\nBally\u2019s Corporation (NYSE: BALY) today reported financial results for the fourth quarter and full year ended December 31, 2024.\n<\/p>\n
Fourth Quarter 2024 Results and Operating Highlights<\/b><\/p>\n \nBally\u2019s has cancelled its fourth quarter 2024 earnings call which was previously scheduled for today, Wednesday, March 5, 2025 at 4:30 p.m. Eastern Time.\n<\/p>\n Summary of Financial Results<\/b><\/p>\n \n\u00a0\n<\/p>\n<\/td>\n Quarter Ended December 31,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Year Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n \nConsolidated Revenue\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n580,365\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n611,670\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,450,478\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,449,073\n<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts Revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n324,375\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n342,317\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,363,113\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,363,291\n<\/p>\n<\/td>\n<\/tr>\n \nInternational Interactive Revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n214,477\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n235,980\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n909,493\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n973,210\n<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive Revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n41,513\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33,373\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n177,872\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n112,572\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nRobeson Reeves, Bally\u2019s Chief Executive Officer, commented, \u201cFiscal 2024 was a transformational and transitional year for Bally\u2019s as we funded and began development of our permanent Chicago casino resort and completed the controlled demolition of the Tropicana in Las Vegas paving the way for Major League Baseball\u2019s A\u2019s franchise to move to the site. Following these milestones, in early 2025 Bally\u2019s completed a series of transactions with The Queen Casino & Entertainment (\u201cQueen\u201d) and Standard General which has further expanded our scale and positioned the Company for compelling long-term growth.\n<\/p>\n \n\u201cThe \u2018new\u2019 Bally\u2019s 2.0 is a dynamic global land-based and online casino operator with attractive growth pipelines in U.S. gaming. Reflecting the now completed strategic transactions, the four complementary Queen casinos are poised to continue their rapid growth as they benefit from inclusion in a broader domestic gaming portfolio, with Bally\u2019s benefiting from the expansion and diversification of our geographic profile. We emerged from these transactions significantly stronger, with the financial and operating wherewithal to continue to drive growth across our expanded Casinos & Resorts (\u201cC&R\u201d) segment, our International Interactive business and our North America Interactive segment.\n<\/p>\n \n\u201cC&R fourth quarter segment results reflect the underlying stability in the domestic regional gaming environment offset by several ongoing pockets of relative weakness, which are inherent across any broad property portfolio. Segment Adjusted EBITDAR declined 14.6% year over year to $80.9 million reflecting higher costs and lower flow-through exacerbated by the revenue decline. Our Chicago Temporary Casino\u2019s results were consistent with prior quarters as they remain below our expectations, though we are hearing from customers that they are increasingly excited by what is starting to happen a few blocks northwest at the permanent site. Rhode Island visitation remains a challenge given the ongoing local bridge construction, with our Lincoln property impacted particularly at peak times. Atlantic City\u2019s performance continues to reflect the impact of the turnover in our relationship marketing team though we believe this issue has largely been addressed. Partially offsetting these challenges was strength in markets such as Kansas City where our business benefited from the opening of a new high-limit room in the quarter. In addition, while not included in our fourth quarter results, the Queen properties combined to generate fourth quarter revenue of $57.6 million and Adjusted EBITDAR of $15.2 million.\n<\/p>\n \n\u201cInternational Interactive revenue continues to benefit from strength in our U.K. operations, offset by ongoing weakness in certain non-U.K. markets. While segment-level revenue declined 9.1% to $214.5 million, U.K. revenue grew a healthy 11.3% (7.9% in constant currency). U.K growth was driven by strong player retention and uplifts from revenue optimization initiatives. Adjusted EBITDAR margins declined 145 basis points year over year, leading to overall International Interactive Adjusted EBITDAR of $81.6 million, down 12.4% year over year. During the quarter, we announced the divestiture of the distribution operations of our interactive business in Asia and certain other international markets to a new independently managed company. As a result of the divestiture, we have deconsolidated the operations and changed the accounting presentation to purely licensing revenues. Excluding revenue recognized from divested markets and licensing revenue recognized, International Interactive revenue grew 12.9% versus the prior year quarter, demonstrating the strong underlying financial performance of this business that is now focused primarily on regulated European markets.\n<\/p>\n \n\u201cUnderlying results for the North America Interactive segment demonstrated favorable performance across the board, with revenue up 24.4% and an Adjusted EBITDAR loss of $12.3 million. That said, segment performance was negatively impacted during the quarter by the transition to a new unified platform, an impact we expect will reverse itself in the first quarter. Rhode Island continued to ramp as it captured some of the play lost at our brick-and-mortar properties due to the previously mentioned bridge construction issues. During the quarter we launched the Monopoly Casino app in New Jersey to very healthy customer response and launched our Bally Bet online sports betting platform in Tennessee. We continue to gain strong customer support for our iGaming and sports product offerings which we believe will result in positive long-term performance from this segment.