\nBally\u2019s Corporation (NYSE: BALY) (\u201cBally\u2019s\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026.<\/p>\n
First Quarter 2026 and Recent Highlights<\/b><\/p>\n Summary of Financial Results<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n Successor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Predecessor<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n Three Months Ended March 31, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from February 8, 2025 to March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from January 1, 2025 to February 7, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n379,728<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n226,851<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n124,299<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n239,938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n107,867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,265<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,456<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,941<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,644<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n273<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n755,722<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n368,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n220,498<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nRobeson Reeves, Bally\u2019s Chief Executive Officer, commented, \u201cWe delivered solid first quarter results across the enterprise and continue to make progress on growing and diversifying our global footprint, delivering on operational synergies and strengthening our balance sheet. We believe economic conditions in areas where we operate remain stable and are confident in our ability to leverage our operational expertise and capital resources to deliver on our highly anticipated growth projects.<\/p>\n \n\u201cDomestically, we continue to make substantial progress on Bally\u2019s Chicago \u2013 the only casino in the city limits of Chicago and the largest in the state of Illinois. In April, we celebrated the \u201ctopping out\u201d of the project with the completion of the structural steel. The permanent casino will feature approximately 3,400 slots, over 170 table games, a 500-room hotel tower, a 3,000-seat theater, ten food and beverage venues and a river-side public park.<\/p>\n \n\u201cFollowing the official receipt of our Gaming Facility License from the New York State Gaming Commission, we are thrilled to move forward with Bally\u2019s Bronx. Representing a $4.0 billion investment, this integrated resort is the largest private development in the borough\u2019s history. During the first quarter, we finalized critical capital allocations and land acquisitions to pave the way for construction. This included the $500 million statutory New York license fee payment, a $115 million contingent consideration for the golf course concession, and the securing of approximately 16 acres of parkland designated for the resort’s footprint. Expected to open by 2030, Bally\u2019s Bronx will be a world-class destination delivering broad community benefits. The 3-million-square-foot facility will feature a premier gaming floor, a luxury 500-room hotel, a 2,000-seat event center, and an 18-hole golf course. As a landmark project for the region, it will drive tremendous local opportunity \u2013 creating thousands of jobs and delivering over $765 million in dedicated community benefits.<\/p>\n \n\u201cWe also continue to move forward with our development of Bally\u2019s Las Vegas on the former Tropicana site, sharing a 35-acre campus with Major League Baseball\u2019s Las Vegas Athletics. This multi-phased project will feature an exciting mix of sports, casino, retail, dining, and immersive entertainment experiences with over 500,000 square feet of space and direct access to the ballpark. Construction of the A\u2019s stadium is well underway to support the team\u2019s 2028 season opening, while we are in active discussions with potential partners for exciting entertainment and retail offerings.<\/p>\n \n\u201cOn the interactive side, Bally\u2019s Intralot saw strong performance, particularly in our UK region and B2C business. We are now over seven months into the integration of Bally\u2019s International Interactive and Intralot and the teams have come together well, sharing common strategy and priorities while tracking in line with our synergy plan. While the higher UK remote gaming duty went into effect on April 1st, our UK business has been robust, and we remain confident in the gaming tax increase mitigation plan we disclosed last year. In this regard, during the first quarter we saw increasing active player numbers and grew revenue 10.5% year over year in constant currency.<\/p>\n \n\u201cIn the fourth quarter of 2025, following confirmation of suitability by Australian regulators, Bally\u2019s converted its loan to The Star Entertainment Group Limited (\u201cStar\u201d) into a 38% equity interest. Bally\u2019s management team is lending valuable expertise and support to Star and we\u2019re seeing both revenue and cost initiatives gain good traction. In early May, Star announced the full refinancing of its prior debt with a US$390 million facility from WhiteHawk Capital Partners, substantially increasing the company\u2019s liquidity and setting the stage for a continued recovery.<\/p>\n \n\u201cIn summary, our strategic initiatives are creating a scaled, growing, global omni-channel provider of retail and online experiences and we are aggressively pursuing and executing on the many growth opportunities before us.\u201d<\/p>\n First Quarter Financial Review<\/b><\/p>\n \nFirst quarter 2026 Casinos & Resorts revenue of $379.7 million rose 8.1% year over year, reflecting the addition of our Queen properties in February 2025. Year-over-year growth was notably strong at Bally\u2019s Baton Rouge (formerly the Belle of Baton Rouge) which opened landside in December 2025, as well as Marquette that moved landside in February 2026. Casinos & Resorts also saw strong growth in the Company\u2019s properties in Chicago and Quad Cities, partially offset by elevated competition in Shreveport and Dover. Overall, Bally\u2019s properties grew at a higher rate in the first quarter than competitors in our relevant markets. Casinos & Resorts Segment Adjusted EBITDAR grew 1.2% year over year to $96.2 million reflecting the first quarter 2026 revenue increase, partially offset by elevated competition and allocation of approximately $1.6 million of additional shared services costs from Corporate to Casinos & Resorts to better align with our business structure.<\/p>\n \nFirst quarter 2025 Bally\u2019s Intralot B2C revenue reflects continued strength in our U.K. operations. U.K. online revenue rose 10.5% in constant currency versus the first quarter of 2025, driven by a significant increase in new player volumes. During the quarter, we saw reduced marketing from weaker operators upon the tax increase announcement and our UK iGaming revenue growth in the first quarter outpaced that of our competitors. Revenues in Spain remained stable delivering 1.7% year over year in constant currency. Year over year growth in the Bally\u2019s Intralot B2C segment was further supported by the inclusion of Intralot\u2019s B2C starting in the fourth quarter of 2025.<\/p>\n \nThe Bally\u2019s Intralot B2B segment includes Intralot\u2019s B2B and B2G operations following the completion of the Intralot transaction in the fourth quarter of 2025. Prior year first quarter revenue and Segment Adjusted EBITDAR represent a royalty cash flow stream related to a divested business. Legacy Intralot B2B business saw essentially flat EBITDAR year over year, despite a revenue decline in the US due to softer lottery activity. Bally\u2019s presentation of Bally\u2019s Intralot B2B Segment Adjusted EBITDAR under US GAAP includes $7.5 million of negative IFRS to US GAAP adjustments due to different accounting treatment of software development costs and leases.