BALLYS SEC Filings

Standard General L.P. has updated its ownership report for Bally's Corp common stock. Standard General beneficially owns 32,480,973 shares, representing 66.07% of the outstanding common stock based on the company’s reported 49,162,136 shares outstanding as of September 30, 2025. Kim Soohyung is reported as beneficially owning 32,542,026 shares, or 66.19% of the class, through direct and shared voting and dispositive power.

On December 22, 2025, a private investment vehicle managed by Standard General transferred 623,875 shares of Bally’s common stock to a third party in repayment of approximately $11.5 million owed under a promissory note. The amendment primarily updates the ownership percentages and reflects this share transfer, while confirming that other information from prior ownership reports remains in effect.

Bally’s Corporation filed an amended current report to add unaudited pro forma condensed combined financial information for Bally’s, Intralot S.A., and The Queen Casino & Entertainment, Inc. The pro forma data covers the combined businesses as of June 30, 2025, for the year ended December 31, 2024, and for the six months ended June 30, 2025, and is provided in Exhibit 99.1. The amendment states that no other part of the earlier October 8, 2025 report is changed, and it does not discuss any new developments at Bally’s or its subsidiaries.

Bally’s Corporation reported that it has entered into an amended and restated commitment letter that replaces a financing commitment originally arranged in July 2025. The new agreement provides up to $600 million of initial term loan commitments and up to $500 million of delayed draw term loan commitments from Ares Management Credit funds, King Street Capital Management, and TPG Credit. The company expects this new financing to be completed in the first quarter of 2026, subject to customary closing conditions, including completing the Twin River Lincoln Casino sale-leaseback transaction and repaying all of its existing term loan.

Bally's Corporation (BALY)11/24/2025, a private investment vehicle managed by Standard General distributed 254,896 shares of Bally's common stock in accordance with the vehicle's terms, at a reported price of $0 per share, coded as transaction type "J." After this transaction, the reporting persons show 33,104,848 shares of Bally's common stock beneficially owned indirectly and 61,053 shares owned directly. The filing states that Standard General and Mr. Kim may be deemed to indirectly beneficially own the reported securities but each disclaims beneficial ownership beyond his or its pecuniary interest.

Bally’s Corporation filed its quarterly report for the period ended September 30, 2025. The company reported Q3 revenue of $663,716 thousand and a net loss attributable to Bally’s of $102,912 thousand, or $1.70 per basic share. Income from operations was $989 thousand, reflecting higher costs and interest expense.

Following the February 7, 2025 merger with Queen, Parent and affiliates beneficially owned 73.8% of the common stock at closing. Bally’s issued 26,909,895 shares to SG Gaming and approximately 3,542,201 shares to other Queen stockholders, with the per share price under the agreement set at $18.25 for cash electing holders. The company repurchased shares for $416,180 thousand and issued warrants to purchase 384,536 shares in connection with a support agreement.

As of September 30, 2025, total assets were $7,554,927 thousand, long‑term debt was $3,722,621 thousand, and stockholders’ equity was $521,899 thousand. Cash and cash equivalents were $160,689 thousand, with restricted cash of $79,224 thousand. Operating cash flow for the Successor period was a use of $29,810 thousand, while financing activities provided $300,907 thousand, including $1,275,000 thousand of new debt and $591,349 thousand of repayments.

Bally’s Corporation filed a Form 12b-25 notifying a late filing of its Quarterly Report on Form 10‑Q for the period ended September 30, 2025. The company says it needs additional time to complete the review of its financial statements and expects to file the 10‑Q within the five‑day extension permitted under Rule 12b‑25.

Bally’s Corporation furnished a press release reporting results for the third quarter ended September 30, 2025. The release is attached as Exhibit 99.1 and incorporated by reference as stated. The Item 2.02 information, including Exhibit 99.1, is being furnished and will not be deemed “filed” under Section 18 of the Exchange Act or incorporated into other filings except as expressly stated.

Bally’s Corporation reported an amendment to its Contribution Agreement with GLP Capital, L.P. covering the Twin River Lincoln Casino & Hotel. The amendment extends the “Lincoln Open Call Date” — the date from which GLP may require Bally’s and its subsidiaries to contribute the property — to October 1, 2028.

Under the agreement, if GLP exercises this right after the open call date, consideration would equal $735.0 million, subject to the agreement’s terms and receipt of all required governmental approvals. This update is furnished under Item 8.01 and does not change prior financials or incorporate into other filings unless expressly stated.

Bally’s Corporation granted equity awards to senior leaders and reported an executive departure. On October 7, 2025, the CEO, Robeson Reeves, received 1,881,000 option rights at an exercise price of $18.25 per share. Half vest in three equal annual installments based on service; the other half are eligible to vest based on service through March 15, 2027, March 15, 2028 and March 15, 2029 and the achievement of performance criteria.

President George Papanier’s employment term was extended to December 31, 2028 (effective November 1, 2025), and he was granted 1,254,000 incentive stock options at $18.25 per share with the same service- and performance-based vesting structure. On October 8, 2025, EVP Global Operations Marcus Glover notified the Company of his departure to pursue other interests; the Company expects to negotiate a separation agreement.