Ballys Corp

For the period ended Sep 30, 2024. Filed Nov 8, 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.

Sep 30, 2024 · Filed Nov 8, 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)

	Nine Months Ended September 30,
(in thousands)	2024	2023
Cash flows from operating activities:
Net (loss) income	$(481,965)	$90,883
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	316,328	231,235
Non-cash lease expense	43,546	42,835
Share-based compensation	11,629	18,587
Impairment charges	12,757	9,653
Amortization of debt discount and debt issuance costs	8,730	8,482
Loss (gain) on sale-leaseback	150,000	(374,321)
Gain on extinguishment of debt	—	(4,044)
Deferred income taxes	(9,401)	59,774
Net (gain) loss on assets and liabilities measured at fair value	(12,474)	12
Loss (gain) on equity method investments	284	(5,344)
Change in value of commercial rights liabilities	10,615	(11,967)
Change in contingent consideration payable	264	1,024
Foreign exchange loss (gain)	26,447	(2,512)
Proceeds from interest rate contracts	11,042	—
Other operating activities	14,061	8,021
Changes in operating assets and liabilities	(25,685)	46,041
Net cash provided by operating activities	76,178	118,359
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	208	(93,451)
Proceeds from sale-leaseback	—	411,000
Proceeds from net investment hedges	3,274	—
Capital expenditures	(155,757)	(266,231)
Cash paid for capitalized software	(36,134)	(35,903)
Acquisition of gaming licenses	(1,657)	(10,150)
Other investing activities	(1,015)	(7,512)
Net cash used in investing activities	(191,081)	(2,247)
Cash flows from financing activities:
Issuance of long-term debt	310,000	198,000
Repayments of long-term debt	(309,588)	(245,208)
Deferred payables	81,666	—
Share repurchases	—	(30,458)
Other financing activities	(6,370)	(1,894)
Net cash provided by (used in) financing activities	75,708	(79,560)
Effect of foreign currency on cash and cash equivalents	4,472	(2,251)
Change in cash and cash equivalents and restricted cash held for sale	—	(1,648)
Net change in cash and cash equivalents and restricted cash	(34,723)	32,653
Cash and cash equivalents and restricted cash, beginning of period	315,262	265,184
Cash and cash equivalents and restricted cash, end of period	$280,539	$297,837

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

	Nine Months Ended September 30,
(in thousands)	2024	2023
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	$256,161	$196,975
Income taxes paid, net of refunds	9,342	15,842
Non-cash investing and financing activities:
Unpaid property and equipment	$23,083	$24,608
Unpaid internally developed software	2,040	1,769
Bally’s Chicago - gaming license payable	—	135,250
Bally’s Chicago - land development liability	—	46,802
Investment in GLP Capital, L.P.	—	14,412
Investment in RI Joint Venture	—	17,832
Net purchase consideration for acquisitions	—	55,933

	September 30,	December 31,
Reconciliation of cash and cash equivalents and restricted cash:	2024	2023
Cash and cash equivalents	$190,975	$163,194
Restricted cash	89,564	152,068
Total cash and cash equivalents and restricted cash	$280,539	$315,262

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.