<\/p>\n \nRevenue for our North America Interactive segment of $60.5 million rose 35.9% year-over-year in the first quarter and recorded negative Segment Adjusted EBITDAR of $7.1 million, a $0.9 million improvement over prior year. This reflected the impact of top line growth across all verticals. Revenue, customer retention and cost management initiatives implemented by the new North America Interactive leadership team are bearing the positive results we anticipated.<\/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 non-GAAP financial measures for consolidated Adjusted EBITDA and Segment Adjusted EBITDAR, which exclude certain items described below. The reconciliations of these non-GAAP financial measures to their comparable GAAP financial measures are presented in the tables appearing below.<\/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 reportable segments, an adjustment related to the allocation of corporate costs among segments.<\/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. For the Bally’s Intralot B2B, Bally’s Intralot B2C, 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.<\/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. Adjusted EBITDAR is used outside of our financial statements solely as a valuation metric. Management believes 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, 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.<\/p>\n About Bally\u2019s Corporation<\/b><\/p>\n \nBally\u2019s (NYSE: BALY) is a fast-growing global entertainment brand with 19 casinos across 11 U.S. states and one casino in Newcastle, UK, along with a golf course in New York and horse racetracks in Colorado and forthcoming in Wyoming. Bally\u2019s also owns Bally Bet, a first-in-class sports betting and igaming platform licensed in 14 jurisdictions in North America. Bally\u2019s holds a majority interest in Bally\u2019s Intralot S.A. (ATSE: BYLOT), a leading lottery solutions supplier and gaming operator active in 39 jurisdictions worldwide. Bally’s 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, has been awarded a license to build a full-scale casino and resort in The Bronx, New York, and an integrated destination resort in Chicago, Illinois. Bally\u2019s is the first publicly traded gaming company to achieve Minority Business Enterprise (MBE) certification through the National Minority Supplier Development Council (NMSDC). Bally\u2019s has over 12,000 employees across the world, recognized for their innovation, energy, and dedication to creating thrilling gaming experiences.<\/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.<\/p>\n Revenue and Segment Adjusted EBITDAR (unaudited)<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n Successor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Predecessor<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n Three Months Ended March 31, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from February 8, 2025 to March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from January 1, 2025 to February 7, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n379,728<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n226,851<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n124,299<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n239,938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n107,867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,265<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,456<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,941<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,644<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n273<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n755,722<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n368,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n220,498<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDAR(2)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n96,196<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n71,540<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n23,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,116<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n87,092<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,312<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,220<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7,137<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,345<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,661<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,336<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,703<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,774<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n Successor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Pro Forma Combined(1)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n Three Months Ended March 31, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended March 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n379,728<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n370,988<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n239,938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n183,132<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,456<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,644<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,809<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n755,722<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n611,068<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDAR(2)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n96,196<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n100,569<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,116<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n87,092<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,532<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7,137<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,587<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,336<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,788<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n Supplemental Unaudited Condensed Combined Financial Information<\/b><\/p>\n \nThe supplemental unaudited financial information below combines the historical results of operations of Bally\u2019s and Queen for the periods presented and has been prepared to reflect the merger as if they had occurred on January 1, 2025.