{"id":7610,"date":"2024-07-26T06:13:21","date_gmt":"2024-07-26T06:13:21","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/26\/ballys-finalizes-merger-with-standard-general-affiliates\/"},"modified":"2024-07-26T06:13:21","modified_gmt":"2024-07-26T06:13:21","slug":"ballys-finalizes-merger-with-standard-general-affiliates","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/26\/ballys-finalizes-merger-with-standard-general-affiliates\/","title":{"rendered":"Bally\u2019s Finalizes Merger with Standard General Affiliates"},"content":{"rendered":"
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Bally\u2019s has taken a significant step forward by finalizing a merger agreement with affiliates of Standard General L.P. According to the terms of the deal, Standard General will acquire Bally\u2019s outstanding shares for $18.25 each, merging Bally\u2019s with The Queen Casino & Entertainment<\/a>.<\/p>\n

Soo Kim, Managing Partner of Standard General, emphasized the benefits of the merger, stating, \u201cThe transaction provides Bally\u2019s stockholders with a significant cash premium along with certainty of value for their investment or, if they elect to retain their shares, the opportunity to participate in the longer-term growth prospects of our expanded portfolio and significant development pipeline.\u201d<\/em><\/p>\n

The merger will leverage QC&E\u2019s complementary assets, enhancing Bally\u2019s growth profile. Kim added, \u201cWe look forward to working with the Board of Directors and the company\u2019s senior management team as they continue to execute on their business plan.\u201d<\/em><\/p>\n

To support the merger, Standard General has secured $500 million in committed financing.<\/p>\n

Board Approval and Future Plans<\/h2>\n

Bally\u2019s Board of Directors has approved the per share cash merger consideration and the transactions recommended unanimously by the company\u2019s special committee. Special Committee Chairman Jaymin Patel commented, \u201cAfter a detailed consideration by the Special Committee, with the assistance of our outside financial and legal advisors, it was determined that the Cash Consideration from Standard General delivers a meaningful and immediate value to stockholders. We look forward to working with the team at Standard General and QC&E as we move through the process to complete the merger.\u201d<\/em><\/p>\n

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