[Form 4] Bally's Corp Insider Trading Activity

Rhea-AI Filing Summary

Bally's Corp (BALY) Form 4: The filing reports that on 09/16/2025 a distribution or sale occurred in which 2,400,000 shares of Bally's common stock were disposed of with a transaction code J and reported price $0, reflecting a distribution from a private investment vehicle managed by Standard General L.P.

After the reported transaction, the reporting parties show 33,359,744 shares held indirectly and 56,548 shares held directly. The disclosure notes that Standard General is the investment manager of the private vehicles and that Soohyung Kim is a director of the general partner and the issuer; both reporting persons disclaim beneficial ownership except for pecuniary interest.

Positive

• Disclosure filed in accordance with Section 16, providing transparency on insider-related transactions
• Continuing substantial indirect ownership is disclosed: 33,359,744 shares remain beneficially owned indirectly

Negative

• Large disposition reported: 2,400,000 shares were distributed/disposed on 09/16/2025
• Transaction coded J with $0 price, indicating a distribution rather than a market sale which may warrant investor attention

Insights

Securities Analyst

TL;DR: A large distribution of 2.4M BALY shares was reported; substantial indirect holdings remain.

The Form 4 documents a distribution-coded transaction on 09/16/2025 where 2,400,000 shares were disposed of by a private investment vehicle managed by Standard General L.P. The report shows sizable continuing indirect ownership of 33,359,744 shares and a small direct holding of 56,548 shares. The filing contains the standard disclaimer that the reporting persons may be deemed to beneficially own shares by virtue of managerial or directorial roles but disclaim ownership except for pecuniary interest. This is a routine Section 16 disclosure detailing changes in ownership rather than corporate actions or financial results.

Corporate Governance Expert

TL;DR: Reporting clarifies roles and disclaimers; distribution originated from an affiliated investment vehicle.

The document explains the mechanics: shares were distributed by a private investment vehicle under Standard General's management, and Soohyung Kim is identified by roles that could create indirect beneficial ownership. The filing appropriately discloses signatures from both the individual and the firm representative. No additional corporate governance actions or changes in board composition are recorded in this Form 4.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kim Soohyung

(Last) (First) (Middle)

C/O STANDARD GENERAL L.P.

767 FIFTH AVENUE, 12TH FLOOR

(Street)

NEW YORK NY 10153

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bally's Corp [ BALY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/16/2025		J		2,400,000(1)	D	$0	33,359,744	I	See Footnote(2)
Common Stock								56,548	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Kim Soohyung

(Last) (First) (Middle)

C/O STANDARD GENERAL L.P.

767 FIFTH AVENUE, 12TH FLOOR

(Street)

NEW YORK NY 10153

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Standard General L.P.

(Last) (First) (Middle)

767 FIFTH AVENUE

12TH FLOOR

(Street)

NEW YORK NY 10153

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. A private investment vehicle managed by Standard General L.P. ("Standard General") distributed these shares of common stock of the Issuer in accordance with the terms of the investment vehicle.

2. These shares are beneficially owned by Standard General in its capacity as investment manager to private investment vehicles. Mr. Kim is a director of the general partner of the general partner of Standard General and Chief Investment Officer of Standard General, and in such capacities may be deemed to indirectly beneficially own the securities reported herein. Mr. Kim is also a director of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest in such shares, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

	/s/ Soohyung Kim	09/17/2025
	/s/ Standard General L.P., by Joseph Mause, Chief Financial Officer	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did the Form 4 report for Bally's Corp (BALY)?

The Form 4 reports a distribution-coded transaction on 09/16/2025 in which 2,400,000 shares were disposed of by a private investment vehicle managed by Standard General L.P.

How many BALY shares are beneficially owned after the reported transaction?

Following the reported transaction, the filing shows 33,359,744 shares beneficially owned indirectly and 56,548 shares directly.

Who are the reporting persons on this Form 4 for BALY?

The reporting persons are Soohyung Kim and Standard General L.P., with signatures dated 09/17/2025.

What does transaction code 'J' and price $0 mean in this filing?

The filing uses code J and a $0 price to indicate a distribution from a private investment vehicle, as stated in the Explanation of Responses.

Does the Form 4 state that the reporting persons claim beneficial ownership of the shares?

The filing includes a disclaimer: each reporting person disclaims beneficial ownership except to the extent of pecuniary interest in the reported shares.