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Bally's

BALLY’S NAMES BOBBY LAVAN CHIEF FINANCIAL OFFICER

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Bally’s Corporation, a global gaming, hospitality and entertainment company with a portfolio of casinos and resorts and online gaming businesses, announced that Bobby Lavan has been appointed as Bally’s Chief Financial Officer. Steve CappBally’s current Chief Financial Officer, is leaving Bally’s to pursue other interests and opportunities, and will continue to support the business through the end of April.

Mr. Lavan has been Senior Vice President, Finance & Investor Relations of Bally’s since May 2021. In this role, he led the acquisition, financing and integration of Gamesys, as well as the internal and external reporting processes. Prior to joining Bally’s, Mr. Lavan was Chief Financial Officer of NYSE listed Turning Point Brands where he executed multiple international acquisitions, complex systems integration and streamlining reporting analytics. Prior to Turning Point Brands, he was Chief Financial Officer of General Wireless Operations and held various analyst and portfolio manager roles on Wall Street. Mr. Lavan has a B.S. in Engineering from the University of Pennsylvania.

Bally’s Chief Executive Officer, Lee Fenton, said “Bobby’s track record leading successful M&A and integration initiatives will be invaluable in helping us grow the business and accomplish our long-term financial goals. I am excited to work with Bobby on the Gamesys integration, streamlining our financial reporting, and executing our broader financial strategy to create further shareholder value.”

Mr. Lavan commented on his appointment, “I look forward to working with Lee and the team to continue our transformation into a global omni-channel gaming leader.”

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Mr. Lavan’s appointment as Bally’s Chief Financial Officer is subject to receipt of customary regulatory approvals.

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Bally’s Withdraws from Nittany Mall Casino Project

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Bally’s and SC Gaming announced the termination of their agreement to open and operate a Category 4 satellite casino near Penn State University at the Nittany Mall. Despite the split, the project remains on track to open in the first half of 2026.

The decision comes three years after the two companies agreed to develop a “mini casino” in what was previously a Macy’s department store at the Nittany Mall, located just five miles from Penn State’s campus. Originally, Bally’s wasn’t eligible to bid on the license when the auction was held four years ago. Ira Lubert, the sole owner of SC Gaming, was eligible due to his stake in Rivers Casino Pittsburgh, won the bid, and later partnered with Bally’s. The plan was that the gaming venue would bear Bally’s regional casino operator brand.

However, amidst Bally’s shifting corporate priorities, the agreement fell through. Lubert has made it clear to state regulators that he has the financial resources to advance the project on his own.

“As a part of the Pennsylvania Gaming Control Board’s application and approval process, I demonstrated to the Board my resources and capability to independently develop and operate this casino project without reliance on a third party, including Bally’s,” Lubert said in a statement.

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Lubert’s experience includes the development of the Valley Forge Casino Resort during the global financial crisis, and he holds a 3% stake in Rivers Casino Pittsburgh.

When Bally’s and SC Gaming decided to team up on the Pennsylvania mini casino three years ago, the project aligned with Bally’s prior ventures. Since then, however, Bally’s has rapidly shifted its focus toward larger, more expensive developments in major cities. The company’s new priorities include developing a permanent gaming venue in Chicago, which will be its most expensive project to date. Additionally, Bally’s is pursuing a license in the New York City area and still holds the operating rights for Tropicana Las Vegas.

While the future of the Tropicana site remains uncertain and there are no guarantees Bally’s will secure a downstate permit in New York, the Chicago venture alone demands significant attention. This suggests that shedding smaller projects, such as the Pennsylvania mini casino, could be a prudent move at this time.

In July, Bally’s agreed to be acquired by Standard General, the hedge fund that is the gaming company’s largest shareholder. This development wasn’t on the table three years ago when Bally’s agreed to work with SC Gaming on the Nittany Mall casino.

Prior to accepting the takeover offer from Standard General, some shareholders criticized Bally’s for becoming financially strained and focusing too heavily on expensive projects in Chicago, Las Vegas, and New York. Some investors argued that abandoning some or all of these projects could lead to cost savings.

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Although specific cost efficiencies from exiting the Pennsylvania mini casino partnership weren’t quantified, the move aligns with Bally’s new vision. With Chairman Soo Kim, the founder of Standard General, likely taking a larger day-to-day role in Bally’s operations, more cost-cutting measures may follow, but that remains to be seen. It is clear, however, that the Nittany Mall casino didn’t fit with Bally’s renewed strategic goals.

