Slide 1: 2023 Investor Presentation
Csubiys™ 2023 INVESTOR PRESENTATION
Slide 2: Forward-Looking Statements
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’s (“Bally’s”) plans, objectives, expecta
Slide 3: 20+ Years of Retail Casino and Global Online Experience
20+ Years of Retail Casino and Global online 17 Casinos & Resorts across 11 States once all operational experience announced projects are completed High Awareness of Bally’s brand that is growing National & Global Database connecting with our content partnerships across the Globe customers across ou
Slide 4: Robeson Reeves, George Papanier, Marcus Glover
ROBESON REEVES GEORGE PAPANIER MARCUS GLOVER CEO President CFO → CEO of Bally’s since March 2023 and is a member of → President of Bally’s since February 2023 and is a → CFO of Bally’s since May 2023 the Board of Directors. member of the Board of Directors. → Most recently, Mr. Glover served as Chie
Slide 5: 2Q23 Earnings Highlights
1 2Q23 EARNINGS HIGHLIGHTS ✓ Casinos & Resorts Revenues and EBITDAR increased by 11% y/y & 12% y/y respectively driven by strength at our Rhode Island and Kansas City properties ✓ International Interactive remains firm with UK revenue growth of 12% y/y in 2Q and is up over 11% in 1H23 in GBP ✓ North
Slide 6: Investment highlights
Geographic diversity and global footprint with strong brand 1 recognition Resilient and highly profitable core Casinos & Resorts and 2 International Interactive businesses generate stable cash flows Well-positioned to take advantage of iGaming opportunities 3 as additional States come online 4 Track
Slide 7: Casinos & Resorts, International Interactive, North America Interactive
CASINOS & RESORTS INTERNATIONAL INTERACTIVE (1) ✓ #3 regional casino operator in US with geographically diverse portfolio of ✓ A leading iGaming operator in the UK Market with an estimated 15% share 17 casinos across 11 states (including growth projects) & a leader in Asia iCasino ✓ Growth capex for
Slide 8: 2023 Revenues (E)
❖ Strong portfolio of 17 Casinos & Resorts (including 2 in development) and solid International Interactive business ❖ Management attentiveness to improve Casinos & Resorts operations and growth ❖ Capital allocation to invest in Casinos & Resorts expansion & operational improvement and new game deve
Slide 9: Adjusted EBITDAR margins and returns by segment
Casinos & Resorts International Interactive Adjusted EBITDAR % ~33%(1) ~33% Adjusted EBITDA % ~24% ~33% Maintenance CAPEX/SDC ~4%-6% ~3%-5% ROIC Expansion/Acquisition ~20%/15% * (1) ~500bps dilution due to Bally’s AC and the Tropicana LV in segment reporting Both C&R And International Interactive ar
Slide 10: Casinos & Resorts
CASINOS & RESORTS
Slide 11: Casino properties and key statistics
coming soon coming soon (1) Properties 17 Active Employees 10,700 # of Slot Machines/VLTs 14,700 # of Gaming Tables (total) 500 # of Hotel Rooms 5,350 States with Casino States with iGaming/OSB access * (1) Property count includes 3 Blackhawk, CO properties and excludes Arapahoe Park Racetrack in Au
Slide 12: Strong Organic & Acquisition Fueled Growth 2021-2023E
LTM Pro Forma SSS EBITDAR Growth is +18% Since 2021 Strong Organic & Acquisition Fueled Growth 2021-2023E Announced Growth Projects Should Continue the Trend Property 2021 2023E Total Property EBITDAR $394 +$460 (1) Pro-Forma results as some properties were not owned by Bally’s in 2021 2021 2022 202
Slide 13: Invest Capital Prudently; Continue Building Geographic Footprint
Property / Expected Comments Project Opening Rhode Island FY23 ~$10M incremental EBITDAR Bally's Chicago September 2023 Partial year ~$15M - $25M (Temp Facility) EBITDAR Bally’s 4Q23 Land based redevelopment – Kansas City Estimated EBITDAR lift of 5-10% ❖ Invest Capital Prudently in our Bally’s FY23
Slide 14: Chicago - Temporary & Permanent Facilities
(sally CHICAGO - TEMPORARY & PERMANANENT FACILITIES
Slide 15: Temporary facility opens Summer '23
Gaming Positions • ~791 slot machines • ~56 table games Temporary facility opens Summer ‘23 ~34,000 sq ft gaming space ~134,000 sq ft interior over 3 levels F&B Offerings: Cafe, Grab & Go, Asian Cuisine, and 2 Casino Bars Partnerships with parking garages and hotels Temporary facility develops custo
Slide 16: Chicago will be the flagship; permanent facility opens 2026
Bally’s flagship casino in third largest city in US with ~55M visitors Chicago will be the flagship ~3,600 Gaming Positions Permanent facility opens 2026 ~10 Food & Beverage Venues Hotel Tower with Rooftop Bar ~3,000 seat / ~70,000 sq ft - Entertainment Center ~20,000 sq ft of Meeting Space State of
