Slide 1: Bally's Corporation Second Quarter 2021 Investor Presentation
Bally’s Corporation Second Quarter 2021 Investor Presentation August 9, 2021
Slide 2: Disclaimer
Disclaimer This presentation and all information provided or discussed in connection therewith are confidential and being provided to you for informational use solely in connection with your consideration of the financing transaction contemplated herein. Acceptance of these materials constitutes you
Slide 3: Bally's Overview
Bally’s Overview
Slide 4: Key Second Quarter 2021 Updates
Key Second Quarter 2021 Updates • Closed three casino acquisitions (1) MontBleu Resort Casino & Spa – April 6, 2021; (2) Tropicana Evansville – June 3, 2021; and (3) Jumer’s Casino and Hotel – June 14, 2021 • Closed acquisition of Bet.Works and renamed Bally’s Interactive on May 28, 2021 • Entered i
Slide 5: Bally's Evolution
Bally’s Evolution 2013 2014 - 2020 2021 2022 and Beyond Regional Expansion of Land Based Single Market Operator Omni-Channel Growth Omni-Channel Gaming Leader Portfolio Interactive CASINOS Expanded to 16 regional casinos(1) 9 interactive acquisitions and media Gaming leader with international presen
Slide 6: Bally's Casino Portfolio Summary
Bally’s Casino Portfolio Summary Casino Properties Total Segment East West Pending Casino Acquisitions Casino Kansas City Hard Rock Biloxi Dover Downs Casino MontBleu Casino Resort & Spa Twin River Casino Hotel Casino Vicksburg Casino Properties Bally's Atlantic City Golden Gate Casino Tropicana Las
Slide 7: Recent and Pending M&A Announcements
Recent and Pending M&A Announcements Acquisitions at attractive multiples have helped diversification, with recent acquisitions funded through sale leasebacks, equity or minimal cash outlays Land-based casinos iGaming, sports betting, and media New Construction, Pennsylvania November November Date A
Slide 8: Combining National Leaders in U.S. Gaming and Media
Combining National Leaders in U.S. Gaming and Media Bally Sports Network Launched March 31, 2021 INTEGRATED REACH GAMIFIED MAGNIFIED ALIGNED ~14mm(1) Bally’s Sinclair has A truly Robust local media National integration database with ~70% meaningful minority omni-channel coverage with opportunities a
Slide 9: Bally's National Footprint and Market Access
Bally’s National Footprint and Market Access ~$5Bn Total 2020 U.S. Sports Betting Market Access and iGaming market(1) New Construction ~$20 – $50Bn+ Estimated U.S. Sports Betting Atlantic City and iGaming market at maturity(2) Footprint in states that have generated 90% of U.S. Sports Betting revenu
Slide 10: Bally's Casino Growth Timeline
Bally’s Casino Growth Timeline Organic growth initiatives and strategic M&A 2014 2015 2016 2017 2018 2019 2020 2021 Future Newport Grand Relocation of Dover Downs Eldorado Tropicana Construct casino Hard Rock Biloxi Lincoln Hotel Casino Newport Grand Merger Shreveport Evansville in Centre County, Ac
Slide 11: Gamesys Combination Overview
Gamesys Combination Overview 11
Slide 12: Strategic Rationale – Creating a Global, Vertically Integrated Gaming Operator
Strategic Rationale – Creating a Global, Vertically Integrated Gaming Operator 1 Accelerates growth strategy to be a premier, global omni-channel gaming company Integrates Gamesys’ market-leading iGaming tech with Bally’s U.S. gaming platform, creating a vertically 2 integrated company that is poise
Slide 13: Creating a Global, Vertically Integrated Omni-Channel Gaming Leader
Creating a Global, Vertically Integrated Omni-Channel Gaming Leader Internationally Recognized iGaming Brands Experienced CASINOS Management Team Proven Proprietary Technology Stack 13
Slide 14: The Player Funnel
