Bally’s Corporation (BALY) entered a definitive merger agreement on July 25, 2024, to be acquired by its largest shareholder Standard General L.P., in a deal that values the casino and gaming company at $4.6 billion, including debt.
Under this agreement, Standard General, which owns about 26% of the company, will acquire Bally’s remaining outstanding shares for $18.25 per share, representing a premium of 34.99% from the stock’s last close.