Bally’s Corp. Completes Acquisition of Jumer’s Casino & Hotel

Bally’s Corporation (NYSE: BALY), the premier, full-service, vertically integrated sports betting and iGaming company in the U.S., today announced that it has completed the previously announced acquisition of Jumer’s Casino & Hotel from Delaware North Companies Gaming & Entertainment, Inc. The total purchase price was $120 million, which the Company funded using available borrowings under its revolving credit facility.

George Papanier, President and Chief Executive Officer of Bally’s Corporation, said, “As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer’s and enter the rapidly growing Illinois gaming market. The closing provides Bally’s with the potential to capitalize on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth. We are pleased to welcome Jumer’s into the Bally’s family, and look forward to leveraging our expertise to enhance the property’s operations.”

Bally’s expects this transaction to be immediately accretive to earnings based on the property’s strong fiscal year 2019 Adjusted EBITDA and performance since reopening during the COVID-19 pandemic. The acquisition also provides Bally’s the opportunity to capitalize on lucrative sports betting opportunities by further expanding its geographic footprint into the growing Illinois gaming market.

Jumer’s is located in the Quad Cities in Rock Island, Illinois and features a 40,000 square foot casino floor containing more than 870 slot machines and 25 table games, a 205-room hotel with 11 luxury suites, an events center, the Oculus Sports Bar, the Edje nightclub, and four restaurants.

Advisors

Citizens Capital Markets, Inc. served as financial advisor to Bally’s. Bass Berry Sims served as legal counsel on the transaction.

About Bally’s Corporation

Bally’s Corporation is the premier, full-service, vertically integrated sports betting and iGaming company in the U.S. with a B2B2C business model. It currently owns and manages 14 casinos across 10 states, a horse racetrack and 13 authorized OTB licenses in Colorado. It also owns Bet.Works, a first-in-class sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, and SportCaller, a leading global B2B free-to-play game provider.