Ballys Corp
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
BALY$12.02+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net (loss) income | $(173,914) | $178,336 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation and amortization | 159,746 | 74,561 |
| Non-cash lease expense | 14,222 | 13,972 |
| Share-based compensation | 3,058 | 6,040 |
| Amortization of debt discount and debt issuance costs | 2,877 | 2,766 |
| Gain on sale-leaseback | — | (374,186) |
| Gain on extinguishment of debt | — | (4,044) |
| Deferred income taxes | 26,890 | 58,818 |
| Net gain on assets and liabilities measured at fair value | (3,461) | (310) |
| Gain on equity method investments | (555) | (2,100) |
| Change in value of commercial rights liabilities | — | 267 |
| Change in contingent consideration payable | (1,835) | 1,206 |
| Foreign exchange (gain) loss | (2,816) | 4,308 |
| Other operating activities | 1,877 | (693) |
| Changes in operating assets and liabilities | (33,943) | 24,947 |
| Net cash used in operating activities | (7,854) | (16,112) |
| Cash flows from investing activities: | ||
| Cash paid for acquisitions, net of cash acquired | 208 | (38,243) |
| Proceeds from sale-leaseback | — | 411,000 |
| Capital expenditures | (28,053) | (43,678) |
| Cash paid for capitalized software | (13,583) | (7,143) |
| Acquisition of gaming licenses | (1,211) | (1,900) |
| Other investing activities | (762) | (400) |
| Net cash (used in) provided by investing activities | (43,401) | 319,636 |
| Cash flows from financing activities: | ||
| Issuance of long-term debt | 135,000 | — |
| Repayments of long-term debt | (119,863) | (152,483) |
| Deferred payables | 42,195 | — |
| Share repurchases | — | (19,753) |
| Other financing activities | (6,005) | (1,332) |
| Net cash provided by (used in) financing activities | 51,327 | (173,568) |
| Effect of foreign currency on cash and cash equivalents | (4,445) | 2,819 |
| Change in cash and cash equivalents and restricted cash held for sale | — | (1,097) |
| Net change in cash and cash equivalents and restricted cash | (4,373) | 131,678 |
| Cash and cash equivalents and restricted cash, beginning of period | 315,262 | 265,184 |
| Cash and cash equivalents and restricted cash, end of period | $310,889 | $396,862 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest, net of amounts capitalized | $100,128 | $82,724 |
| Income taxes paid, net of refunds | (10,410) | 6,113 |
| Non-cash investing and financing activities: | ||
| Unpaid property and equipment | $18,854 | $32,095 |
| Bally’s Chicago - land development liability | 956 | 142,567 |
| Unpaid internally developed software | 633 | — |
| Investment in GLP Capital, L.P. | — | 14,412 |
| Investment in RI Joint Venture | — | 17,832 |
| March 31, | December 31, | |
|---|---|---|
| Reconciliation of cash and cash equivalents and restricted cash: | 2024 | 2023 |
| Cash and cash equivalents | $169,356 | $163,194 |
| Restricted cash | 141,533 | 152,068 |
| Total cash and cash equivalents and restricted cash | $310,889 | $315,262 |
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