Bally's Atlantic City) QUARTERLY REPORT

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Bally's Atlantic City) QUARTERLY REPORT Bally's Park Place LLC (Bally's Atlantic City) QUARTERLY REPORT FOR THE QUARTER ENDED JUNE 30, 2018 SUBMITTED TO THE DIVISION OF GAMING ENFORCEMENT OF THE STATE OF NEW JERSEY OFFICE OF FINANCIAL INVESTIGATIONS REPORTING MANUAL Bally's Park Place LLC (Bally's Atlantic City) BALANCE SHEETS AS OF JUNE 30, 2018 AND 2017 (UNAUDITED) ($ IN THOUSANDS) Line Description Notes 2018 2017 (a) (b) (c) (d) ASSETS: Current Assets: 1 Cash and Cash Equivalents................................................. 3 $14,351 $14,931 2 Short-Term Investments...................................................... 0 0 Receivables and Patrons' Checks (Net of Allowance for 3 Doubtful Accounts - 2018, $3,288; 2017, $3,559 )........... 3,5 6,238 6,428 4 Inventories .......................................................................... 3 774 756 5 Other Current Assets........................................................... 6 3,131 2,150 6 Total Current Assets........................................................ 24,494 24,265 7 Investments, Advances, and Receivables............................... 7 9,586 10,681 8 Property and Equipment - Gross............................................ 3, 8 84,696 83,511 9 Less: Accumulated Depreciation and Amortization.......... 3, 8 (9,580) (28,010) 10 Property and Equipment - Net.........................................…… 3, 8 75,116 55,501 11 Other Assets........................................................................... 9 14,704 45,981 12 Total Assets............................................................................ $123,900 $136,428 LIABILITIES AND EQUITY: Current Liabilities: 13 Accounts Payable................................................................ $5,369 $6,429 14 Notes Payable...................................................................... 0 0 Current Portion of Long-Term Debt: 15 Due to Affiliates............................................................... 16 External............................................................................ 0 2,363 17 Income Taxes Payable and Accrued.................................... 0 0 18 Other Accrued Expenses..................................................... 10 12,043 356,093 19 Other Current Liabilities..................................................... 2,250 2,067 20 Total Current Liabilities................................................... 19,662 366,952 Long-Term Debt: 21 Due to Affiliates.................................................................. 11 0 583,500 22 External............................................................................... 11 0 1,722 23 Deferred Credits .................................................................... 0 0 24 Other Liabilities..................................................................... 12 65,574 1,838 25 Commitments and Contingencies…………………………… 14 0 0 26 Total Liabilities...................................................................... 85,236 954,012 27 Stockholders', Partners', or Proprietor's Equity..................... 38,664 (817,584) 28 Total Liabilities and Equity.................................................... $123,900 $136,428 The accompanying notes are an integral part of the financial statements. Valid comparisons cannot be made without using information contained in the notes. 12/11 DGE-205 Bally's Park Place LLC (Bally's Atlantic City) STATEMENTS OF INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2018 AND 2017 (UNAUDITED) ($ IN THOUSANDS) Line Description Notes 2018 2017 (a) (b) (c) (d) Revenue: 1 Casino..................................................................................... $60,097 $60,814 * 2 Rooms..................................................................................... 18,670 19,888 * 3 Food and Beverage................................................................. 22,717 22,999 * 4 Other....................................................................................... 4,908 5,434 * 5 Net Revenue......................................................................... 106,392 109,135 * Costs and Expenses: 6 Casino..................................................................................... 35,824 38,696 * 7 Rooms, Food and Beverage.................................................... 22,806 24,399 * 8 General, Administrative and Other........................................ 29,771 30,074 * 9 Total Costs and Expenses.................................................... 88,401 93,169 * 10 Gross Operating Profit............................................................... 17,991 15,966 * 11 Depreciation and Amortization.............................................. 