Slide 1: Third Quarter 2021 Update
Third Quarter 2021 Update November 2021 B A L LY ’ S C O R P
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts, and include statements about Bally’s Corporation (“Bally’s”) plans, objectives
Slide 3: Third Quarter 2021 Review
Third Quarter 2021 Review • Record revenue of $315MM. Continued momentum in North America Interactive with revenue of $11MM (up from $6MM in 2Q21) • Retail Casinos EBITDAR of $106.5MM, EBITDAR Margin 35.3% • $11.4MM triple net rent in 3Q21 • Adjusted EBITDA of $78MM • Includes $6MM of losses at Nort
Slide 4: Bally's business model going forward
Bally’s business model going forward Three Core Segments. Significant FCF to Invest in North America Interactive, Track record of accretive M&A, High ROIC Property Capex and Share Buybacks US Retail Casinos International Interactive North America Interactive • 14 casinos in 10 states • Leading iCasi
Slide 5: North America Interactive
North America Interactive We are in the early days of the development of the North America interactive gaming market Drive awareness of the Bally brand at a local level using Work hand in glove with our Retail teams to proprietary assets and partnerships building structural leverage our footprint an
Slide 6: Bally iCasino – New Jersey Interactive Launch
Bally iCasino – New Jersey Interactive Launch The Bally iCasino will launch by the end of 2021 B A L LY ’ S C O R P 6
Slide 7: Rebranding fuels both Retail Casinos and North America Interactive
Rebranding fuels both Retail Casinos and North America Interactive B A L LY ’ S C O R P 7
Slide 8: Bally's brand awareness
Bally’s brand awareness Awareness of the Bally’s brand will continue to grow with our media and content partnerships B A L LY ’ S C O R P 8 Source: Market research, A21. Looking at the online sports betting brands below, please tell us if you have ever heard of them or not? Base: All respondents. Cu
Slide 9: Bally Bet currently undergoing transformation from Bally Bet 1.0 to 2.0
Bally Bet currently undergoing transformation from Bally Bet 1.0 to 2.0 that will be rolled out in 2022 “ALBATROSS” SEO PLATFORM NATIVE APP WEB NATIVE APP WEB PRODUCT FRONT END FRONT END SPORTS ENGINE SPORTS ENGINE PAM “EXCITE” PAM “BOOST” “VITRUVIAN” DATA PLATFORM B A L LY ’ S C O R P 9
Slide 10: Bally Bet 2.0
Bally Bet 2.0 • [] B A L LY ’ S C O R P 10
Slide 11: Tech stack powering data driven customer journeys
Tech stack powering data driven customer journeys B A L LY ’ S C O R P 11
Slide 12: Tech stack powering data driven customer journeys
Tech stack powering data driven customer journeys • Recommended Games Engine - Recommends a set of player specific games. • Churn Predictor - Predicts whether a player will churn. Recommended Games • Conversion Propensity - Predicts whether a player will deposit within the first 3 Value Churn days o
Slide 13: Bally's Corporation Overview
Bally’s Corporation Overview BALLY’S CORP 13
Slide 14: Bally's evolution into a premier, omni-channel gaming leader
Bally’s evolution into a premier, omni-channel gaming leader 2013 2014 - 2020 2021 2022 and Beyond Single Market Operator Regional Expansion of Land Based Portfolio Omni-Channel Growth Omni-Channel Gaming Leader Expanded to 16 regional casinos(1) Interactive acquisitions and media Gaming leader with
Slide 15: Completed $3 billion acquisition of Gamesys on October 1, 2021
Completed $3 billion acquisition of Gamesys on October 1, 2021 Internationally Recognized iGaming Brands Experienced Management Team Proven Proprietary Technology Stack 15
Slide 16: Creating a global, vertically integrated omni-channel gaming leader
Creating a global, vertically integrated omni-channel gaming leader Accelerates growth strategy to be a premier, global Creates one of the broadest portfolios in market of omni-channel gaming company omni-channel cross-sell opportunities with land- based gaming, online sports betting, iCasino, poker
Slide 17: Diverse gaming offering with omni-channel capabilities
Diverse gaming offering with omni-channel capabilities Retail Casino Poker Instants Daily Fantasy Free-to-Play Sports Sports Bingo B A L LY ’ S C O R P 17
Slide 18: Sinclair partnership combines national leaders in U.S. gaming and media
Sinclair partnership combines national leaders in U.S. gaming and media Bally Sports Network Launched March 31, 2021 INTEGRATED REACH GAMIFIED MAGNIFIED ALIGNED ~14mm(1) Bally’s A truly Robust local media National integration Sinclair has meaningful database with ~70% omni-channel coverage with oppo