Slide 17: Bally's State College / Tropicana Las Vegas
01 02 Bally’s State College Tropicana Las Vegas © 2023 Bally's Corporation. All rights reserved. 17
Slide 18: Tropicana Las Vegas Project Overview
PROJECT IDENTIFICATION Project Overview Potential Redevelopment as Part of Broader Transaction; Timing TBD ❖ 2022 – Bally’s acquired property from Penn Entertainment for $150M ❖ 2023 – Announced stadium deal with Oakland A’s as a part of new master site plan ❖ Legislation passed in early June 2023 t
Slide 19: International Interactive
(sally INTERNATIONAL INTERACTIVE
Slide 20: Highest EBITDA Margin of Our Peers
Bally’s International Interactive unit, has developed a player-centric approach with a singular focus on enhancing the player journey across its product lifecycle. The current Highest EBITDA Margin database stands at over 8M accounts 2010A – LTM of Our Peers CAGR:+21% (millions) 1 Our players genera
Slide 21: iGaming brands launched on 4 continents; revenue mix
Bally’s Interactive has successfully launched its iGaming brands on 4 different continents, Revenue Mix with the aim to be a market leader in each jurisdiction it enters by Geography (LTM) UK Growth Opportunities 8%-10% CAGR • White Paper implementation • First time depositors • Tuck-in acquisitions
Slide 22: UK growth and loyal player base
❖ Strong Start to 2023 with y/y revenue growth of 12% in ❖ Sustainable play is key to the consistent growth of our 2Q23 and 11% in 1H23 in GBP loyal base ❖ Key growth drivers have been; monthly ARPUs above ❖ CAGR over the last 5 Years of 8.3%. Loyal customers market average combined with enriched pr
Slide 23: North America Interactive (NAI) "iGaming First"
(sally NORTH AMERICA INTERACTIVE (NAI) “iGAMING FIRST”
Slide 24: Unified rewards, single wallet and omnichannel gaming
Mobile Registration & KYC Unified Rewards and Loyalty Single Wallet to Power Cashless Gaming Experience Slots and Table Game Bonusing Integrated Play Across Physical and Online Gaming © 2023 Bally's Corporation. All rights reserved. 24
Slide 25: Case Study: Bally's NJ iGaming
CASE STUDY 2022 – 2023 Bally’s NJ iGaming(1) (millions) Rapid Growth in iGaming: Ready to Scale $20 $18 $16 ❖ Launched Bally’s iCasino in December 2021 $14 ❖ Omnichannel rewards implemented at YE22 $12 ❖ NJ market share surpassed 4% in February 2023 $10 with a target market share of 6-8% $8 ❖ 2Q23 N
Slide 26: Pennsylvania launch and Rhode Island iGaming
RECENT LAUNCH FUTURE LAUNCH A Robust Launch for Pennsylvania in June 2023 Expected to launch in March 2024 ❖ $1.0M of GGR by day 29, this compares to day 67 in New Jersey ❖ Single platform in the market extending Bally’s reach in Rhode Island ❖ $30M handle in PA by day 29, this compares to day 68 in
Slide 27: Rollout of Bally Bet
Rollout of Bally Bet Bally Bet OSB Rollout Schedule ❖ Bally Bet will rollout combining these market-leading services with Bally’s core strengths. States 3Q23 4Q23 ❖ Rollouts expected to start in 3Q. State 1 ❖ Bally Bet expects to be live across at least seven states and four retail State 2 gaming lo
Slide 28: Financial Overview
FINANCIAL OVERVIEW
Slide 29: 2Q23 results
in $ millions 2Q23A Current Y/Y % ❖ C&R EBITDAR margins were +39.4% excluding Atlantic City and Tropicana – Casinos & Resorts $333 11% including these properties, EBITDAR margins Int'l Interactive $248 6% were 33.3% NA Interactive $25 39% ❖ Core C&R portfolio performed very well with Total Revenues
Slide 30: 2023 guidance
Casinos & Resorts +$460M EBITDAR +$1.4BN+ revenues ❖ Full year FX rates: GBPUSD 1.18-1.24 and EURUSD 1.04-1.08 International Interactive 30%+ EBITDA Margins ❖ Mid single digit wage inflation ~$50M-$60M Adjusted EBITDA loss ❖ Atlantic City contributes positive EBITDAR North America Interactive $10M i
Slide 31: Total Net Debt and Fully Diluted Shares Outstanding
Cash and Cash Equivalents ~$184 Common Shares Outstanding as of June 30, 2023 45,626,013 $620M Revolving Credit Facility, 2026(1) $15 Sinclair Warrants and Options(1) 12,830,730 Senior Secured Term Loan Facility, 2028(1) $1,916 Transaction Warrants and Contingent Shares 52,754 Total Secured Debt Out
Slide 32: Environmental, Social, Corporate Governance
ENVIRONMENTAL SOCIAL CORPORATE GOVERNANCE CARBON FOOTPRINT REDUCTION RESPONSIBLE GAMING Bally’s reduced carbon footprint by Bally’s implements responsible ESG FOCUS an average of 2,327 tons per year gaming employee trainings and Board Chairman leads the Board at the Lincoln property in Rhode respons