Bally’s Corporation Prices Senior Notes Offering; Obtains Commitments For New Credit Facilities

PROVIDENCE, R.I., Aug. 6, 2021 /PRNewswire/ — Bally’s Corporation («Bally’s») (NYSE: BALY) announced today that two of its unrestricted subsidiaries…

PROVIDENCE, R.I., Aug. 6, 2021 /PRNewswire/ — Bally’s Corporation («Bally’s«) (NYSE: BALY) announced today that two of its unrestricted subsidiaries (the «Escrow Issuers») priced (1) $750 million in aggregate principal amount of 5.625% senior notes due 2029 and (2) $750 million in aggregate principal amount of 5.875% senior notes due 2031 (together, the «Notes»). The Notes offering is expected to be completed on August 20, 2021, subject to customary closing conditions.

In addition, Bally’s announced that it obtained commitments, subject to satisfaction of customary closing conditions, for new bank credit facilities, which are expected to consist of a revolving credit facility in an aggregate principal amount of up to $620 million and a term loan facility in an aggregate principal amount of $1.945 billion.

The Notes offering and bank commitments are part of the financing for Bally’s proposed acquisition of Gamesys Group plc. The proceeds of the Notes offering will initially be placed in escrow subject to the satisfaction of the conditions of the Gamesys acquisition. Prior to satisfaction of the escrow release condition, the Notes will be senior secured obligations of only the Escrow Issuers. Upon satisfaction of the escrow release condition, Bally’s will assume these obligations and certain subsidiaries of Bally’s, including Gamesys and its subsidiaries, that guarantee Bally’s new credit facilities following receipt of applicable regulatory approvals will guarantee the Notes. Bally’s anticipates entering into definitive documentation for the new credit facilities concurrently with the satisfaction of the escrow release condition and the consummation of the Gamesys acquisition.

The Gamesys acquisition is expected to take place during the fourth quarter of 2021, subject to customary conditions, including regulatory approval. More information can be found at https://www.ballys.com/gamesys-documentation.

The Notes Offering

The Notes are being offered and sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 and to non–U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

The offer and sale of the Notes have not been registered under the Securities Act or any other applicable securities laws and the Notes may not be offered, sold, pledged or otherwise transferred within the United States or to or for the account of any U.S. person, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act or any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor will there be any sale of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Bally’s Corporation

Bally’s Corporation is a leading regional casino-entertainment company with a growing omni-channel presence of online sports betting and iGaming offerings in the US. It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 14 states. It also owns Bet.Works, a first-in-class B2B2C sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, and SportCaller, a leading global B2B free-to-play game provider.

With more than 6,000 employees, Bally’s operations, pro forma for pending acquisitions, include 15,837 slot machines, 532 table games and 5,355 hotel rooms. Upon closing the previously announced Tropicana Las Vegas (Las Vegas, NV) transaction, as well as completing the construction of a land-based casino near the Nittany Mall in State College, PA, Bally’s will own and manage 16 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol «BALY.»

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 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 Reports 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

Robert Lavan

Senior Vice President – Finance and Investor Relations

401-475-8564

InvestorRelations@ballys.com

Media Contact

Richard Goldman / David Gill

Kekst CNC

646-847-6102 / 917-842-5384

BallysMediaInquiries@kekstcnc.com

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SOURCE Bally’s Corporation