Bally's Business Summary

Bally's Corporation (NYSE: BALY) is a global gaming, hospitality, and entertainment company that generates revenue primarily through transaction-based gaming win and service-based hospitality fees across its physical and digital platforms. The company operates through three core business segments: Casinos & Resorts, which includes 19 land-based facilities across 11 U.S. states; International Interactive, a global online gaming division with a dominant presence in the United Kingdom and Europe; and North America Interactive, which manages the Bally Bet sportsbook and iCasino platforms. Following its 2025 merger with The Queen Casino & Entertainment (QC&E), Bally's has solidified its omnichannel strategy, integrating regional brick-and-mortar assets with a robust digital ecosystem. The company competes directly with industry giants such as Caesars Entertainment, PENN Entertainment, and MGM Resorts, positioning itself as a high-growth, mid-tier regional player with a significant international footprint and a specialized focus on regulated interactive markets. Originally founded in 2004 as BLB Investors—a joint venture between Starwood Capital Group, Kerzner International, and the Waterford Group—the company evolved from Twin River Worldwide Holdings into its current form under the strategic direction of Soohyung (Soo) Kim. As of February 2026, the leadership team is led by Soohyung Kim, who serves as Executive Chair and is the Managing Partner of majority shareholder Standard General L.P. Robeson Reeves, a veteran of the interactive gaming industry and former COO of Gamesys, serves as Chief Executive Officer, while Mira Mircheva, formerly of QC&E and Goldman Sachs, holds the role of EVP and Chief Financial Officer. The company is classified as a "controlled company" under NYSE rules, with Standard General L.P. maintaining a dominant ownership stake of approximately 74%, alongside other notable institutional investors including Sinclair Broadcast Group and Noel Hayden.