Ballys Corp

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 2, 2024

BALY$12.02+0.3%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows (unaudited)

	Six Months Ended June 30,
(in thousands)	2024	2023
Cash flows from operating activities:
Net (loss) income	$(234,110)	$152,685
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	238,528	153,748
Non-cash lease expense	28,876	28,117
Share-based compensation	7,530	12,330
Impairment charges	12,757	9,653
Amortization of debt discount and debt issuance costs	5,781	5,563
Gain on sale-leaseback	—	(374,321)
Gain on extinguishment of debt	—	(4,044)
Deferred income taxes	31,654	48,870
Net gain on assets and liabilities measured at fair value	(6,066)	(293)
Gain on equity method investments	(789)	(3,090)
Change in value of commercial rights liabilities	(6,317)	(7,291)
Change in contingent consideration payable	(795)	1,024
Foreign exchange (gain) loss	(3,799)	5,947
Proceeds from interest rate contracts	4,399	—
Other operating activities	2,277	1,041
Changes in operating assets and liabilities	(40,227)	34,111
Net cash provided by operating activities	39,699	64,050
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	208	(38,243)
Proceeds from sale-leaseback	—	411,000
Proceeds from net investment hedges	2,051	—
Capital expenditures	(63,762)	(119,546)
Cash paid for capitalized software	(24,209)	(14,342)
Acquisition of gaming licenses	(1,211)	(10,150)
Other investing activities	(679)	(4,743)
Net cash (used in) provided by investing activities	(87,602)	223,976
Cash flows from financing activities:
Issuance of long-term debt	230,000	35,000
Repayments of long-term debt	(224,725)	(177,345)
Deferred payables	60,796	—
Share repurchases	—	(30,458)
Other financing activities	(6,269)	(1,716)
Net cash provided by (used in) financing activities	59,802	(174,519)
Effect of foreign currency on cash and cash equivalents	(2,812)	(4,195)
Change in cash and cash equivalents and restricted cash held for sale	—	(1,648)
Net change in cash and cash equivalents and restricted cash	9,087	107,664
Cash and cash equivalents and restricted cash, beginning of period	315,262	265,184
Cash and cash equivalents and restricted cash, end of period	$324,349	$372,848

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

	Six Months Ended June 30,
(in thousands)	2024	2023
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	$158,505	$134,266
Income taxes paid, net of refunds	(13,630)	9,722
Non-cash investing and financing activities:
Unpaid property and equipment	$25,746	$26,793
Bally’s Chicago - land development liability	1,931	135,290
Unpaid internally developed software	781	904
Investment in GLP Capital, L.P.	—	14,412
Investment in RI Joint Venture	—	17,832

	June 30,	December 31,
Reconciliation of cash and cash equivalents and restricted cash:	2024	2023
Cash and cash equivalents	$154,733	$163,194
Restricted cash	169,616	152,068
Total cash and cash equivalents and restricted cash	$324,349	$315,262

ContentsView on SEC.gov

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