secwatch.observer — SEC 8-K summary
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Issuer:     Bally's Corp (BALY)
CIK:        0001747079
Form:       8-K
Filed at:   2023-02-13T23:59:59+00:00
Accession:  0001747079-23-000019
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/0001747079-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1747079/000174707923000019/baly-20230213.htm
  HTML page:      https://secwatch.observer/filing/0001747079-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer