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GENERAL INFORMATION | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
GENERAL INFORMATION | GENERAL INFORMATION Description of Business Bally’s Corporation (the “Company,” or “Bally’s”) is a global gaming, hospitality and entertainment company with casinos and resorts and online gaming (“iGaming”) businesses. The Company owns and manages the following properties within its Casinos & Resorts reportable segment:
Casinos & Resorts |  | Location |  | Type |  | Built/Acquired |  |
Bally’s Twin River Lincoln Casino Resort (“Bally’s Twin River”) |  | Lincoln, Rhode Island |  | Casino and Resort |  | 2004 |  |
Bally’s Arapahoe Park |  | Aurora, Colorado |  | Racetrack/OTB Site |  | 2004 |  |
Hard Rock Hotel & Casino Biloxi (“Hard Rock Biloxi”)(2) |  | Biloxi, Mississippi |  | Casino and Resort |  | 2014 |  |
Bally’s Tiverton Casino & Hotel (“Bally’s Tiverton”)(2) |  | Tiverton, Rhode Island |  | Casino and Hotel |  | 2018 |  |
Bally’s Dover Casino Resort (“Bally’s Dover”)(2) |  | Dover, Delaware |  | Casino, Resort and Raceway |  | 2019 |  |
Bally’s Black Hawk(1)(2) |  | Black Hawk, Colorado |  | Three Casinos |  | 2020 |  |
Bally’s Kansas City Casino (“Bally’s Kansas City”)(2) |  | Kansas City, Missouri |  | Casino |  | 2020 |  |
Bally’s Vicksburg Casino (“Bally’s Vicksburg”) |  | Vicksburg, Mississippi |  | Casino and Hotel |  | 2020 |  |
Bally’s Atlantic City Casino Resort (“Bally’s Atlantic City”) |  | Atlantic City, New Jersey |  | Casino and Resort |  | 2020 |  |
Bally’s Shreveport Casino & Hotel (“Bally’s Shreveport”)(2) |  | Shreveport, Louisiana |  | Casino and Hotel |  | 2020 |  |
Bally’s Lake Tahoe Casino Resort (“Bally’s Lake Tahoe”) |  | Lake Tahoe, Nevada |  | Casino and Resort |  | 2021 |  |
Bally’s Evansville Casino & Hotel (“Bally’s Evansville”)(2) |  | Evansville, Indiana |  | Casino and Hotel |  | 2021 |  |
Bally’s Quad Cities Casino & Hotel (“Bally’s Quad Cities”)(2) |  | Rock Island, Illinois |  | Casino and Hotel |  | 2021 |  |
Bally’s Chicago Casino (“Bally’s Chicago”)(3) |  | Chicago, Illinois |  | Casino |  | 2023 |  |
Bally’s Golf Links at Ferry Point (“Bally’s Golf Links”) |  | Bronx, New York |  | Golf Course |  | 2023 |  |
The Queen Baton Rouge(2) |  | Baton Rouge, Louisiana |  | Casino |  | 2025 |  |
The Belle of Baton Rouge(2) |  | Baton Rouge, Louisiana |  | Casino and Hotel |  | 2025 |  |
Casino Queen Marquette(2) |  | Marquette, Iowa |  | Casino |  | 2025 |  |
DraftKings at Casino Queen(2) |  | East St. Louis, Illinois |  | Casino and Hotel |  | 2025 |  |
__________________________________ (1) Includes Bally’s Black Hawk North Casino, Bally’s Black Hawk West Casino and Bally’s Black Hawk East Casino. (2) Properties leased from Gaming and Leisure Properties, Inc. (“GLPI”). Refer to Note 15 “Leases” for further information. (3) Temporary casino facility as permanent casino resort is constructed. Site of future permanent casino resort is leased from GLPI. The Company’s International Interactive reportable segment includes the Company’s interactive European gaming operations, the Company’s global licensing revenue generating operations, as well as one casino property, Bally’s Newcastle, in the UK. The North America Interactive reportable segment includes a portfolio of sports betting, iGaming, and free-to-play gaming brands, and the North American operations of Gamesys. Refer to Note 18 “Segment Reporting” for further information. Agreement and Plan of Merger On February 7, 2025, the Company completed the previously announced transactions under the Agreement and Plan of Merger (as amended, the “Merger Agreement”) with SG Parent LLC, a Delaware limited liability company (“Parent”), The Queen Casino & Entertainment, Inc., a Delaware corporation and affiliate of Parent (“Queen”), Epsilon Sub I, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub I”), Epsilon Sub II, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub II”, and together with the Company and Merger Sub I, the “Company Parties”), and, solely for purposes of specified provisions thereof, SG CQ Gaming LLC, a Delaware limited liability company (“SG Gaming” and together with Parent and Queen, the “Buyer Parties”). As a result of the transactions, at closing, Parent and its affiliates beneficially owned 73.8% of the issued and outstanding Company common stock. Pursuant to the Merger Agreement, (i) SG Gaming contributed to the Company all shares of common stock of Queen that it owns (the “Queen Share Contribution”) in exchange for 26,909,895 shares of common stock of the Company (“Company Common Stock”) based on a 2.4536890595 share exchange ratio, (ii) the Company issued approximately 3,542,201 shares of Company Common Stock to the other stockholders of Queen, (iii) immediately thereafter, Merger Sub I merged into the Company (the “Company Merger”), with the Company surviving the Company Merger and (iv) immediately thereafter, Merger Sub II merged into Queen (the “Queen Merger,” and together with the Company Merger, the “Merger”), with Queen surviving the Queen Merger as a direct, wholly owned subsidiary of the Company. At the effective time of the Merger, each share of the Company’s Common Stock issued and outstanding (other than shares of common stock owned by (i) the Company or any of its wholly owned subsidiaries, (ii) Parent or any of Parent’s affiliates, (iii) by holders exercising statutory appraisal rights; (iv) by SG Gaming following the Queen Share Contribution; or (v) by holders who have elected to have such shares remain issued and outstanding following the Company Merger (a “Rolling Share Election”)) were converted into the right to receive cash consideration equal to $18.25 per share of common stock (the “Per Share Price”). Each holder of shares of Company Common Stock (other than the Company or its subsidiaries) had the option to make a Rolling Share Election. Concurrently with the Merger Agreement, the Company and Parent entered into support agreements with Standard RI Ltd. (“SRL”) (the “SG Support Agreement”), SBG Gaming, LLC, a designated subsidiary of Sinclair (“SBG”) (the “SBG Support Agreement”), and Noel Hayden (the “Hayden Support Agreement”), collectively known as the “Support Agreements”. The Support Agreements obligated the parties to vote their respective shares in favor of the Merger Agreement and related transactions, and to make a Rolling Share Election for their shares, including those acquired through options or warrants. Additionally, under the SBG Support Agreement, SBG agreed to waive its right to the options it previously acquired under a Framework Agreement originally entered into in 2020 (the “Framework Agreement”), upon completion of the Merger, and in exchange, the Company issued SBG warrants to purchase 384,536 shares of the Company’s common stock under substantially similar terms to the Penny Warrants issued to SBG under the Framework Agreement. In connection with the Merger, as of February 7, 2025, all outstanding Performance Warrants became immediately exercisable at a price of $0.01 per share.

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