Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-03

Bally's Corp. (BALY)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$8,658,602
Robeson Reeves total, FY2025
45th
CEO pay percentile vs peers
CEO-to-median pay ratio
99.08%
Say-on-pay support, latest vote
Companies that benchmark against BALY
8 companies name BALY as a compensation peer

Each company listed discloses BALY in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BALY in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robeson Reeves$1,138,501$1,876,087$590,012$5,003,460$0$50,542$8,658,602
Chief Executive Officer
George Papanier975,000832,360589,9953,335,640026,2685,759,263
President
Marcus Glover516,8270273,109001,070,0231,859,959
Former Executive Vice President, Global Operations
Kim Barker550,000495,000135,2000020,4091,200,609
Executive Vice President and Chief Legal Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Robeson Reeves$8,658,602$2,290,759$4,537,197+6,367,843
George Papanier5,759,2632,129,4804,516,736+3,629,783
Marcus Glover1,859,9591,226,8431,566,408+633,116
Kim Barker1,200,6091,008,6651,552,690+191,944

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Tracy S. HarrisDirector2026-05-15D2,917$11$31,154CommonForm 4 ↗
Tracy S. HarrisDirector2026-05-15A9,36300CommonForm 4 ↗
Jaymin B. PatelDirector2026-05-19A18,72600CommonForm 4 ↗
Wanda Y. WilsonDirector2026-05-19A9,36300CommonForm 4 ↗
Jeffrey W. RollinsDirector2026-05-19A9,36300CommonForm 4 ↗
Kim BarkerEVP, Chief Legal Officer2026-06-01A37,67200Derivative, Class A CommonForm 4 ↗
Soohyung KimDirector2026-06-01A32,87700Derivative, Class A CommonForm 4 ↗
Craig L. EatonSenior VP & Secretary2026-06-01A10,95900Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
George PapanierOPTION2025-10-071,254,000$3,335,640
Robeson ReevesOPTION2025-10-071,881,0005,003,460
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
George Papanier$0$0$3,335,6400.0%
Robeson Reeves005,003,4600.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Robeson ReevesRSU35,715$590,012
Robeson ReevesRSU35,714589,995
George PapanierRSU35,714589,995
George PapanierRSU35,715589,995
Kim BarkerRSU8,184135,200
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantnot disclosed
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1942,637,320398,07217,31599.08%Passed
20252025-05-1536,270,6449,5472,19499.97%Passed
20232023-05-1730,446,9361,450,868158,08195.45%Passed
20222022-05-1738,020,0471,273,84245,75996.76%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1999.08%a
20252025-05-1599.97%b
20232023-05-1795.45%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be treated as a vote cast, so they will not affect the outcome of the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes therefore have the same effect as a vote "AGAINST" the proposal.”.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jaymin B. PatelIndependent · Compensation · Nominating/Governance (Chair)$756,667$200,029$0$0$0$956,696
Wanda Y. WilsonIndependent · Audit · Compensation · Compliance (Chair)455,00099,995000554,995
Jeffrey W. RollinsIndependent · Audit · Compensation (Chair) · Nominating/Governance · Compliance355,00099,995000454,995
Soohyung KimEmployee director · Board Chair · ESG (Chair)200,009199,99800400,007
Tracy S. HarrisIndependent · Audit (Chair) · Nominating/Governance · ESG210,00099,999000309,999
Terrence DowneyNot independent · Departed during FY33,33300033,333
George T. PapanierEmployee director · Compliance00000
Robeson M. ReevesEmployee director · ESG00000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guidelineNon-employee directors are subject to share ownership guidelines that Bally's adopted in 2019.
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$2,010,009
Equity awards (grant-date value)$700,016
All other compensation$0
Total cost of the board$2,710,025

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Bally's Corp.2025Robeson Reeves$1,138,501$590,012$5,003,460$0$8,658,602

