---
schema_version: "secwatch.filing_event.v1"
accession: "0001747079-23-000019"
form_type: "8-K"
ticker: "BALY"
cik: "0001747079"
company_name: "Bally's Corp"
filed_at: "2023-02-13T23:59:59+00:00"
generated_at: "2026-06-19T16:22:06.233627+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bally's reports prelim Q4 rev $576.7M, net loss $476.8M; CEO Fenton to step down, Reeves named CEO

## Summary
- Preliminary Q4 revenue $576.7M; net loss $476.8M includes $464M non-cash impairment charges.
- Adjusted EBITDA $145.8M, Adjusted EBITDAR $164.4M; FY 2023 guidance: revenue $2.5-2.6B, EBITDAR $660-700M.
- CEO Lee Fenton steps down March 31, 2023; Robeson Reeves (President-Interactive) named CEO effective April 1.
- George Papanier promoted to President; amended agreement through 2025, base salary $975K, target bonus 100%.
- North America Interactive results called 'unacceptable'; restructuring plan evaluating options including tech leasing.

## SEC filing metadata
- accession: 0001747079-23-000019
- form_type: 8-K
- ticker: BALY
- cik: 0001747079
- company_name: Bally's Corp
- filed_at: 2023-02-13T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/baly-20230213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747079-23-000019
- JSON: https://secwatch.observer/filing/0001747079-23-000019.json
- Plain text: https://secwatch.observer/filing/0001747079-23-000019.txt

## Key facts
- Earnings Releases
  Bally's Corp reported the fourth quarter and full year ended December 31, 2022 results: revenue $576.7 million, net income $476.8 million. Guidance reaffirmed.
  - Period: the fourth quarter and full year ended December 31, 2022
  - Revenue: $576.7 million
  - Net income: $476.8 million
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: 2022. Bally’s expects to report its full 2022 results of operations after market close on February 23, 2023. Preliminary Fourth Quarter 2022 Financial Highlights • Revenue of $576.7 million • Net loss of $476.8 million includes non-cash goodwill and asset impairment charges of $464.0 million • Adjusted EBITDA of $145.8 million • Adjusted EBITDAR of $164.4 million •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm
- Executive change
  Lee Fenton departed as Chief Executive Officer at Bally's Corp.
  - Action: stepped down
  - Role: Chief Executive Officer
  source text: Lee Fenton would step down as Chief Executive Officer and as a member of Bally’s Board of Directors (the “Board”) effective March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm
- Executive change
  George Papanier was appointed as President at Bally's Corp.
  - Action: appointed
  - Role: President
  source text: Bally’s appointed George Papanier, age 65, as Bally’s President.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm
- Executive change
  Robeson Reeves was appointed as Chief Executive Officer at Bally's Corp.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Bally’s appointed Robeson Reeves, age 39, as Bally’s Chief Executive Officer effective April 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.