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Exhibit 99.2

BALLY'S CORPORATION
Recast Segment Revenue
(in thousands)


Three Months Ended (unaudited)
Year Ended December 31,
September 30, 2021June 30, 2021March 31, 2021December 31, 202020202019
REVENUE
Gaming
Casinos & Resorts$227,012 $204,497 $152,060 $95,467 $291,658 $367,948 
North America Interactive2,764 791 849 — — — 
Total229,776 205,288 152,909 95,467 291,658 367,948 
Racing
Casinos & Resorts2,022 2,202 2,369 1,595 6,412 13,114 
Hotel
Casinos & Resorts32,903 22,315 13,059 8,107 24,742 38,988 
Food and beverage
Casinos & Resorts29,504 23,382 15,500 8,257 32,132 69,904 
Retail, entertainment and other
Casinos & Resorts11,929 9,792 6,445 4,670 17,848 33,623 
North America Interactive8,645 4,754 1,984 — — — 
Total20,574 14,546 8,429 4,670 17,848 33,623 
Total revenue
Casinos & Resorts303,370 262,188 189,433 118,096 372,792 523,577 
North America Interactive11,409 5,545 2,833 — — — 
Total$314,779 $267,733 $192,266 $118,096 $372,792 $523,577 





BALLY'S CORPORATION
Recast Segment Operating Results
(in thousands)
Three Months Ended (unaudited)
Year Ended December 31,
September 30, 2021June 30, 2021March 31, 2021December 31, 202020202019
Income (loss) from operations
Casinos & Resorts$64,892 $109,003 $50,736 $(3,787)$12,571 $134,616 
North America Interactive(24,981)(3,706)(1,049)— — — 
Other(12,177)(24,765)(20,213)(13,850)(30,957)(19,990)
Total 27,734 80,532 29,474 (17,637)(18,386)114,626 
Net income (loss)
Casinos & Resorts48,593 79,491 38,779 15,276 28,555 95,575 
North America Interactive(19,213)(3,208)(905)— — — 
Other(44,127)(7,341)(48,579)4,947 (34,042)(40,445)
Total (14,747)68,942 (10,705)20,223 (5,487)55,130 
Depreciation and amortization
Casinos & Resorts14,110 13,453 11,608 9,772 37,786 32,367 
North America Interactive6,274 3,385 1,032 — — — 
Other8,616 8,879 146 16 56 25 
Total 29,000 25,717 12,786 9,788 37,842 32,392 
Interest expense, net of amounts capitalized
Casinos & Resorts15 15 19 25 132 3,421 
Other31,838 21,814 20,779 19,535 63,116 36,409 
Total31,853 21,829 20,798 19,560 63,248 39,830 
Gain on sale-leaseback
Casinos & Resorts— (53,425)— — — — 
Total— (53,425)— — — — 
Change in value of naming right liabilities
Other6,965 19,070 — — — — 
Gain (adjustment) on bargain purchases
Other(1,039)24,114 — — — — 
Capital expenditures
Casinos & Resorts24,698 19,659 14,871 6,136 14,480 28,091 
North America Interactive4,853 183 68 — — — 
Other1,822 616 388 581 803 146 
Total $31,373 $20,458 $15,327 $6,717 $15,283 $28,237 

As of
September 30, 2021June 30, 2021March 31, 2021December 31, 2020December 31, 2019
Goodwill
Casinos & Resorts$201,952 $201,550 $186,979 $186,979 $133,082 
North America Interactive242,956 223,321 102,750 — — 
Total 444,908 424,871 289,729 186,979 133,082 
Total assets
Casinos & Resorts2,381,811 2,308,201 1,543,340 1,490,204 949,602 
North America Interactive445,085 381,327 166,968 — — 
Other2,142,807 1,067,781 428,492 439,651 72,285 
Total $4,969,703 $3,757,309 $2,138,800 $1,929,855 $1,021,887 

BALLY'S CORPORATION
Recast Segment Performance
(in thousands)

Three Months Ended (unaudited)
Year Ended December 31,
September 30, 2021June 30, 2021March 31, 2021December 31, 202020202019
REVENUE
Gaming and racing revenue
Casinos & Resorts$229,034 $206,699 $154,429 $97,062 $298,070 $381,062 
North America Interactive2,764 791 849 — — — 
Total 231,798 207,490 155,278 97,062 298,070 381,062 
Non-gaming revenue
Casinos & Resorts74,336 55,489 35,004 21,034 74,722 142,515 
North America Interactive8,645 4,754 1,984 — — — 
Total 82,981 60,243 36,988 21,034 74,722 142,515 
Total revenue314,779 267,733 192,266 118,096 372,792 523,577 
OPERATING COSTS AND EXPENSES
Gaming and racing expenses
Casinos & Resorts76,948 63,195 46,950 31,944 95,901 103,557 
North America Interactive1,449 155 304 — — — 
Total 78,397 63,350 47,254 31,944 95,901 103,557 
Non-gaming expenses
Casinos & Resorts33,568 26,178 18,641 11,430 42,768 81,615 
North America Interactive6,066 353 514 — — — 
Total39,634 26,531 19,155 11,430 42,768 81,615 
Advertising, general and administrative
Casinos & Resorts101,594 78,846 63,615 46,745 139,537 153,953 
North America Interactive21,950 4,837 530 — — — 
Other16,956 17,528 16,354 12,604 37,406 26,447 
Total $140,500 $101,211 $80,499 $59,349 $176,943 $180,400 



