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STOCKHOLDERS’ EQUITY | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
STOCKHOLDERS’ EQUITY | STOCKHOLDERS’ EQUITY Capital Return Program The Company has a Board of Directors approved capital return program under which the Company may expend a total of up to $700 million for share repurchases and payment of dividends. Future share repurchases may be effected in various ways, which could include open-market or private repurchase transactions, accelerated stock repurchase programs, tender offers or other transactions. The amount, timing and terms of any return of capital transaction will be determined based on prevailing market conditions and other factors. There is no fixed time period to complete share repurchases. As of September 30, 2025 (Successor) and December 31, 2024 (Predecessor), $95.5 million was available for use under the capital return program. There was no share repurchase activity under the capital return program and no cash dividends paid during all periods presented in the Company’s condensed consolidated financial statements. Common Stock Offering On April 20, 2021, the Company issued a total of 12,650,000 shares of Bally’s common stock in an underwritten public offering at a price to the public of $55.00 per share. Net proceeds from the offering were approximately $671.4 million, after deducting underwriting discounts, but before expenses. On April 20, 2021, the Company issued to affiliates of Sinclair a warrant to purchase 909,090 common shares for an aggregate purchase price of $50.0 million, or $55.00 per share. The net proceeds were used to finance a portion of the purchase price of the Gamesys acquisition. The exercise price of the warrant is nominal and its exercise is subject to, among other conditions, requisite gaming authority approvals. Sinclair agreed not to acquire more than 4.9% of Bally’s outstanding common shares without such approvals. In addition, in accordance with the agreements that Bally’s and Sinclair entered into in November 2020, Sinclair exchanged 2,086,908 common shares for substantially identical warrants. Preferred Stock The Company has authorized the issuance of up to 10 million shares of $0.01 par value preferred stock. As of September 30, 2025 (Successor) and December 31, 2024 (Predecessor), no shares of preferred stock have been issued. Shares Outstanding As of September 30, 2025 (Successor), the Company had 49,131,302 common shares issued and outstanding. The Company issued warrants and other contingent consideration in acquisitions and strategic partnerships that are expected to result in the issuance of common shares in future periods resulting from the exercise of warrants or the achievement of certain performance targets. These incremental shares are summarized below:
Sinclair Penny Warrants (Note 2) | 11,575,597
MKF penny warrants (Note 12) | 44,128
Outstanding awards under Equity Incentive Plans | 729,786
| 12,349,511
Accumulated Other Comprehensive Income (Loss) The following tables reflect the changes in accumulated other comprehensive loss by component:
Predecessor
(in thousands) | Foreign Currency Translation Adjustment |  | Benefit Plans |  | Cash Flow Hedges(1) |  | Net Investment Hedges |  | Total
Accumulated other comprehensive (loss) income at December 31, 2024 (Predecessor) | $ | (261,745) |  |  | $ | 1,746 |  |  | $ | (8,189) |  |  | $ | 7,921 |  |  | $ | (260,267) |
Other comprehensive income (loss) before reclassifications | (13,097) |  |  | — |  |  | 1,425 |  |  | 3,655 |  |  | (8,017) |
Reclassifications from accumulated other comprehensive income (loss) to earnings | — |  |  | — |  |  | (105) |  |  | 7 |  |  | (98) |
Tax effect | — |  |  | — |  |  | (352) |  |  | (976) |  |  | (1,328) |
Accumulated other comprehensive (loss) income at February 07, 2025 (Predecessor) | $ | (274,842) |  |  | $ | 1,746 |  |  | $ | (7,221) |  |  | $ | 10,607 |  |  | $ | (269,710) |
Successor
(in thousands) | Foreign Currency Translation Adjustment |  |  |  | Cash Flow Hedges(1) |  | Net Investment Hedges |  | Total
Accumulated other comprehensive (loss) income at February 8, 2025 (Successor) | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other comprehensive income (loss) before reclassifications | 167,541 |  |  |  |  | (28,310) |  |  | (53,444) |  |  | 85,787 |
Reclassifications from accumulated other comprehensive income (loss) to earnings | — |  |  |  |  | 2,318 |  |  | 1,960 |  |  | 4,278 |
Tax effect | (44,539) |  |  |  |  | 6,897 |  |  | 13,662 |  |  | (23,980) |
Accumulated other comprehensive income (loss) at September 30, 2025 (Successor) | $ | 123,002 |  |  |  |  | $ | (19,095) |  |  | $ | (37,822) |  |  | $ | 66,085 |
__________________________________ (1) As of September 30, 2025 (Successor), approximately $14.1 million of existing gains and losses are estimated to be reclassified into earnings within the next 12 months.
Predecessor
(in thousands) | Foreign Currency Translation Adjustment |  | Benefit Plans |  | Cash Flow Hedges |  | Net Investment Hedges |  | Total
Accumulated other comprehensive (loss) income at December 31, 2023 | $ | (177,203) |  |  | $ | 886 |  |  | $ | (11,246) |  |  | $ | (21,995) |  |  | $ | (209,558) |
Other comprehensive income (loss) before reclassifications | 103,342 |  |  | — |  |  | (26,507) |  |  | (16,153) |  |  | 60,682 |
Reclassifications from accumulated other comprehensive income (loss) to earnings | — |  |  | — |  |  | (9,678) |  |  | (3,170) |  |  | (12,848) |
Tax effect | — |  |  | — |  |  | 8,805 |  |  | 12,674 |  |  | 21,479 |
Accumulated other comprehensive (loss) income at September 30, 2024 | $ | (73,861) |  |  | $ | 886 |  |  | $ | (38,626) |  |  | $ | (28,644) |  |  | $ | (140,245) |

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