\u201d\n<\/p>\n \nGeorge Papanier, Bally\u2019s President, added, \u201cFourth quarter revenue performance in our C&R segment reflects our ongoing work to unify our regional gaming portfolio, efforts which will accelerate now that the four Queen assets have been added to our business, as well as lingering pockets of relative weakness in certain portions of our geographic reach as previously noted. Despite this, Bally\u2019s many growth opportunities remain firmly intact. We received final approval from the City of Chicago for our re-imagined permanent Bally\u2019s Chicago Casino master plan in December, and we recently completed demolition and began construction at the permanent development site. Site work on the former Tropicana land continues and the A\u2019s are making good progress towards the start of their stadium construction later this year while Bally\u2019s progresses on the realization of a more fully fleshed out integrated resort master plan for the remainder of our extremely valuable site. Further, the landside conversions at Queen’s Belle of Baton Rouge and Casino Queen Marquette remain on schedule, providing two of our newest assets with an attractive runway for growth on par with similar conversions across the industry. Importantly, the entire Queen portfolio is benefiting or poised to benefit from the repositioning of these assets which will provide our C&R segment with a nice tailwind for the foreseeable future. Collectively, these growth opportunities and our own ability to operate more efficiently and effectively across the portfolio have us optimistic for 2025 and beyond.\u201d\n<\/p>\n \nMarcus Glover, Bally\u2019s Chief Financial Officer, concluded, \u201cAs we close out 2024 and begin 2025, our team is working diligently across multiple fronts to optimize our cost structure, enhance the efficiency of our operations, adopt certain best practices from Queen, and set the stage for significant long-term value creation. We look forward to learning from our newest team members who came to Bally\u2019s from Queen and we\u2019re working hand in hand with the team at Standard General to take an end-to-end look at our business. Bally\u2019s 2.0 is very well positioned to deliver enhanced value for all of our stakeholders that are invested in the Company\u2019s future and we look forward to reporting on our successes in the coming quarters and years.\u201d\n<\/p>\n Reconciliation of GAAP Measures to Non-GAAP Measures<\/b><\/p>\n \nTo supplement the financial information presented on a generally accepted accounting principles (\u201cGAAP\u201d) basis, Bally\u2019s has included in this earnings release the non-GAAP financial measure for Adjusted International Interactive Revenue Growth, which excludes revenue from divested markets and licensing revenue. The reconciliation of this non-GAAP financial measure to its comparable GAAP financial measure is presented in the table appearing below.\n<\/p>\n \n\u201cAdjusted EBITDA\u201d is earnings, or loss, for Bally\u2019s, or where noted Bally\u2019s reportable segments, before, in each case, interest expense, net of interest income, provision (benefit) for income taxes, depreciation and amortization, non-operating (income) expense, acquisition and other transaction related costs, share-based compensation, and certain other gains or losses as well as, when presented for Bally\u2019s reporting segments, an adjustment related to the allocation of corporate costs among segments.\n<\/p>\n \n\u201cSegment Adjusted EBITDAR\u201d is Adjusted EBITDA (as defined above) for Bally\u2019s reportable segments, plus rent expense associated with triple net operating leases for the real estate assets used in the operation of the Bally\u2019s casinos and the assumption of the lease for real estate and land underlying the operations of the Bally\u2019s Lake Tahoe property. For the International Interactive, North America Interactive, and Other segments, Segment Adjusted EBITDAR and segment Adjusted EBITDA are equivalent due to a lack of triple net operating lease for real estate assets used in those segments.\n<\/p>\n \nManagement has historically used consolidated Adjusted EBITDA and segment Adjusted EBITDAR when evaluating operating performance because Bally\u2019s believes that these metrics are necessary to provide a full understanding of Bally\u2019s core operating results and as a means to evaluate period-to-period performance. Management also believes that consolidated Adjusted EBITDA and segment Adjusted EBITDAR are measures that are widely used for evaluating operating performance of companies in Bally\u2019s industry and a principal basis for valuing such companies as well. Consolidated Adjusted EBITDAR is used outside of our financial statements solely as a valuation metric. Management believes Consolidated Adjusted EBITDAR is an additional metric traditionally used by analysts in valuing gaming companies subject to triple net leases since it eliminates the effects of variability in leasing methods and capital structures. Consolidated Adjusted EBITDA and segment Adjusted EBITDAR should not be construed as alternatives to GAAP net income as an indicator of Bally\u2019s performance. In addition, consolidated Adjusted EBITDA or segment Adjusted EBITDAR as used by Bally\u2019s may not be defined in the same manner as other companies in Bally\u2019s industry, and, as a result, may not be comparable to similarly titled non-GAAP financial measures of other companies.\n<\/p>\n \nBally\u2019s does not provide a reconciliation of Adjusted EBITDAR on a forward-looking basis to net income, its most comparable GAAP financial measure, because Bally\u2019s is unable to forecast the amount or significance of certain items required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items include depreciation, impairment charges, gains or losses on retirement of debt, acquisition, integration and restructuring expenses, interest expense, share-based compensation expense, professional and advisory fees associated with Bally\u2019s capital return program and variations in effective tax rate, which are difficult to predict and estimate and are primarily dependent on future events, but which are excluded from Bally\u2019s calculation of Adjusted EBITDAR. Bally\u2019s believes that the probable significance of providing this forward-looking valuation metric without a reconciliation to the most directly comparable GAAP metric, is that investors and analysts will have certain information that Bally\u2019s believes is useful and meaningful in valuing its business. Investors are cautioned that Bally\u2019s cannot predict the occurrence, timing or amount of all non-GAAP items that may be excluded from Adjusted EBITDAR in the future. Accordingly, the actual effect of these items, when determined, could potentially be significant to the calculation of Adjusted EBITDAR.