Bally’s reports 0.4% decline in Q3 revenues
An American gambling, betting, and interactive entertainment company, Bally’s Corporation shared its Q3 revenues of $630 million, highlighting a slight decline of 0.4%.
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Bally’s shareholders approve $4.6B deal with Standard General
An American gambling, betting, and interactive entertainment company, Bally’s Corporation shareholders officially approved a $4.6 billion acquisition by Standard General.
Back in July, Bally’s accepted the offer, with Standard General buying out the company’s shares at $18.25 each, a solid 71% premium compared to Bally’s stock price at the time. During a special meeting held on November 19, Bally’s shareholders excitedly supported the merger plan. Those who did not support the idea and did not vote were from Standard General and a few company executives.
Once the merger is finalized in mid-2025, Bally’s will remain a publicly traded company, with shareholders who hold onto their shares temporarily seeing them traded under the ticker ‘BALY.T.’ After the deal is closed, the ticker will return to ‘BALY.’
Soo Kim, managing partner of Standard General, highlighted how this acquisition offers Bally’s shareholders a nice cash bonus while also providing the opportunity to be part of a growing, diversified portfolio.
Once combined, the new entity will manage 19 gaming facilities across 11 states, while expanding its digital gaming and sports betting offerings. Despite a slight revenue decline of 0.4% for Q3 2024, Bally’s record growth in its online sectors remains optimistic about future success in key U.S. markets.
Bally’s to exit Asia by selling Japan interactive businesses
An American gambling, betting, and interactive entertainment company, Bally’s Corporation, has officially announced its plans to leave Asia and focus on its North American...