<\/p>\n 2025 CONDENSED COMBINED INCOME STATEMENT INFORMATION<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n Bally\u2019s<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Queen<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Successor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Predecessor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n Period from February 8, 2025 to March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from January 1, 2025 to February 7, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from January 1, 2025 to February 7, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Combined Three Months Ended March 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n226,851<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n124,299<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n19,838<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n370,988<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,603<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n107,867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,265<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n183,132<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,941<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,038<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46,536<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n273<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,809<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n368,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n220,498<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,876<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n611,068<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted EBITDAR<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCasinos & Resorts<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n71,540<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n23,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,475<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n100,569<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2B<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBally\u2019s Intralot B2C<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,312<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,220<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,532<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNorth America Interactive<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,345<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,661<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,419<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,587<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCorporate & Other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,703<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,774<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,311<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,788<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Selected Financial Information (unaudited)<\/b><\/p>\n Balance Sheet Data<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n March 31, \n\u00a0<\/p>\n<\/td>\n December 31, \n2026 Term Loans<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,100,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTerm Loan Facility(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,472,594<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot British Term Loan<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n527,472<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n538,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot Greek Term Loan<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n229,305<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n234,962<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRevolving Credit Facility<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n303,750<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot 6.00% Greek Retail Bond due 2029<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n149,048<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n152,726<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFixed Rate Senior Notes:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n5.625% Senior Notes due 2029<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n750,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n750,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n5.875% Senior Notes due 2031<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n735,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n735,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot 6.75% Senior Secured Notes due 2031<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n687,916<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n704,886<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot Floating Rate Senior Notes due 2031(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n343,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n352,443<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntralot Supplemental Indenture<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,436<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Unamortized original issue discount<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(53,976<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Unamortized fair value adjustment(3)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(367,749<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(443,110<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, including current portion<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,407,101<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,500,657<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Current portion of Term Loan, and Intralot Greek Term Loan<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,198<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(37,344<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, net of discount and deferred financing fees; excluding current portion<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,389,903<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,463,313<\/p>\n<\/td>\n Cash Flow Data<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Successor<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Predecessor<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/p>\n<\/td>\n Three Months Ended March 31, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from February 8, 2025 to March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period from January 1, 2025 to February 7, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \nCapital Expenditures<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n38,864<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n30,457<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16,424<\/p>\n<\/td>\n<\/tr>\n \nCash paid for capitalized software<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,880<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,611<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,315<\/p>\n<\/td>\n<\/tr>\n \nAcquisition of gaming licenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n500,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nCash payments associated with triple net operating leases(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63,352<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,705<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,877<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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 Proforma combined financial information represents combined Bally\u2019s and Queen results for the periods presented. The Company believes proforma combined information will be beneficial to investors as it provides a baseline for comparative future results of the combined company. Refer to tables in this press release for a reconciliation of this non-GAAP financial measure to the most directly comparable measure calculated in accordance with GAAP.<\/td>\n<\/tr>\n \n \n Segment 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. For the Bally\u2019s Intralot B2C, Bally\u2019s Intralot B2B, North America Interactive and Corporate & Other segments, 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.<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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<\/b>
2026 (Successor)<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2025 (Successor)<\/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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\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
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260518394176\/en\/1954314\/3\/Baly%27s_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n