\n<\/p>\n About Bally\u2019s Corporation<\/b><\/p>\n \nBally\u2019s Corporation (NYSE: BALY) is a global casino-entertainment company with a growing omni-channel presence. Bally\u2019s owns and operates 19 casinos across 11 states, along with a golf course in New York and a horse racetrack in Colorado, and holds OSB licenses in 13 jurisdictions in North America. The acquisition of Aspers Casino in Newcastle, UK, expands its international reach. It also owns Bally Bet, a first-in-class sports betting platform, Bally Casino, a growing iCasino platform, Bally\u2019s Interactive International division (formerly Gamesys Group), a leading global interactive gaming operator, and a significant economic stake in Intralot S.A. (ATSE: INLOT), a global lottery management and services business.\n<\/p>\n \nWith 11,500 employees, its casino operations include approximately 17,700 slot machines, 630 table games, and 3,950 hotel rooms. Bally\u2019s also has rights to developable land in Las Vegas at the site of the former Tropicana Las Vegas.\n<\/p>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan\u201d and \u201cwill\u201d or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by Bally\u2019s in this press release, its reports filed with the Securities and Exchange Commission (\u201cSEC\u201d) and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for Bally\u2019s to predict or identify all such events or how they may affect it. Bally\u2019s has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include those included in Bally\u2019s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by Bally\u2019s with the SEC. These statements constitute Bally\u2019s cautionary statements under the Private Securities Litigation Reform Act of 1995.\n<\/p>\n Revenue and Segment Adjusted EBITDAR (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Quarter Ended December 31,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Year Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n324,375\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n342,317\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,363,113\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,363,291\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInternational Interactive\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n214,477\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n235,980\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n909,493\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n973,210\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n41,513\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33,373\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n177,872\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n112,572\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n580,365\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n611,670\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,450,478\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,449,073\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDAR(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts(2)<\/sup><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n80,857\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n94,656\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n370,518\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n428,968\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInternational Interactive\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n81,606\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,207\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n336,460\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n343,559\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(12,345\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(9,844\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(40,236\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(55,653\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(11,835\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(17,083\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(52,212\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(63,770\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)\n<\/p>\n<\/td>\n \nSegment Adjusted EBITDAR is Bally\u2019s reportable segment GAAP measure and its primary measure for profit or loss for its reportable segments. \u201cSegment Adjusted EBITDAR\u201d is Adjusted EBITDA (as defined above) for Bally\u2019s reportable segments, plus rent expense associated with triple net operating leases for the real estate assets used in the operation of the Bally\u2019s casinos and the assumption of the lease for real estate and land underlying the operations of the Bally\u2019s Lake Tahoe property. For the International Interactive, North America Interactive, and Other segments, segment Adjusted EBITDAR and segment Adjusted EBITDA are equivalent due to a lack of triple net operating lease for real estate assets used in those segments.\n<\/p>\n<\/td>\n<\/tr>\n \n(2)\n<\/p>\n<\/td>\n \nIncludes rent expense of $30.3 million and $118.9 million for the fourth quarter and full year 2024, respectively, in connection with operating lease components contained within our triple net leases with GLPI for the real estate assets used in the operations of certain Casinos & Resorts properties, and the triple net lease associated with the real estate and land underlying the operations of the Bally\u2019s Lake Tahoe facility.