“The termination of the framework agreement aligns with Bally’s long-term strategic goals and allows the company to allocate resources towards other priorities. Bally’s remains confident in its ability to adapt and thrive in the ever-changing market,” the company said in a press release.

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EPIC Global Solutions and Bally’s Partner to Set New Standards for Responsible Gaming

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EPIC Global Solutions and Bally’s have announced a groundbreaking three-year partnership aimed at promoting responsible gaming and making a positive impact on communities. This collaboration positions both organisations as leaders in responsible gaming within the gaming industry.

The partnership between EPIC Global Solutions and Bally’s is driven by a shared commitment to creating safer and more enjoyable gaming environments. By leveraging EPIC’s innovative lived experience approach, the two companies aim to educate multiple partners in the gaming ecosystem, both in the UK and the US.

“Bally’s and EPIC Global Solutions are committed to setting new standards for responsible gaming with a three-year commitment. Together, we are creating safer and more enjoyable gaming environments through educating multiple partners in the gaming ecosystem, harnessing the power of EPIC’s lived experience approach in both the UK and US,” said Robeson Reeves, CEO of Bally’s Corporation.

The partnership will focus on promoting responsible gaming practices and raising awareness about the potential effects of gaming. By emphasising the importance of responsible gaming, EPIC Global Solutions and Bally’s aim to minimise the negative impact of gaming and ensure a more responsible approach within the industry.

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EPIC Global Solutions’ lived experience approach will play a crucial role in this partnership.

Bally’s employees in the US will benefit from bespoke training from EPIC’s lived experience perspective that will be of particular significance to teams on the casino floor or in customer service roles, empowering them to make informed decisions and helping them to better engage with customers with their wellbeing and enjoyment in mind. The two organisations will also engage to create social media and digital campaigns that help to provide clear advice on responsible gaming best practice and the potential consequences of gaming.

“We are excited to partner with Bally’s to drive positive change in the gaming industry. By leveraging EPIC’s lived experience approach, we can make a significant impact on responsible gaming practices globally,” said Paul Buck, EPIC Global Solutions founder and CEO.

The partnership between EPIC Global Solutions and Bally’s represents a significant step forward in promoting responsible gaming and community impact.

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Andy Whitworth CEO at White Hat Studios

White Hat Studios launches in Rhode Island with Bally’s

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White Hat Studios, the fast-growing slots provider to the US iGaming market, has become the first supplier in the region to go live in seven regulated iGaming states after launching with Bally’s in Rhode Island.

The landmark achievement demonstrates the provider’s substantial growth throughout the country, becoming one of the leading suppliers of casino entertainment within all major regulated states.

Rhode Island follows West Virginia, New Jersey, Michigan, Connecticut, Pennsylvania and Delaware in the line-up of states in which White Hat Studios content has gone live, following partnerships with major brands including BetMGM, FanDuel, DraftKings and Caesars. The supplier recently celebrated its 50th operator partner in the US, another impressive feat in its overall story since it was founded.

White Hat Studios has experienced outstanding success in the country with its multi-faceted portfolio of content, with the latest Eilers-Fantini Online Slots Features Report detailing how the provider has almost doubled its gross gaming revenue (GGR) shares at the start of 2024.

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Its content offering also includes player-favourite titles including The Goonies™ and Ted Cashlock™, alongside its standout USP Jackpot Royale™, with 30 games contributing to three progressive local operator jackpots which paid out a total of $9.8 million in 2023.

White Hat Studios is setting its sights on further growth and success in the US for 2024, with a strong product roadmap that is set to further cement its position as a leading supplier in the country.

Andy Whitworth, CEO at White Hat Studios, said: “Entering our seventh regulated state in the US market is another incredible milestone for us at White Hat Studios, and a showcase of our team’s sheer dedication to achieving our company-wide goals of becoming a leading supplier in the region.

“So far, our games have been embraced and enjoyed by hundreds of thousands of players in the US, with our partner operators noting impressive engagement rates. We’re confident that our entry into Rhode Island will help continue our upward trajectory.”

Craig Eaton, President, Rhode Island Operations at Bally’s, added: “White Hat Studios has become one of the most prominent providers in North America, and for good reason. Their dynamic, exciting slots – some of the most consistent top-performers in the market – are sure to thrill Bally’s customers.

“We look forward to a successful partnership, and we’re anticipating that our players will embrace their multi-faceted content offering.”

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