The announcement of Bally’s Corporation (NYSE: BALY) entering a merger agreement has significantly influenced its share price on the US stock charts. As of the latest current-market check, BALY stock has risen by 24.41%, reaching $16.82.
Bally’s Merger Agreement
Bally’s Corporation (BALY) said today that it and Standard General L.P., its biggest common investor, have signed a formal merger agreement. Bally’s outstanding shares will be acquired by Standard General at a price of $18.25 per share, as per the terms of this agreement.
Stockholders who choose to retain their investment will continue as shareholders of the Combined Company. This transaction values Bally’s at approximately $4.6 billion in enterprise value, and the Combined Company will remain a publicly traded entity.
Strategic Expansion and Future Prospects
As part of the merger, Bally’s will combine with The Queen Casino & Entertainment Inc. (QC&E), a regional casino operator predominantly owned by funds managed by Standard General. At two of its four locations, QC&E is presently working on large-scale renovation projects that are anticipated to be finished by 2025 and will significantly boost organic growth.
Bally’s Casino & Resorts will become a broader business as a result of this combination, with 19 gaming, entertainment, and hospitality venues spread over 11 states in the US. A number of exciting initiatives will also improve Bally’s development pipeline as a result of the combination.
Bally’s Corporation has positioned itself strategically to maintain growth in all of its business divisions, which include its sectors for casinos and resorts, North America Interactive, and International Interactive. Additionally, the corporation is making headway in the construction of a permanent casino resort in Chicago, for which it has just unveiled a detailed financing strategy.
The integration of four additional properties through this merger will further diversify Bally’s Corporation’s geographical and market reach. With QC&E’s development projects either recently completed or well underway, Bally’s anticipates additional revenue and EBITDAR growth, along with value accretion, as these projects are finalized by 2025.
