# EDGAR Filing Document

**Accession Number:** 0001747079
**File Stem:** 0001747079-25-000107
**Filing Date:** 2025-7
**Character Count:** 20221
**Document Hash:** c2e3eb5740a66409775662010ec2c6df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001747079-25-000107.hdr.sgml**: 20250716

**ACCESSION NUMBER**: 0001747079-25-000107

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**REFERENCES 429**: 001-38850

**FILED AS OF DATE**: 20250716

**DATE AS OF CHANGE**: 20250716

**EFFECTIVENESS DATE**: 20250716

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bally's Corp
- **CENTRAL INDEX KEY:** 0001747079
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 200904604
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288707
- **FILM NUMBER:** 251127807

**BUSINESS ADDRESS:**
- **STREET 1:** 100 WESTMINSTER STREET
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903
- **BUSINESS PHONE:** (401) 475-8474

**MAIL ADDRESS:**
- **STREET 1:** 100 WESTMINSTER STREET
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Twin River Worldwide Holdings, Inc.
- **DATE OF NAME CHANGE:** 20201105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bally's Corp
- **DATE OF NAME CHANGE:** 20201103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Twin River Worldwide Holdings, Inc.
- **DATE OF NAME CHANGE:** 20180718

**As filed with the Securities and Exchange Commission on July 16, 2025**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM S-8**

**Registration Statement Under the Securities Act of 1933**

**Bally's Corporation**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **20-0904604** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| **100 Westminster Street** | |
| **Providence, Rhode Island** | **02903** |
| (Address of Principal Executive Officer) | (Zip Code) |

---

---

| |
|:---|
| **Bally's Corporation 2021 Equity Incentive Plan** |
| (Full title of the plan) |
| **Kim M. Barker** |
| **Chief Legal Officer** |
| **100 Westminster Street** |
| **Providence, Rhode Island 02903** |
| (Name and address of agent for service) |
| **(401) 475-8474** |
| (Telephone number, including area code, of agent for service) |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☒ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |

---

------

**EXPLANATORY NOTE**

Bally's Corporation (the "*Registrant*") is filing this Registration Statement on Form S-8 (this "*Registration Statement*") with the United States Securities and Exchange Commission (the "*Commission*") to register up to 3,500,000 additional shares of the Registrant's common stock, par value $0.01 per share (the "*Common Stock*"), reserved for issuance under the Bally's Corporation 2021 Equity Incentive Plan, as amended and restated (the "*Plan*"). The Plan is an amendment and restatement, effective May 15, 2025, of the Bally's Corporation 2021 Equity Incentive Plan, for which the previously filed registration statement on Form S-8 is effective. In accordance with General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the Registration Statement on Form S-8 (File No. 333-256435), filed by the Registrant with the Commission on May 24, 2021.

**PART I.**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The document(s) containing the information specified in Part I of Form S-8 will be delivered to the holders of the Queen Restricted Stock Awards as specified by Rule 428(b)(1) of the Securities Act. Such documents and the documents incorporated by reference herein pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act of 1933, as amended (the "*Securities Act*").

**PART II.**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. &nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.**

The following documents, filed with the Securities and Exchange Commission (the "Commission"), are incorporated into this Registration Statement by reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed March 17, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the portions of the Registrant's Definitive Proxy Statement on Schedule 14A filed April 4, 2025 that are incorporated by reference into Part III of our Annual Report on Form 10-K for the year ended December 31, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed May 12, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Registrant's Current Reports on Form 8-K filed with the Commission on February 13, 2025, March 11, 2025, April 11, 2025 and April 25, 2025 (amending the Form 8-K filed on February 13, 2025); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)the description of the Registrant's common stock contained in its Form 8-A filed with the Commission on March 27, 2019, as updated by the description of our common stock contained in Exhibit 4.6 to the Form 10-K for the year ended December 31, 2023, and including any amendment or report filed for the purpose of updating such description.

All documents filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (excluding information deemed to be furnished and not filed with the Commission) subsequent to the effective date of this Registration Statement and prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold, will be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents. Any statement contained in any document incorporated or deemed to be incorporated by reference herein will be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this Registration Statement.

------

**Item 8. &nbsp;&nbsp;&nbsp;&nbsp;Exhibits.**

---

| | |
|:---|:---|
| **Exhibit Number** | **Exhibit Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;5.1 | <u>[Opinion of Jones Day](ex51jonesdayopinion_2025.htm)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;23.1 | <u>[Consent of Deloitte & Touche LLP](ex231-dtconsentonbalyx2021.htm)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;23.2 | <u>[Consent of Jones Day (included in Exhibit 5.1)](ex51jonesdayopinion_2025.htm)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;24.1 | <u>[Power of Attorney (included on signature page hereto)](#ieb40e3ed6d904912b8d5054582ff0aa2_1705)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;99.1 | <u>[Bally's Corporation Amended and Restated 2021 Equity Incentive Plan (incorporated by reference to Annex A to the Registrant's Definitive Proxy Statement on Schedule 14A (File No. 001-38850) filed on April 4, 2025)](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001747079/000174707925000071/baly-20250404.htm)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;107 | <u>[Filing Fee Table](exfilingfees.htm)</u> |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Providence, State of Rhode Island, on this 15th day of July, 2025.