Slide 19: Bally's national footprint and market access
Bally’s national footprint and market access ~$5Bn Total 2020 U.S. Sports Betting & iGaming Market Access market (1) New Construction ~$20 – $50Bn+ Estimated U.S. Sports Betting & iGaming market at maturity (2) Footprint in states that have generated 90% of U.S. Sports Betting revenues (3) Footprint
Slide 20: Gamesys data and decision making
Gamesys data and decision making Our players generate 250 million data points a day Drivers higher Feeding self-learning player retention algorithms Highest EBITDA margin of our peers Enables execution of Generates a unique casino millions of personalized experience for each player player interactio
Slide 21: The player funnel
The player funnel Widespread sports and game distribution platform with 21 live regional sports networks and global digital brands Free-to-play game provider and real-time fan engagement platforms Third-largest daily fantasy sports operator in the US $ National footprint including 16 casino properti
Slide 22: Diverse asset portfolio creates a dynamic unique customer journey
Diverse asset portfolio creates a dynamic unique customer journey within our ecosystem Interactive Engagement o Social connectivity o Engaging Content o Lean-In Experiences Customer Engagement with Interactivity We provide our customers o Digital first focused team unique content in our owned o Mark
Slide 23: Building a portfolio of unique content assets…
Building a portfolio of unique content assets… B A L LY ’ S C O R P 23
Slide 24: …That will provide our customers unique customer experience
…That will provide our customers unique customer experience B A L LY ’ S C O R P 24
Slide 25: Different platforms provides more points of engagement
Different platforms provides more points of engagement B A L LY ’ S C O R P 25
Slide 26: Gamesys deal brings together best-in-class Digital & Retail Casino Operators
Gamesys deal brings together best-in-class Digital & Retail Casino Operators Lee Fenton Chief Executive Officer George Papanier • Began with Gamesys in 2008 Robeson Reeves President, Retail • Deep experience of working with President, Interactive global brands and managing operations across multiple
Slide 27: Appendix
Appendix BALLY’S CORP 27
Slide 28: Reconciliation of Shares Outstanding
Reconciliation of Shares Outstanding Common Shares Outstanding as of October 31, 2021 54,363,371 Sinclair Penny Warrants 7,911,724 Sinclair Performance Warrants(1) 3,279,337 Sinclair Options(2) 1,639,669 Monkey Knife Fight penny warrants 24,611 Monkey Knife Fight contingent shares 787,557 Telescope
Slide 29: Pro Forma Debt on Gamesys Close (October 1, 2021)
Pro Forma Debt on Gamesys Close (October 1, 2021) $620MM Revolving Credit Facility, 2026(1) $0.0 $1,945MM Senior Secured Term Loan Facility, 2028(1) $1,945.0 Total Secured Debt Outstanding $1,945.0 $750MM 5.625% Senior Notes, 2029 $750.0 $750MM 5.875% Senor Notes, 2031 $750.0 Total Unsecured Debt Ou
Slide 30: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA (1) See descriptions of adjustments in the "Reconciliation of Net Income (Loss) and Net Income (Loss)Margin to Adjusted EBITDA and Adjusted EBITDA Margin" table in the Q3 2021 Earnings Release. ` 30
Slide 31: Reconciliation of Net Income (Loss) to Adjusted Retail Casino EBITDAR
Reconciliation of Net Income (Loss) to Adjusted Retail Casino EBITDAR Three Months Ended September 30, 2021 (in thousands, except percentages) East West Total Revenue $ 176,975 $ 124,603 $ 301,578 Net income (loss) $ 25,386 $ 24,001 $ 49,387 Interest expense, net of interest income 6 (1) 5 Provision
Slide 32: Other GAAP Reconciliations
Other GAAP Reconciliations Reconciliation of Net Income (Loss) to Adjusted EBITDA - Bally's Atlantic City Q3 2021 (in millions) Net loss $ (1.2) Benefit for income taxes (0.6) Depreciation and amortization 0.8 Other(1) 0.9 Allocation of corporate costs 3.1 Adjusted EBITDA $ 3.0 Reconciliation of Net
Slide 33: Gamesys Revenue and Reconciliation
Gamesys Revenue and Reconciliation Three Month Period Ended September 30, December 31, September 30, (Amounts in thousands, except percentages and foreign exchange rate) 2021 June 30, 2021 March 31, 2021 2020 2020 June 30, 2020 March 31, 2020 Revenue $ 278,624 $ 280,957 $ 272,682 $ 261,100 $ 245,248