tennessee and New Jersey.
Mircheva has spoken of her enthusiasm for her new role. She said she is “thrilled” to be joining at “such an exciting time” and said she will be using her experience from Queen Casino to strengthen Bally’s financial position by optimizing their cost structure and improving the efficiency of the company’s operations.
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