Bally's Evaluating Acquisition Proposal at $15/share

By Bobby Samwell • Tuesday, March 12 15:14 • Permanent Link

Bally's Corporation (NYSE: BALY) has recently formed a special committee of independent and disinterested directors to evaluate a preliminary, non-binding acquisition proposal by Standard General. The proposal, dated March 11, 2024, offers to acquire all outstanding shares of Bally's at $15.00 in cash per share.

Bally's Corporation, a global casino-entertainment company, currently owns and operates 16 casinos across 10 states, a horse racetrack in Colorado, and has access to online sports betting licenses in 18 states. The company also owns Bally's International Interactive, formerly Gamesys Group, a leading global online gaming operator, Bally Bet, a sports betting platform, and Bally Casino, an expanding iCasino platform. With 10,500 employees, Bally's casino operations include approximately 15,000 slot machines, 600 table games, and 5,300 hotel rooms. Upon completing the construction of a permanent casino facility in Chicago, IL, and a land-based casino near Nittany Mall in State College, PA, Bally's will own and manage 17 casinos across 11 states.

As of the last reporting period, Bally's Corporation had a total of 16 casinos, with access to online sports betting licenses in 18 states. The company also owned Bally's International Interactive, Bally Bet, and Bally Casino. With 10,500 employees, Bally's casino operations included approximately 15,000 slot machines, 600 table games, and 5,300 hotel rooms.

Today the company's shares have moved 1.5% to a price of $13.84. If you want to know more, read the company's complete 8-K report here.

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