---

| | | |
|:---|:---|:---|
| **BALLY'S CORPORATION** | **BALLY'S CORPORATION** | **BALLY'S CORPORATION** |
| By: | /s/ Robeson M. Reeves | /s/ Robeson M. Reeves |
|  | Name: | Robeson M. Reeves |
|  | Title: | President and Chief Executive Officer |

---

------

**POWER OF ATTORNEY**

The undersigned officers and directors of Bally's Corporation hereby constitute and appoint each of Robeson M. Reeves and Vladimira Mircheva (with full power to each of them to act alone) as his or her true and lawful attorney-in-fact or attorneys-in-fact, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments to this Registration Statement, including post-effective amendments thereto, and to file the same, with all exhibits hereto, and other documents in connection therewith, with the Securities and Exchange Commission, and does hereby grant unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or either of them or any substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **<u>Signature</u>** | **<u>Title</u>** | **<u>Date</u>** |
| /s/ Robeson M. Reeves | President, Chief Executive Officer and Director | July 16, 2025 |
| Robeson M. Reeves | (Principal Executive Officer) |  |
| /s/Vladimira Mircheva | Chief Financial Officer | July 16, 2025 |
| Vladimira Mircheva | (Principal Financial and Accounting Officer) |  |
| /s/ Soohyung Kim | Chairman | July 16, 2025 |
| Soohyung Kim |  |  |
| /s/ Terrence Downey | Director | July 16, 2025 |
| Terrence Downey |  |  |
| /s/ Tracy Harris | Director | July 16, 2025 |
| Tracy Harris |  |  |
| /s/ George T. Papanier | Director | July 16, 2025 |
| George T. Papanier |  |  |
| /s/ Jaymin B. Patel | Director | July 16, 2025 |
| Jaymin B. Patel |  |  |
| /s/ Jeffrey W. Rollins | Director | July 16, 2025 |
| Jeffrey W. Rollins |  |  |
| /s/ Wanda Y. Wilson | Director | July 16, 2025 |
| Wanda Y. Wilson |  |  |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Bally's Corp**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, par value $0.01 per share | Other | 3500000 | $10.51 | $36785000.00 | 0.0001531 | $5631.78 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $36785000.00  |  | $5631.78  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $5631.78  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> The amount registered reflected in Table 1 above represents the number of shares of common stock, par value $0.01 per share, potentially deliverable pursuant to the Amended and Restated 2021 Equity Incentive Plan being registered hereon. Pursuant to Rule 416(a) under the Securities Act of 1933, this registration statement on Form S-8 also covers an indeterminate number of additional shares of common stock that may be offered and issued under the Amended and Restated 2021 Equity Incentive Plan to prevent dilution resulting from stock splits, stock distributions or similar transactions. The proposed maximum offering price per unit and the maximum aggregate offering price in Table 1 above are estimated solely for calculating the amount of the registration fee, pursuant to Rules 457(c) and (h) under the Securities Act of 1933, on the basis of the average of the high and low sale prices of the Common Stock on the New York Stock Exchange on July 14, 2025, a date that is within five business days prior to filing.

## Exhibit 5.1

**Exhibit 5.1**

![jdaddressa.jpg](jdaddressa.jpg)

July 16, 2025

Bally's Corporation

100 Westminster Street

Providence, Rhode Island 02903

Re: <u>Registration Statement on Form S-8 Filed by Bally's Corporation</u>

Ladies and Gentlemen:

We have acted as counsel for Bally's Corporation, a Delaware corporation (the "***Company***"), in connection with the registration of 3,500,000 additional shares (the "***Shares***") of common stock, par value $0.01 per share, of the Company that may be issued or delivered and sold pursuant to the Bally's Corporation Amended and Restated 2021 Equity Incentive Plan (the "***Plan***"). In connection with the opinion expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of such opinion.

Based on the foregoing and subject to the further limitations, qualifications and assumptions set forth herein, we are of the opinion that the Shares that may be issued or delivered and sold pursuant to the Plan and the authorized forms of stock option, restricted stock unit or other applicable award agreements thereunder (the "***Award Agreements***") will be, when issued or delivered and sold in accordance with the Plan and the Award Agreements, validly issued, fully paid and nonassessable, provided that the consideration for the Shares is at least equal to the stated par value thereof.

The opinion expressed herein is limited to the General Corporation Law of the State of Delaware, as currently in effect, and we express no opinion with respect to the laws of any other jurisdiction on the opinion expressed herein. In addition, we have assumed that the resolutions authorizing the Company to issue or deliver and sell the Shares pursuant to the Plan and the Award Agreements will be in full force and effect at all times at which the Shares are issued or delivered and sold by the Company, and that the Company will take no action inconsistent with such resolutions. In rendering the opinion above, we have assumed that each award under the Plan will be approved by the Board of Directors of the Company (the "***Board***") or an authorized committee of the Board.

------

We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement on Form S-8 filed by the Company to effect the registration of the Shares under the Securities Act of 1933 (the "***Act***"). In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.

Very truly yours,

/s/ Jones Day

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 17, 2025, relating to the consolidated financial statements of Bally's Corporation and the effectiveness of Bally's Corporation's internal control over financial reporting, appearing in the Annual Report on Form 10-K of Bally's Corporation for the year ended December 31, 2024.

---

| |
|:---|
| /s/ Deloitte & Touche LLP |
| New York, New York |
| July 16, 2025 |

---

<br>