Bally's Corp

Listed Company

BALYCIK 0001747079NYSEAcceleratedSmaller ReportingHotels & MotelsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.44B

Net Income

$-650.07M

Total Assets

$11.23B

Equity

$994.66M

Shares Out

48.54M

Op. Cash Flow

$-11.01M

Business

Bally's Corp is a global gaming, hospitality and entertainment company that owns and operates a portfolio of casinos and resorts and provides omni-channel physical and interactive gaming and entertainment experiences. It offers land-based casino gaming, hotels, restaurants, live entertainment, iGaming, online bingo, sportsbook, free-to-play games and technology platforms and services. The business is organized into three reportable segments—Casinos & Resorts, International Interactive and North America Interactive—and includes owned properties, interactive operations and related technology and loyalty programs. Bally’s distributes its products and services across the United States, Europe (including the UK) and Canada through its brick-and-mortar properties, online platforms, licensed brands and strategic partnerships.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	2,436	2,450	2,449	2,256	1,322
General and administrative	1,144	1,043	1,114	826	598
Impairment charges	182	249	150	464	5
Gain on sale-leaseback, net	0	−86	−374	−51	−53
Depreciation and amortization	293	380	350	301	145
Total operating costs and expenses	2,714	2,709	2,345	2,549	1,229
Loss from operations	−278	−258	104	−293	93
Interest expense, net	−365	−290	−278	−208	—
Other non-operating income (expense), net	25	−5	−12	47	−95
Total other expense, net	−340	−294	−290	−161	−212
Loss before income taxes	−618	−553	−186	−454	−119
Provision for income taxes	48	15	2	−29	−4
Net loss	−666	−568	—	—	—
Less: Net loss attributable to non-controlling interests	−15	0	—	—	—
Net loss attributable to Ballys Corporation	−650	−568	−188	−426	−115
Basic loss per share (in dollars per share)	−10.73	−11.71	−3.51	−7.32	−2.31
Diluted loss per share (in dollars per share)	−10.73	−11.71	−3.51	−7.32	−2.31
Weighted average common shares outstanding, basic (in shares)	61	48	53	58	50
Weighted average common shares outstanding, diluted (in shares)	61	48	53	58	50

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-01-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	798	174	171	163	213
Restricted cash	108	57	60	152	53
Accounts receivable, net	194	—	55	70	72
Inventory	56	—	19	15	14
Tax receivable	31	—	26	62	54
Prepaid expenses and other current assets	160	—	115	108	101
Total current assets	1,347	—	448	572	523
Property and equipment, net	1,064	—	631	1,175	1,202
Right of use assets, net	1,770	—	1,540	1,160	809
Goodwill	3,433	1,591	1,800	1,936	1,746
Intangible assets, net	3,001	1,941	1,307	1,871	1,962
Deferred tax asset	12	—	2	36	26
Other assets	606	—	127	110	33
Total assets	11,230	—	5,860	6,861	6,300
Current portion of long-term debt	37	—	19	19	19
Current portion of lease liabilities	105	—	66	55	33
Accounts payable	197	—	86	69	70
Accrued income taxes	20	—	25	78	56
Accrued and other current liabilities	1,328	—	481	652	574
Total current liabilities	1,687	—	678	875	756
Long-term debt, net	4,463	—	3,299	3,643	3,469
Long-term portion of lease liabilities	1,829	—	1,554	1,148	803
Deferred tax liability	554	—	118	126	138
Other long-term liabilities	152	—	179	233	18
Total liabilities	8,686	—	5,829	6,225	5,494
Commitments and contingencies (Note 19)	—	—	—	—	—
Common stock ($0.01 par value; 200,000,000 shares authorized; 48,524,809 (Successor) and 40,787,007 (Predecessor) shares issued; 48,524,809 (Successor) and 40,787,007 (Predecessor) shares outstanding)	484,000	—	408,000	400,000	466,000
Preferred stock ($0.01 par value; 10,000,000 shares authorized; no shares outstanding)	0	—	0	0	0
Additional paid-in-capital	1,575	—	1,414	1,400	1,636
Accumulated deficit	−650	—	−1,124	−556	−535
Accumulated other comprehensive income (loss)	69	—	−260	−210	−296
Total Ballys Corporation stockholders equity	995	—	31	635	806
Non-controlling interest	1,550	—	0	428,000	428,000
Total stockholders equity	2,545	1,173	31	636	806
Total liabilities and stockholders equity	11,230	—	5,860	6,861	6,300

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	293	380	350	301	145
Non-cash amortization of right of use assets	82	59	57	32	15
Share-based compensation	31	15	24	28	20
Impairment charges	182	249	—	—	—
Non-cash amortization of debt discounts, debt issuance costs and fair value adjustments	77	12	11	11	8
Loss on extinguishment of debt	93	0	−4	0	103
Loss on disposal of business	0	28	0	0	—
Deferred income taxes	5	24	−24	−88	−5
Change in fair value of fair value option assets	−219	0	—	—	—
Loss from equity method investments	3	2	—	—	—
Change in value of performance warrants	0	14	8	−33	−17
Change in contingent consideration payable	63	1	1	−11	−24
Foreign exchange loss (gain)	35	−10	—	−516,000	33
Other operating activities	35	15	11	10	20
Changes in current operating assets and liabilities	−26	−20	—	—	—
Net cash used in (provided by) operating activities	−11	114	189	271	83
Cash paid for acquisitions, net of cash acquired	2,118	−788,000	—	—	—
Proceeds from sale-leaseback transactions	0	388	411	150	144
Cash paid for shares in Intralot	−14	0	—	—	—
Cash paid for The Star Investment	−128	0	—	—	—
Capital expenditures	−168	−200	−311	−212	−98
Proceeds from sale of property and equipment to GLPI	69	0	—	—	—
Cash paid for capitalized software	−35	−45	−45	−37	−16
Cash and cash equivalents transferred in sale of business	0	−4	0	0	—
Restricted cash transferred in sale of business	0	−38	0	0	—
Acquisition of gaming licenses	−3	−3	−145	−55	−30
Other investing activities	4	−459,000	−23	2	−19,000
Net cash provided by (used in) investing activities	1,842	98	−208	−303	−2,297
Issuance of long-term debt	1,330	440	448	597	3,788
Repayments of long-term debt	−1,939	−794	−280	−564	−1,878
Debt prepayment premium	−38	0	0	0	−68
Deferred payables, net	−41	74	0	0	—
Payment of financing fees	−21	0	0	0	−65
Share repurchases	−416	0	—	—	—
Ballys Chicago Inc. share issuance	18	0	0	0	668
Other financing activities	−12	−7	−3	−6	−3
Net cash (used in) provided by financing activities	−1,141	−288	66	43	2,405
Effect of foreign currency on cash and cash equivalents	−14	−8	5	−21	−42
Net change in cash and cash equivalents and restricted cash	676	−84	50	−10	148
Cash paid for interest, net of amounts capitalized	341	314	250	201	66
Unpaid property and equipment	24	20	22	24	31
Unpaid capitalized software	2	5	2	0	0
Non-controlling interest acquired	1,064	−428,000	0	3	4
Initial recognition of Ballys International Interactive non-controlling interest	−534	0	—	—	—
Unpaid New York gaming license fee	500	0	—	—	—
Intralot shares received as settlement of loan receivable	47	0	—	—	—
Consideration receivable from sale of assets	3	0	—	—	—
Sale of business in exchange for note receivable	0	33	0	0	—
Investment in GLP Capital, L.P.	0	7	14	0	0

Filings

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