Intralot has completed the acquisition of Bally’s digital gaming division for €2.7 billion, making Bally’s the majority owner of Intralot.
The agreement included €1.53...
Louisiana Gaming Board approves Bally’s-The Queen merger
The Louisiana Gaming Control Board has approved the merger between Bally’s Corporation and The Queen Casino & Entertainment.
This brings Bally’s Shreveport Casino & Hotel, The Queen Baton Rouge, and the Belle of Baton Rouge under one company.
The board also approved requests from the casino operators to add new institutional investors. The investors include the University of Chicago, Entrust Special Opportunities Master Fund III, L.P., and Entrust Global Partners, LLC. The University of Chicago now owns 5.84%, Entrust Special Opportunities Master Fund III holds 7.06%, and Entrust Global Partners has 12.90%.
According to Louisiana State Police gaming enforcement officer Brian Jefferson, these investors are passive, and they will not be involved in operations, management, or decision-making practices.
Bally’s shareholders had already approved the company’s $4.6 billion buyout from Standard General in November. This allowed the merger with The Queen Casino & Entertainment, which is mostly owned by Standard General.
Now, when the merger is complete, Bally’s controls 19 gaming properties across 11 states. It also offers digital gaming and sports betting. Standard General Managing Partner Soo Kim said the deal benefits Bally’s stockholders, giving them a strong cash return and a chance to invest in future growth.
Bally’s Corporation has won unanimous lender approval to amend its $620 million revolving credit facility (RCF).
The move is tied to the planned sale and leaseback of its...
