Hedge fund Standard General offers to buy casino operator Bally's for $684m, proposing to buy all outstanding shares at $15 a share.
Hedge fund Standard General offers to buy casino operator Bally's for $684m, despite a previous $2.1bn bid in Jan 2022. Standard General, which already owns 23% of Bally's, proposes to buy all outstanding shares at $15 a share, a 41% premium over Bally's closing share price. Bally's faces a $1.1bn funding gap for its Chicago casino and has formed a special committee to evaluate Standard General's offer.
March 13, 2024
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