Bally’s Corporation shareholders approved a $4.6bn merger agreement with Standard General’s portfolio company, The Queen Casino & Entertainment, on Tuesday. The Rhode Island-based casino firm accepted an $18.25 per share offer in July.
The deal is on track to be completed during the first half of 2025; shares will temporarily trade on the New York Stock Exchange under the ticker “BALY.T” until then.
Bally’s hopes to streamline its operations through the merger. It’s in the middle of developing Chicago’s first-ever casino and has plans to redevelop the former Tropicana Las Vegas site, which is expected to be the new location of the MLB’s A’s stadium. The Queen Casino & Entertainment itself runs four casinos in Louisiana, Iowa, and Illinois.
Some points:
Bally’s accepted an $18.25 per share offer from Standard General in July
The merger agreement is on track to complete in the first half of next year
The Queen Casino & Entertainment controls four casinos across three states
Deal is on track to complete during the first half of 2025
