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LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Quantitative Information of Operating Leases Components of the Company’s lease costs were as follows:
Successor
Predecessor
Period from
February 8,
2025 to
December 31,
2025
Period from
January 1,
2025 to
February 7,
2025
Year Ended
December 31,
2024
(in thousands)
Operating lease expense(1)
Operating lease cost
$208,377
$21,714
$157,829
Variable lease cost
8,873
1,238
12,121
Operating lease expense
217,250
22,952
169,950
Short-term lease expense
21,925
2,393
22,871
Total operating lease expense
$239,175
$25,345
$192,821
Gain on sale lease-back, net(2)(3)
$—
$—
$86,254
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(1)Included within “General and administrative” in the Consolidated Statements of Operations
(2)Included within “Gain on sale-leaseback, net” in the Consolidated Statements of Operations.
(3)Gain on sale-leaseback, net includes a gain of $26.4 million and $209.8 million from the termination of the previous right of use assets and lease liabilities
and difference in the transaction price and the derecognition of assets, respectively, related to Bally’s Kansas City and Bally’s Shreveport, as well as a loss
of $150.0 million as a result of the lease modification of the land underlying the Company’s Bally’s Chicago project during the year ended December 31,
2024 (Predecessor).
Supplemental cash flow and other information related to operating leases are as follows:
Successor
Predecessor
Period from
February 8,
2025 to
December 31,
2025
Period from
January 1,
2025 to
February 7,
2025
Year Ended
December 31,
2024
(in thousands)
Cash paid for amounts included in the lease liability - operating cash flows
from operating leases
$195,915
$30,843
$145,891
Right of use assets obtained in exchange for operating lease liabilities
$129,273
$—
$495,747
Derecognition of operating leases
$(259,607)
$—
$—
Derecognition of financing obligation
$—
$—
$(200,000)
Successor
Predecessor
December 31, 2025
December 31, 2024
Weighted average remaining lease term
15.6 years
26.2 years
Weighted average discount rate
7.3%
8.5%
Schedule of Future Minimum Rental Commitments As of December 31, 2025 (Successor), future minimum lease payments under noncancelable operating leases are as follows:
(in thousands)
2026
$236,872
2027
230,118
2028
229,308
2029
229,933
2030
231,032
Thereafter
2,255,078
Total lease payments
3,412,341
Less: present value discount
(1,478,504)
Lease obligations(1)
$1,933,837
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(1)Total lease obligations exclude future minimum lease payments under the Chicago MLA, which has not yet commenced as of December 31, 2025
(Successor).