Bally’s Corporation (NYSE: BALY) adds $1.1B term loan, closes $700M sale-leaseback

Rhea-AI Filing Summary

Bally’s Corporation entered into a new term loan credit facility due 2031, providing $1.1 billion of funded term loans from lenders including Ares Management Credit funds, King Street Capital Management and TPG Credit. The loans are secured by substantially all material assets of the company and its wholly-owned subsidiaries, subject to customary exceptions.

The company also completed a previously announced sale and leaseback of the real estate assets of its Twin River Lincoln Casino Resort with GLP Capital, L.P., receiving total consideration of $700 million before expenses and taxes. Initial cash rent for the property is $56 million per year with customary annual escalators. Bally’s plans to use the term loan proceeds for general corporate purposes, including development of Bally’s Bronx and Bally’s Chicago, and, together with other cash sources, to repay in full $1.47 billion of term loans maturing in 2028.

Insights

Capital structure and credit analyst

Bally’s executes large refinancing, monetizes real estate, and extends debt maturities.

Bally’s Corporation secured a new term loan facility due 2031 providing $1.1 billion of funded term loans, while also completing a sale-leaseback of its Twin River Lincoln Casino Resort for $700 million of consideration. The new debt is secured by substantially all material assets, with standard carve-outs.

Initial cash rent for the Lincoln property is $56 million annually with customary escalators, converting owned real estate into a long-term lease obligation. Management plans to use the new financing, plus proceeds from the Lincoln transaction and the prior Intralot deal, to repay in full $1.47 billion of term loans maturing in 2028, effectively pushing out the company’s maturity profile.

From a credit perspective, this reshapes Bally’s balance sheet by trading near-term 2028 maturities for a 2031 facility while adding long-term lease commitments. Actual leverage, interest cost, and rental burden are not detailed here, so the net effect on coverage and flexibility depends on terms and future performance disclosed in subsequent reports.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________

FORM 8-K

_______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 11, 2026

________________________

BALLY'S CORPORATION

Delaware			001-38850			20-0904604
(State or other jurisdiction of incorporation or organization)			(Commission File Number)			(I.R.S. Employer Identification No.)

100 Westminster Street
Providence			RI			02903
(Address of Principal Executive Offices and Zip Code)

________________________

(401) 475-8474

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12 (b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common stock, $0.01 par value			BALY			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).    □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 8.01    Other Events.

On February 11, 2026, Bally’s Corporation (the “Company”) issued a press release announcing its entry into a new term loan credit facility with lenders to provide it with $1.1 billion of funded term loans, and that the Company completed its previously announced sale and leaseback of the real estate assets of its Twin River Lincoln Casino Resort, pursuant to an agreement with GLP Capital, L.P. A copy of the press release is furnished as Exhibit 99.1 and incorporated by reference into this Item 8.01. The information provided pursuant to this Item 8.01, including Exhibit 99.1 in Item 9.01, is “furnished” and shall not be deemed to be “filed” with the SEC or incorporated by reference in any filing under the Exchange Act or the Securities Act, except as shall be expressly set forth by specific reference in any such filings.

Item 9.01        Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
10.1						Press Release, dated February 11, 2026.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BALLY'S CORPORATION
			By:			/s/ Kim M. Barker
			Name:			Kim M. Barker
			Title:			Chief Legal Officer

Date: February 12, 2026

Exhibit 99.1

BALLY’S CORPORATION ENTERS INTO PREVIOUSLY ANNOUNCED CREDIT FACILITY AND COMPLETES PREVIOUSLY ANNOUNCED TWIN RIVER LINCOLN SALE LEASEBACK

PROVIDENCE, R.I., - February 11, 2026 - Bally’s Corporation (NYSE: BALY) (“Bally’s” or the “Company”) announced today that it entered into a new term loan credit facility due 2031, providing it with $1.1 billion of funded term loans (the “Term Loans”). The Term Loans are provided by Ares Management Credit funds, as well as King Street Capital Management and TPG Credit. Separately, the Company completed its previously announced sale and leaseback of the real estate assets of its Twin River Lincoln Casino Resort (the “Lincoln Sale Leaseback”), pursuant to an agreement with GLP Capital, L.P. (“GLP”), a subsidiary of Gaming and Leisure Properties, Inc. (NASDAQ: GLPI). The Lincoln Sale Leaseback provided the Company with total consideration of $700 million, before transaction expenses and provisions for taxes. Initial cash rent for the Twin River Lincoln property is $56 million per annum, with customary annual escalators.