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Selected Financial Information (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n Balance Sheet Data<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n December 31, \n\u00a0\n<\/p>\n<\/td>\n December 31, \nCash and cash equivalents\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n171,233\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n163,194\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRestricted cash\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n60,021\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n152,068\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTerm Loan Facility(1)<\/sup><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,886,650\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,906,100\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRevolving Credit Facility\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n335,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n5.625% Senior Notes due 2029\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n750,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n750,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n5.875% Senior Notes due 2031\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n735,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n735,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLess: Unamortized original issue discount\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(19,760\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(23,756\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLess: Unamortized deferred financing fees\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(33,117\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(39,709\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, including current portion\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,318,773\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,662,635\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLess: Current portion of Term Loan and Revolving Credit Facility\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(19,450\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(19,450\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, net of discount and deferred financing fees; excluding current portion\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,299,323\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,643,185\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Cash Flow Data<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Quarter Ended December 31,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Year Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nCapital expenditures\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n44,070\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n45,252\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n44,893\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n199,827\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n311,483\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n212,256\n<\/p>\n<\/td>\n<\/tr>\n \nCash paid for capitalized software\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,730\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,297\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,704\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n44,864\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n45,200\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,121\n<\/p>\n<\/td>\n<\/tr>\n \nAcquisition of gaming licenses\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n851\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n135,335\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,087\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,508\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n145,485\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n55,117\n<\/p>\n<\/td>\n<\/tr>\n \nCash payments associated with triple net operating leases(2)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n36,887\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,935\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,446\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n127,649\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n118,416\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n58,029\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n________________________________\n<\/p>\n<\/td>\n<\/tr>\n \n(1)\n<\/p>\n<\/td>\n \nThe Company has entered certain currency swaps to synthetically convert $500 million of its Term Loan Facility to \u20ac461.6 million fixed-rate Euro-denominated instrument due October 2028 paying a weighted-average fixed-rate coupon of approximately 6.69% per annum. The Company also entered certain currency swaps to synthetically convert $200 million notional amount of its floating rate Term Loan Facility to an equivalent \u00a3159.2 million GBP-denominated floating rate instrument with tenor of the swap instrument due October 2026. Additionally, as part of the Company\u2019s risk management program, to further manage the Company\u2019s exposure to interest rate movements, the Company entered into an additional $1.0 billion notional in interest rate swap contract arrangements to fix interest rates until 2028.\n<\/p>\n<\/td>\n<\/tr>\n \n(2)\n<\/p>\n<\/td>\n \nConsists of payments made in connection with Bally\u2019s triple net operating leases, as defined above.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-GAAP Adjusted International Interactive Revenue<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Quarter Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n \nInternational Interactive revenue\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n214,477\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n235,980\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRevenue recognized from divested markets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(14,121\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(64,587\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLicensing revenue recognized\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,861\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAdjusted International Interactive revenue\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n193,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n171,393\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250305553972\/en\/<\/a><\/span><\/p>\n Investor Contact Media Contact KEYWORDS:<\/b> United States North America Rhode Island<\/p>\n INDUSTRY KEYWORDS:<\/b> Casino\/Gaming Entertainment<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n ________________________________<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2024<\/b><\/p>\n<\/td>\n\n \n
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2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Marcus Glover
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Chief Financial Officer
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401-475-8564
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ir@ballys.com<\/a><\/p>\n
\n<\/b>
James Leahy, Joseph Jaffoni, Richard Land
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JCIR
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212-835-8500
\n
baly@jcir.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250305553972\/en\/1954314\/3\/Baly%27s_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n