Bally’s boosts revolver, okays $735M casino deal

Bally’s Corporation entered into an Incremental Joinder Agreement that amends its existing Credit Agreement.

Rhea-AI Filing Summary

Bally’s Corporation entered into an Incremental Joinder Agreement that amends its existing Credit Agreement. The agreement increases commitments under Bally’s senior secured revolving credit facility due 2028 by $50 million, expanding the size of its available revolving credit line. It also records Jefferies Finance LLC’s consent to a proposed sale and leaseback of the Twin River Lincoln Casino Resort under an existing agreement with Gaming and Leisure Properties Inc. for $735 million before transaction expenses.

Both the increased revolving commitments and Jefferies’ consent to the proposed Twin River sale-leaseback are contingent upon required regulatory approvals and the occurrence of the Amendment No. 3 Extension Effective Date defined in a prior amendment to the Credit Agreement.

Insights

Credit & capital structure analyst

Bally’s adds $50M revolver capacity and advances a $735M sale-leaseback, both subject to conditions.

The agreement increases commitments under Bally’s senior secured revolving credit facility due 2028 by $50 million, which expands the committed size of its revolving credit line within the existing Credit Agreement framework. This can provide additional borrowing capacity for working capital, investments, or other corporate purposes, although specific intended uses are not described.

The document also notes Jefferies’ consent to a proposed sale and leaseback of the Twin River Lincoln Casino Resort for $735 million before transaction expenses under an existing agreement with Gaming and Leisure Properties Inc. This step relates to financing and ownership of that property rather than operating performance. Both the incremental revolver commitments and the consent to the sale-leaseback remain contingent on regulatory approvals and the Amendment No. 3 Extension Effective Date, so actual impact depends on these conditions being satisfied.

8-K Event Classification

2 items: 1.01, 2.03

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Bally’s Corporation (BALY) disclose in this 8-K?

Bally’s disclosed an Incremental Joinder Agreement that amends its existing Credit Agreement, adding $50 million of commitments to its senior secured revolving credit facility due 2028 and documenting consent to a proposed Twin River Lincoln Casino Resort sale-leaseback.

How much additional revolving credit capacity did Bally’s secure?

The Incremental Joinder Agreement provides an increase of commitments under Bally’s existing senior secured revolving credit facility due 2028 in an amount equal to $50 million.

What is the value of the proposed Twin River Lincoln Casino Resort sale-leaseback?

The proposed sale and leaseback transaction of Bally’s Twin River Lincoln Casino Resort under an existing agreement with Gaming and Leisure Properties Inc. is for $735 million before transaction expenses.

Who are the key counterparties in Bally’s new credit agreement amendment?

The Incremental Joinder Agreement is among Bally’s Corporation, Jefferies Finance LLC and Deutsche Bank AG, New York Branch, which acts as administrative agent under the amended Credit Agreement.

Are the new Bally’s credit commitments and sale-leaseback consent already effective?

Both the $50 million increase in revolving credit commitments and Jefferies’ consent to the proposed Twin River Lincoln Casino Resort sale-leaseback are contingent on regulatory approvals and the occurrence of the Amendment No. 3 Extension Effective Date defined in the Third Amendment to the Credit Agreement.

Where can investors find the full terms of Bally’s Incremental Joinder Agreement?

The full text of the Incremental Joinder Agreement is filed as Exhibit 10.1 and is incorporated by reference, providing the complete terms of the amendments to the Credit Agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/30/2025 - 06:09 AM Learn about SEC filing dates

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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): September 29, 2025

BALLY’S CORPORATION

(Exact name of registrant as specified in its charter)

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).

Emerging growth company ☐

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 1.01 Entry into a Material Definitive Agreement

On September 29, 2025, Bally’s Corporation (“Bally’s” or the “Company”) entered into an Incremental Joinder Agreement (the “Incremental Joinder Agreement”) with Jefferies Finance LLC (“Jefferies”) and Deutsche Bank AG, New York Branch, as administrative agent (in such capacity, the “Administrative Agent”) which amends that certain Credit Agreement, dated as of October 1, 2021 (as amended by that certain First Amendment to Credit Agreement, dated as of June 23, 2023, that certain Second Amendment to Credit Agreement, dated as of May 14, 2025, that certain Third Amendment to Credit Agreement, dated as of September 11, 2025 (the “Third Amendment”) and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Company, the Guarantors party thereto from time to time, the lenders from time to time party thereto, the Administrative Agent, Deutsche Bank AG, New York Branch, as collateral agent, and the other parties from time to time party thereto. The Incremental Joinder Agreement provides for (i) an increase of commitments under the Company’s existing senior secured revolving credit facility due 2028 in an amount equal to $50 million and (ii) Jefferies’ consent to the proposed sale and leaseback transaction of the Company’s Twin River Lincoln Casino Resort pursuant to an existing agreement between the Company and Gaming and Leisure Properties Inc. for $735 million before transaction expenses, in each case, contingent upon regulatory approvals and the occurrence of the Amendment No. 3 Extension Effective Date (as defined in the Third Amendment).

The foregoing description of the Incremental Joinder Agreement does not purport to be complete and is subject, and qualified by reference, to the full text of the Incremental Joinder Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.		Description
10.1		Incremental Joinder Agreement, dated as of September 29, 2025, by and among the Company, Jefferies Finance LLC and Deutsche Bank AG New York Branch, as administrative agent
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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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: September 30, 2025

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