Commencement of Consent Solicitation Relating to Bally´s 6.750% Senior Notes due 2027

The Consent Solicitation is being made in accordance with the terms and subject to the conditions set forth in a Consent Solicitation Statement dated January 28, 2021 (the "Consent Solicitation Statement"), to holders of record as of January 27, 2021 (collectively, the "Holders"). The Consent Solicitation will expire at 5:00 p.m., New York City time, on February 3, 2021, unless extended or earlier terminated (the "Expiration Time").

The proposed amendment (the "Proposed Amendment") to the indenture governing the Notes (the "Indenture") would amend the "Incurrence of Indebtedness and Issuance of Subsidiary Preferred Stock" covenant contained in Section 4.09 of the Indenture to increase the fixed dollar prong of the credit facility basket in clause (1) of "Permitted Debt" from "$745.0 million" to "975.0 million." Except for the Proposed Amendment, all the existing terms of the Notes will remain unchanged.  The adoption of the Proposed Amendment will require the consent of Holders of at least a majority in aggregate principal amount of the Notes outstanding as of the record date (the "Requisite Consents"). As of the record date, $525 million aggregate principal amounts of Notes were outstanding.

Holders who validly deliver and do not validly revoke consents prior to the Expiration Time will receive a consent fee of $10 in cash per $1,000 principal amount of Notes, subject to the receipt of the Requisite Consents. Holders of Notes that do not consent prior to the Expiration Time will not receive the consent fee. The Company reserves the right, in its sole discretion and regardless of whether any of the conditions to the Consent Solicitation have been satisfied, subject to applicable law, at any time (i) to terminate the Consent Solicitation for any reason, (ii) waive in whole or in part any of the conditions to the Consent Solicitation, (iii) amend the terms of the Consent Solicitation for any reason or (iv) modify the form or amount of the consent fee to be paid.

The consent fee will be paid to consenting holders promptly after the Expiration Time, subject to the receipt of the Requisite Consents prior to the Expiration Time, the execution and effectiveness of the supplemental indenture effecting the Proposed Amendment and other customary conditions described in the Consent Solicitation Statement.

The Company has retained Deutsche Bank Securities Inc. to act as Solicitation Agent in connection with the Consent Solicitation. Questions about the Consent Solicitations may be directed to Deutsche Bank Securities Inc. at (855) 287-1922 (toll free) or (212) 250-7527 (collect). Requests for copies of the Consent Solicitation Statement and related documents, and assistance relating to the procedures for delivering consents, may be obtained by contacting D.F. King & Co., Inc., the Information and Tabulation Agent, at (212) 269-5550 (banks and brokers) or (866) 796-7186 (toll free).

This press release is for informational purposes only and is not an offer to purchase or sell securities, a solicitation of an offer to purchase or sell securities or a solicitation of consents, and no recommendation is made as to whether or not Holders of Notes should consent to the adoption of the Proposed Amendment. The Consent Solicitation is not being made to Holders of Notes in any jurisdiction in which the making thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.