The proceeds from the Term Loans will be used for general corporate purposes, including, but not limited to, the development of Bally’s Bronx and Bally’s Chicago. The Company will also allocate cash on hand from the proceeds of the Intralot transaction (completed in October 2025) and the Lincoln Sale Leaseback, along with portions of the proceeds from the Term Loan issuance to repay in full the Company’s outstanding $1.47 billion in term loans maturing in 2028.

The Term Loans are secured by substantially all material assets of the Company and its wholly-owned subsidiaries, including the equity of Bally’s Intralot S.A. held by the Company, but in any event subject to customary exceptions and exclusions, such as the assets held by Bally’s Intralot S.A., and certain development assets, non-subsidiaries, and designated unrestricted subsidiaries.

Citizens Capital Markets served as financial advisor to Bally’s Corporation. Fried, Frank, Harris, Shriver & Jacobson LLP and Latham & Watkins LLP served as legal advisors to Bally’s Corporation.

About Bally’s Corporation

Bally’s (NYSE: BALY) is a fast-growing global entertainment brand with 19 casinos across 11 US states and one casino in Newcastle, UK, along with a golf course in New York and a horse racetrack in Colorado. Bally’s also owns Bally Bet, a first-in-class sports betting and igaming platform, licensed in 13 jurisdictions in North America. Bally’s holds a majority interest in Bally’s Intralot S.A. (ATSE: BYLOT), a leading lottery solutions supplier and igaming operator.   Bally's casino operations include approximately 17,700 slot machines, 630 table games, and 3,950 hotel rooms. Bally’s also has rights to developable land in Las Vegas at the site of the former Tropicana Las Vegas, has been awarded a license to build a full-scale casino and resort in The Bronx, New York and is developing an integrated destination resort in Chicago, Illinois.  Bally’s has approximately 10,800 employees across the world, recognized for their innovation, energy, and dedication to creating thrilling gaming experiences.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “plan” and “will” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by Bally’s in this press release, its reports filed with the Securities and Exchange Commission (“SEC”) and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for Bally’s to predict or identify all such events or how they may affect it. Bally’s has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include those included in Bally’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by Bally’s with the SEC. These statements constitute Bally’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

Investor Contact						Media Contact
Mira Mircheva						Joseph Jaffoni, Christin Armacost
Chief Financial Officer						JCIR
401-475-8564						212-835-8500
ir@ballys.com						baly@jcir.com

FAQ

What new financing did Bally’s Corporation (BALY) arrange in this 8-K?

Bally’s arranged a new term loan credit facility due 2031 providing $1.1 billion of funded term loans. The loans are supplied by Ares Management Credit funds, King Street Capital Management and TPG Credit and are secured by substantially all material assets, subject to customary exceptions.

What are the key terms of Bally’s Twin River Lincoln sale-leaseback?

Bally’s completed a sale-leaseback of its Twin River Lincoln Casino Resort real estate, receiving $700 million in total consideration. Initial cash rent for the property is $56 million per year, with customary annual escalators, under an agreement with GLP Capital, L.P.

How will Bally’s Corporation (BALY) use the new term loan proceeds?

Bally’s plans to use the $1.1 billion term loan proceeds for general corporate purposes, including development of Bally’s Bronx and Bally’s Chicago. Together with other cash sources, the company will also repay in full $1.47 billion of term loans maturing in 2028.

Which existing debt is Bally’s Corporation (BALY) repaying with these transactions?

Bally’s intends to repay in full $1.47 billion of term loans maturing in 2028. It will use a combination of proceeds from the new 2031 term loans, cash from the Lincoln sale-leaseback and cash from the previously completed Intralot transaction.

Who provided the new term loans to Bally’s Corporation (BALY)?

The new term loans are provided by Ares Management Credit funds, King Street Capital Management and TPG Credit. These lenders are supplying the $1.1 billion in funded term loans under the new credit facility due 2031 secured by Bally’s material assets.

What assets secure Bally’s Corporation’s new $1.1 billion term loans?

The new term loans are secured by substantially all material assets of Bally’s and its wholly-owned subsidiaries, including the equity of Bally’s Intralot S.A. held by the company. Certain assets, such as those held by Bally’s Intralot S.A. and designated unrestricted subsidiaries, are excluded.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 11.1 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.3 KB