The Player Funnel Widespread sports and game distribution platform with 21 live regional sports networks and global digital brands International B2B free-to-play game provider Third-largest daily fantasy sports operator in the US $ National footprint including 16 casino properties in 15 states (1) S
Slide 15: A Comprehensive Suite of Assets Enabling a Differentiated Approach to Gaming
A Comprehensive Suite of Assets Enabling a Differentiated Approach to Gaming A Unified and Vertically Integrated Gaming Experience… …Providing Extensive Capabilities Increased customer engagement, accelerated Omni-Channel through Gamesys’ operational capabilities and Customer Interactive Offering en
Slide 16: A Unified US Gaming Experience Through a Digital-First Approach
A Unified US Gaming Experience Through a Digital-First Approach ✓ Single omni-channel Rewards Program built on Gamesys’ Player Account Management (“PAM”) system ✓ Enhanced by Gamesys’ K A N S A S C I T Y proprietary algorithms, which have been refined based on 20 years of operating experience ✓ Will
Slide 17: Bally's is One of the Only Omni-Channel Gaming Companies
Bally’s is One of the Only Omni-Channel Gaming Companies that Will Own Sports Betting and iGaming Components Traditional Traditional land-based Pure-play online online peers Pure-play peers land-based peers peers Brand ✓ ✓ Market Access ✓ ~ PAM Provider ~ ✓ Risk and Trading ~ ✓ Game Studio ~ ~ Remot
Slide 18: Supplemental Financial Information
Supplemental Financial Information
Slide 19: Shares Outstanding Reconciliation
Shares Outstanding Reconciliation (1) Outstanding on July 30, 2021 44,591,127 (2) Sinclair Options and Warrants 12,830,730 (3) Monkey Knife Fight Contingent Shares and Warrants 812,161 (4) Sport Caller Contingent 239,021 Vested Stock Options 60,000 Total Shares Outstanding 58,533,039 (1) Reflects cl
Slide 20: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, (in thousands, except percentages) 2021 2020 2021 2020 Revenue $ 267,733 $ 28,924 $ 459,999 $ 138,072 Net income (loss) $ 68,942 $ (23,555) $ 58,237 $ (32,433) Interest expense, net of intere
Slide 21: Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment
Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment Three Months Ended June 30, 2021 (in thousands, except percentages) East West Other Total Revenue $ 132,449 $ 127,870 $ 7,414 $ 267,733 Net income (loss) $ 53,698 $ 25,777 $ (10,533) $ 68,942 Interest expense, net of interest income 1
Slide 22: Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment
Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment Three Months Ended June 30, 2020 (in thousands, except percentages) East West Other Total Revenue $ 10,418 $ 18,194 $ 312 $ 28,924 Net income (loss) (12,388) 917 (12,084) (23,555) Interest expense, net of interest income 16 (5) 15,099
Slide 23: Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment
Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment Six Months Ended June 30, 2021 (in thousands) East West Other Total Revenue $ 231,483 $ 218,587 $ 9,929 $ 459,999 Net income (loss) $ 64,967 $ 53,396 $ (60,126) $ 58,237 Interest expense, net of interest income 32 (13) 41,554 41,573 P
Slide 24: Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment
Reconciliation of Net Income (Loss) to Adjusted EBITDA by Segment Six Months Ended June 30, 2020 (in thousands) East West Other Total Revenue $ 87,783 $ 48,139 $ 2,150 $ 138,072 Net income (loss) $ (4,100) $ (3,671) $ (24,662) $ (32,433) Interest expense, net of interest income 21 (13) 26,475 26,483
Slide 25: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA Three months ended June 30, 2021 (in millions) Bally's Kansas Twin River City & Hard Rock Bally's Atlantic Casino Hotel Rhode Island(2) Dover Downs Shreveport Biloxi City(3) Net income (loss) $ 14.3 $ 17.5 $ 40.3 $ 12.8 $ 11.6 $ (4.9) Provision