3 6,690 4,647 Charges from Affiliates Other than Interest: 12 Management Fees................................................................ 0 0 13 Other......................................................................………… 4 8,774 10,984 14 Income (Loss) from Operations................................................. 2,527 335 * Other Income (Expenses): 15 Interest Expense - Affiliates................................................... 11 0 0 16 Interest Expense - External..................................................... 11 (6,143) (28) 17 CRDA Related Income (Expense) - Net................................ 14 (248) 61 18 Nonoperating Income (Expense) - Net................................... 13 160 254 19 Total Other Income (Expenses)........................................... (6,231) 287 20 Income (Loss) Before Taxes ..................................................... (3,704) 622 * 21 Provision (Credit) for Income Taxes...................................... 3 0 6 22 Net Income (Loss)..................................................................... ($3,704) $616 * * Prior year balances have change to conform with current year presentation. The accompanying notes are an integral part of the financial statements. Valid comparisons cannot be made without using information contained in the notes. 3/18 DGE-210 Bally's Park Place LLC (Bally's Atlantic City) STATEMENTS OF INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2018 AND 2017 (UNAUDITED) ($ IN THOUSANDS) Line Description Notes 2018 2017 (a) (b) (c) (d) Revenue: 1 Casino..................................................................................... $31,723 $32,208 * 2 Rooms..................................................................................... 10,729 11,404 * 3 Food and Beverage................................................................. 12,165 12,640 * 4 Other....................................................................................... 2,689 3,014 * 5 Net Revenue......................................................................... 57,306 59,266 * Costs and Expenses: 6 Casino..................................................................................... 18,346 19,418 * 7 Rooms, Food and Beverage.................................................... 12,265 12,865 * 8 General, Administrative and Other........................................ 14,916 15,511 * 9 Total Costs and Expenses.................................................... 45,527 47,794 * 10 Gross Operating Profit............................................................... 11,779 11,472 * 11 Depreciation and Amortization.............................................. 3 3,237 2,345 Charges from Affiliates Other than Interest: 12 Management Fees................................................................ 0 0 13 Other......................................................................………… 4 4,456 5,509 14 Income (Loss) from Operations................................................. 4,086 3,618 * Other Income (Expenses): 15 Interest Expense - Affiliates................................................... 11 0 0 16 Interest Expense - External..................................................... 11 (3,096) (28) 17 CRDA Related Income (Expense) - Net................................ 14 (115) 152 18 Nonoperating Income (Expense) - Net................................... 13 113 119 19 Total Other Income (Expenses)........................................... (3,098) 243 20 Income (Loss) Before Taxes ..................................................... 988 3,861 * 21 Provision (Credit) for Income Taxes...................................... 3 0 3 22 Net Income (Loss)..................................................................... $988 $3,858 * * Prior year balances have change to conform with current year presentation. The accompanying notes are an integral part of the financial statements. Valid comparisons cannot be made without using information contained in the notes. 3/18 DGE-215 Bally's Park Place LLC (Bally's Atlantic City) STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2017 AND THE SIX MONTHS ENDED JUNE 30, 2018 (UNAUDITED) ($ IN THOUSANDS) Retained Total Additional __________ Earnings Stockholders' Common Stock Preferred Stock Paid-In __________ (Accumulated Equity Line Description Notes Shares Amount Shares Amount Capital __________ Deficit) (Deficit) (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) 1 Balance, December 31, 2016........... 100 $1 0 $0 ($114,785) ($699,632) ($814,416) 2 Net Income (Loss) - 2017.............. (63,770) (63,770) 3 Contribution to Paid-in-Capital...... 0 4 Dividends....................................... 0 5 Prior Period Adjustments............... 0 6 Equitization of Intercompany (4,579) (4,579) 7 Debt & Interest 927,659 927,659 8 0 9 0 10 Balance, December 31, 2017........... 100 1 0 0 808,295 0 (763,402)
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