BALLY'S CORPORATION
Recast Segment Performance
(in thousands)

Quarter Ended September 30, 2021
Casinos & ResortsNorth America InteractiveOtherTotal
Net income (loss)$48,593 $(19,213)$(44,127)$(14,747)
Interest expense, net of interest income5 (10)31,311 31,306 
Provision (benefit) for income taxes16,294 (5,780)(15,914)(5,400)
Depreciation and amortization14,110 6,274 8,616 29,000 
Non-operating expense— 22 16,553 16,575 
Acquisition, integration and restructuring — — 6,797 6,797 
Share-based compensation— — 5,449 5,449 
Other (1)
(4,456)12,577 876 8,997 
Allocation of corporate costs19,970 651 (20,621)— 
Adjusted EBITDA94,516 (5,479)(11,060)77,977 
Rent expense associated with triple net operating leases (2)
11,411 — — 11,411 
Adjusted EBITDAR$105,927 $(5,479)$(11,060)$89,388 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on November 4, 2021.
(2)Consists of the operating lease components contained within our triple net master lease dated June 4, 2021 with Gaming and Leisure Properties, Inc. ("GLPI") and the triple net lease assumed in connection with our acquisition of Bally's Lake Tahoe, which is primarily our individual triple net leases with GLPI for the real estate assets used in the operation of Bally's Evansville and Bally’s Dover, and the assumption of the lease for real estate and land underlying the operations of the Bally’s Lake Tahoe facility.

Quarter Ended June 30, 2021
Casinos & ResortsNorth America InteractiveOtherTotal
Net income (loss)$79,492 $(3,154)$(7,396)$68,942 
Interest expense, net of interest income8 (2)21,293 21,299 
Provision (benefit) for income taxes29,504 (513)(2,010)26,981 
Depreciation and amortization13,453 3,385 8,879 25,717 
Non-operating expense (income)— 17 (36,707)(36,690)
Acquisition, integration and restructuring — — 18,402 18,402 
Share-based compensation— — 3,901 3,901 
Gain on sale-leaseback(53,425)— — (53,425)
Other (1)
4,955 — 3,680 8,635 
Allocation of corporate costs19,906 467 (20,373)— 
Adjusted EBITDA$93,893 $200 $(10,331)$83,762 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on August 9, 2021.


BALLY'S CORPORATION
Recast Segment Performance
(in thousands)
Quarter Ended March 31, 2021
Casinos & ResortsNorth America InteractiveOtherTotal
Net income (loss)$37,373 $556 $(48,634)$(10,705)
Interest expense, net of interest income11 — 20,263 20,274 
Provision (benefit) for income taxes11,946 (92)(16,684)(4,830)
Depreciation and amortization11,608 1,032 146 12,786 
Non-operating (income) expense— (52)24,787 24,735 
Acquisition, integration and restructuring — — 12,258 12,258 
Share-based compensation— — 4,483 4,483 
Other (1)
(10,044)— 3,518 (6,526)
Allocation of corporate costs9,362 41 (9,403)— 
Adjusted EBITDA$60,256 $1,485 $(9,266)$52,475 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on May 10, 2021.

Quarter Ended December 31, 2020
Casinos & ResortsOtherTotal
Net income$15,276 $4,947 $20,223 
Interest expense, net of interest income8 19,237 19,245 
Benefit for income taxes(19,071)(31,823)(50,894)
Depreciation and amortization9,771 17 9,788 
Non-operating income— (6,211)(6,211)
Acquisition, integration and restructuring— 6,273 6,273 
Share-based compensation— 8,238 8,238 
Other (1)
15,754 (1,357)14,397 
Allocation of corporate costs5,816 (5,816)— 
Adjusted EBITDA$27,554 $(6,495)$21,059 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on March 4, 2021.


BALLY'S CORPORATION
Recast Reconciliation of Net Income (Loss)
to Adjusted EBITDA by Segment (unaudited)
(in thousands)

Year Ended December 31, 2020
Casinos & ResortsOtherTotal
Net income (loss)$28,555 $(34,042)$(5,487)
Interest expense, net of interest income34 62,602 62,636 
Benefit for income taxes(16,018)(53,306)(69,324)
Depreciation and amortization37,786 56 37,842 
Non-operating income— (6,211)(6,211)
Acquisition, integration and restructuring 20 13,237 13,257 
Share-based compensation— 17,706 17,706 
Other (1)
19,942 41 19,983 
Allocation of corporate costs20,515 (20,515)— 
Adjusted EBITDA$90,834 $(20,432)$70,402 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on March 4, 2021.


Year Ended December 31, 2019
Casinos & ResortsOtherTotal
Net income (loss)$95,575 $(40,445)$55,130 
Interest expense, net of interest income3,380 34,546 37,926 
Provision (benefit) for income taxes34,664 (14,614)20,050 
Depreciation and amortization32,367 25 32,392 
Non-operating income(39)(144)(183)
Acquisition, integration and restructuring1,617 10,551 12,168 
Share-based compensation— 3,826 3,826 
Other (1)
(439)6,280 5,841 
Allocation of corporate costs17,032 (17,032)— 
Adjusted EBITDA$184,157 $(17,007)$167,150 
_______________________________
(1)See descriptions of adjustments in the “Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin” table in Exhibit 99.1 to the Form 8-K filed with the Securities and Exchange Commission on March 4, 2021.