REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2025

Non-gaming Revenue

Performance Obligations

Hotel, food and beverage, licensing, and retail, entertainment and other services have been determined to be separate, stand-

alone performance obligations and revenue is recognized as the good or service is transferred at the point in time of the

transaction.

Technology services contracts involve the Company using its software to provide services related to customers’ lottery, VLT,

and sports betting operations. The Company will also provide related hardware and support services. Technology services

contracts can contain multiple performance obligations, including a performance obligation to stand ready to provide access to

the software throughout the contract term and distinct performance obligations for sales of related hardware and

implementation, customization, maintenance, and technical support services.

Transaction Price

The transaction price for hotel, food and beverage, licensing, and retail, entertainment and other, is the net amount collected

from the customer for such goods and services or under the license agreement. The estimated standalone selling price of hotel

rooms is determined based on observable prices. The standalone selling price of these goods and services are determined based

upon the actual retail prices charged to customers for those items.

The transaction price for technology services contracts is primarily variable and is generally based on either (i) a monthly fee

per enrolled machine, (ii) a percentage of gross revenue, or (iii) a percentage of net drop, which represents total amounts

wagered less winnings and payouts to players.

Revenue Recognition

Hotel revenue is recognized when the customer obtains control through occupancy of the room over their stay at the hotel.

Advance deposits for hotel rooms are recorded as liabilities until revenue recognition criteria are met. Food, beverage and retail

revenues are recognized at the time the goods are sold from Company-operated outlets. Licensing revenue is recognized under

the sales-and usage-based royalty exception available in ASC 606 for licenses of intellectual property whereby revenue is

recognized in the period that the underlying sale or usage occurs as the fees due to the Company are contingent and based on

the customer’s usage of the intellectual property. Technology services revenues from the use of the Company’s software to

provide services to customers are recognized over time as the variability is resolved. Other revenue includes cancellation fees

for hotel and meeting space services, which are recognized upon cancellation by the customer, and golf revenues from the

Company’s operations of Bally’s Golf Links, which are recognized at the time of sale. Additionally, other revenue includes

market access and business-to-business service revenue generated by the Bally's Intralot B2B and North America Interactive

reportable segments, which is recognized at the time the goods are sold or the service is provided, and are included in Non-

gaming revenue within our consolidated statements of operations.

The following table provides a disaggregation of total revenue by segment (in thousands):


	Casinos & Resorts	Bally's Intralot B2B	Bally's Intralot B2C	North America Interactive	Corporate & Other	Total
Period from February 8, 2025 to December 31, 2025 (Successor)
Gaming	$1,072,888	$—	$749,651	$166,915	$—	$1,989,454
Non-gaming:
Hotel	119,409	—	—	—	—	119,409
Food and beverage	125,877	—	—	—	—	125,877
Licensing	—	20,880	—	—	—	20,880
Technology Services	—	64,369	—	—	—	64,369
Retail, entertainment and other	64,264	12,105	3,345	29,395	7,091	116,200
Total non-gaming revenue	309,550	97,354	3,345	29,395	7,091	446,735
Total revenue	$1,382,438	$97,354	$752,996	$196,310	$7,091	$2,436,189
Period from January 1, 2025 to February 7, 2025 (Predecessor)
Gaming	$95,984	$—	$74,849	$14,934	$—	$185,767
Non-gaming:
Hotel	11,006	—	—	—	—	11,006
Food and beverage	11,304	—	—	—	—	11,304
Licensing	—	3,720	—	—	—	3,720
Retail, entertainment and other	6,005	—	416	2,007	273	8,701
Total non-gaming revenue	28,315	3,720	416	2,007	273	34,731
Total revenue	$124,299	$3,720	$75,265	$16,941	$273	$220,498
Year ended December 31, 2024 (Predecessor)
Gaming	$1,008,361	$—	$893,756	$149,551	$—	$2,051,668
Non-gaming:
Hotel	148,693	—	—	—	—	148,693
Food and beverage	134,853	—	360	—	—	135,213
Licensing	—	6,861	—	—		6,861
Retail, entertainment and other	71,206	—	8,516	20,766	7,555	108,043
Total non-gaming revenue	354,752	6,861	8,876	20,766	7,555	398,810
Total revenue	$1,363,113	$6,861	$902,632	$170,317	$7,555	$2,450,478

Liabilities related to contracts with customers as of December 31, 2025 (Successor) and 2024 (Predecessor) were as follows:


	Successor	Predecessor
	December 31, 2025	December 31, 2024
Unpaid wagers	$60,238	$32,992
Advanced deposits from customers	27,512	26,141
Loyalty programs	10,519	12,167
Total	$98,269	$71,300