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Robeson ReevesDEF 14A2026-04-090001747079-26-000028Section “2025 Summary Compensation Table”. As printed: 8,658,602. Filing ↗machine: r3 · c48 · span 213167–213176
2Section 01, George PapanierDEF 14A2026-04-090001747079-26-000028Section “2025 Summary Compensation Table”. As printed: 5,759,263. Filing ↗machine: r5 · c48 · span 220057–220066
3Section 01, Marcus GloverDEF 14A2026-04-090001747079-26-000028Section “2025 Summary Compensation Table”. As printed: 1,859,959. Filing ↗machine: r12 · c48 · span 235745–235754
4Section 01, Kim BarkerDEF 14A2026-04-090001747079-26-000028Section “2025 Summary Compensation Table”. As printed: 1,200,609. Filing ↗machine: r10 · c48 · span 228850–228859
5Section 03, George Papanier OPTIONDEF 14A2026-04-090001747079-26-000028Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t17 · r5 · c13 · span 218820–218829
6Section 03, Robeson Reeves OPTIONDEF 14A2026-04-090001747079-26-000028Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t17 · r3 · c13 · span 211783–211792
7Section 07, pay ratio10-K/A2026-04-200001747079-26-000034Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Jaymin B. PatelDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 956,696. Filing ↗machine: t12 · r5 · c18 · span 154845–154852
9Section 08, Wanda Y. WilsonDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 554,995. Filing ↗machine: t12 · r8 · c18 · span 160793–160800
10Section 08, Jeffrey W. RollinsDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 454,995. Filing ↗machine: t12 · r6 · c18 · span 157550–157557
11Section 08, Soohyung KimDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 400,007. Filing ↗machine: t12 · r4 · c18 · span 152142–152149
12Section 08, Tracy S. HarrisDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 309,999. Filing ↗machine: t12 · r3 · c18 · span 149442–149449
13Section 08, Terrence DowneyDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 33,333. Filing ↗machine: t12 · r2 · c2 · span 144364–144370
14Section 08, George T. PapanierDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Robeson M. ReevesDEF 14A2026-04-090001747079-26-000028Section “Director Compensation”. As printed: 0. Filing ↗
16Section 02, Tracy S. Harris 2026-05-15Form 42026-05-190001747079-26-000049Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Tracy S. Harris 2026-05-15Form 42026-05-190001747079-26-000049Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Jaymin B. Patel 2026-05-19Form 42026-05-200001747079-26-000055Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Wanda Y. Wilson 2026-05-19Form 42026-05-200001747079-26-000054Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Jeffrey W. Rollins 2026-05-19Form 42026-05-200001747079-26-000056Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Kim Barker 2026-06-01Form 42026-06-030001747079-26-000070Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Soohyung Kim 2026-06-01Form 42026-06-030000929638-26-002118Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Craig L. Eaton 2026-06-01Form 42026-06-030001747079-26-000071Insider equity transaction reported since the proxy statement. Filing ↗
24Section 06, 2026 voteForm 8-K2026-05-200001747079-26-000058Item 5.07 · say-on-pay result. As reported: 99.08% (votes for as printed: 42,637,320). Filing ↗
25Section 06, 2025 voteForm 8-K2025-05-200001747079-25-000098Item 5.07 · say-on-pay result. As reported: 99.97% (votes for as printed: 36,270,644). Filing ↗
26Section 06, 2023 voteForm 8-K2023-05-180001747079-23-000059Item 5.07 · say-on-pay result. As reported: 95.45% (votes for as printed: 30,446,936). Filing ↗
27Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
28Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
29Section 09b board cost (computed)ComputedcomputedCash 2,010,009 + equity 700,016 + all other 0 = 2,710,025, summed across the director compensation table rows.machine: formula: Σ = 2,710,025
30Bally's Corp. (subject), Section 10b CEO totalDEF 14A2026-04-090001747079-26-000028CEO total compensation as printed in Bally's Corp.'s own proxy. As printed: 8,658,602. Filing ↗machine: r3 · c48 · span 213167–213176