Bally's files pro forma financials for Intralot/Queen deals; $3.5B goodwill, $724M pro forma net loss

Bally's Corp

Acquired 57.9% stake in Intralot for $1.79B cash + 873.7M new shares; financed with $1.82B new debt and $500M equity.
Pro forma FY2024 net loss attributable to Bally's $633.8M ($10.92/share) vs historical $567.8M loss.
Pro forma H1 2025 net loss $113.3M ($2.10/share) vs historical net income $15.3M.
Bally's used $1.11B cash from Intralot to redeem $500M 11% 2028 Notes and pay down $394.6M of Term Loan.
Pro forma balance sheet: $11.6B total assets, $3.5B goodwill, $4.6B long-term debt, $1.9B noncontrolling interest.

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