Bally's Corp (NYSE: BALY) major holder discloses 66% ownership stake

Rhea-AI Filing Summary

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 28)

Bally's Corp

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

05875B304

(CUSIP Number)

Joseph Mause
Standard General L.P., 767 Fifth Avenue, 12th Floor
New York, NY, 10153
212-257-4701

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 05875B304

1

Name of reporting person

Standard General L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 32,480,973.00
9	Sole Dispositive Power
10	Shared Dispositive Power 32,480,973.00

11

Aggregate amount beneficially owned by each reporting person

32,480,973.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

66.07 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 05875B304

1

Name of reporting person

Kim Soohyung

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 61,053.00
8	Shared Voting Power 32,480,973.00
9	Sole Dispositive Power 61,053.00
10	Shared Dispositive Power 32,480,973.00

11

Aggregate amount beneficially owned by each reporting person

32,542,026.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

66.19 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value per share
(b)	Name of Issuer: Bally's Corp
(c)	Address of Issuer's Principal Executive Offices: 767 Fifth Avenue, 12th Floor, New York, UNITED STATES , 10153.
Item 1 Comment: This Amendment No. 28 to Schedule 13D (the "Amendment") relates to Common Stock, par value $0.01 per share ("Common Stock"), of Bally's Corporation, a Delaware corporation (the "Issuer" or the "Company"). This Amendment is being filed to amend the Schedule 13D that was originally filed on March 29, 2019 and amended on June 26, 2019, July 15, 2019, August 2, 2019, November 19, 2019, February 13, 2020, February 20, 2020, August 7, 2020, September 17, 2020, November 20, 2020, December 15, 2020, March 30, 2021, April 6, 2021, April 16, 2021, April 22, 2021, August 11, 2021, October 8, 2021, December 9, 2021, January 25, 2022, May 5, 2022, July 15, 2022, July 29, 2022, March 11, 2024, March 19, 2024, July 26, 2024, October 18, 2024, February 7, 2025, and September 17, 2025 (as amended, the "Schedule 13D"). Unless otherwise indicated in this Amendment, all capitalized terms have the meanings ascribed to them in the Schedule 13D. This Amendment is being filed to amend and supplement Item 5 of the Schedule 13D as set forth below.
Item 5.	Interest in Securities of the Issuer
(a)	See Items 7-13 of the cover pages and Item 2 above.
(b)	See Items 7-13 of the cover pages and Item 2 above.
(c)	On December 22, 2025, a private investment vehicle managed by Standard General transferred 623,875 shares of the Issuer's Common Stock to a third-party in repayment of approximately $11.5M owing under a promissory note held by the third-party. The percentages reported herein are based on a statement in the Issuer's Form 10-Q, filed with the Securities and Exchange Commission on November 12, 2025, that there were 49,162,136 shares of the Issuer's Common Stock outstanding as of September 30, 2025.
(d)	Not applicable.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Standard General L.P.

Signature:	/s/ Joseph Mause
Name/Title:	Joseph Mause, Chief Financial Officer
Date:	12/23/2025

Kim Soohyung

Signature:	/s/ Kim Soohyung
Name/Title:	Kim Soohyung
Date:	12/23/2025

FAQ

How much of Bally's Corp (BALY) does Standard General currently beneficially own?

Standard General L.P. reports beneficial ownership of 32,480,973 shares of Bally's Corp common stock, representing 66.07% of the outstanding shares based on 49,162,136 shares outstanding as of September 30, 2025.

What is Kim Soohyung’s reported ownership in Bally's Corp (BALY)?

Kim Soohyung reports beneficial ownership of 32,542,026 shares of Bally's Corp common stock, representing 66.19% of the class, including both sole and shared voting and dispositive power.

What transaction did Standard General report on December 22, 2025 involving Bally's Corp (BALY) shares?

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.

How were the ownership percentages for Bally's Corp (BALY) calculated in this filing?

The reported percentages are based on Bally’s statement in its Form 10-Q that there were 49,162,136 shares of common stock outstanding as of September 30, 2025, which is used as the denominator for the 66.07% and 66.19% calculations.

What type of filing is this for Bally's Corp (BALY) and what does it amend?

This document is Amendment No. 28 to a Schedule 13D relating to Bally's Corp common stock. It amends and supplements prior ownership reports originally filed on March 29, 2019 and subsequently amended on multiple dates, primarily to update Item 5 – Interest in Securities of the Issuer.

Who signed the updated Bally's Corp (BALY) ownership statement on behalf of Standard General?

The statement was signed by Joseph Mause, Chief Financial Officer, and by Kim Soohyung, each certifying that the information in the statement is true, complete, and correct.