Bally's (BALY) 8-K Bally's Corporation Announces Third Quarter 2021 Results

Exhibit 99.2

Gamesys Revenue and Reconciliation of Net Income (Loss) and Net Income (Loss) Margin

to Adjusted EBITDA and Adjusted EBITDA Margin

(Unaudited)

	Three Months Ended
(Amounts in thousands)	September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020			September 30, 2020			June 30, 2020			March 31, 2020
Revenue	$	278,624		$	280,957		$	272,682		$	261,100		$	245,248		$	229,194		$	198,995
Net income (loss)	$	(8,731)		$	(13,571)		$	32,842		$	24,264		$	32,975		$	23,588		$	5,447
Interest expense, net of interest income	26,294			6,886			6,916			7,362			7,259			7,419			8,126
Provision (benefit) for income taxes	5,291			19,425			6,142			(5,054)			2,437			2,876			1,438
Depreciation and amortization	31,976			31,300			31,969			37,844			28,658			27,470			27,848
Non-operating (income) expense	5,004			2,105			(5,849)			(1,785)			(824)			2,694			5,169
Acquisition, integration and restructuring	23,803			27,883			3,714			96			1,059			686			2,882
Share-based compensation	1,088			853			860			2,295			925			1,210			309
Other(1)	(920)			(714)			(499)			6,386			—			—			—
Adjusted EBITDA	$	83,805		$	74,167		$	76,095		$	71,408		$	72,489		$	65,943		$	51,219
Net income (loss) margin	(3.1)		%	(4.8)		%	12.0		%	9.3		%	13.4		%	10.3		%	2.7		%
Adjusted EBITDA margin	30.1		%	26.4		%	27.9		%	27.3		%	29.6		%	28.8		%	25.7		%
Foreign exchange rate(2)	1.379			1.398			1.379			1.281			1.241			1.291			1.321
(1) Other includes the following non-recurring items for the applicable periods: (i) Financial asset impairment on certain balances held by payment service providers, (ii) intangible asset impairment for partnership agreements that expired or were terminated, and (iii) one-off tax charges.
(2) Amounts reported in the table above were translated to USD from GBP using the average exchange rate for the respective quarterly period.