Bally’s Stockholders Approve Merger with Standard General Affiliate

Bally’s Corporation announced that its stockholders have approved the proposed merger with The Queen Casino & Entertainment Inc, a company predominantly owned by Standard General LP. The merger agreement will see Standard General acquire Bally’s outstanding shares at $18.25 per share. The merger, initially agreed upon in July, received stockholder approval during a special meeting on November 19th, with certain key parties such as Standard General L.P., Sinclair Broadcast Group, Inc., and Noel Hayden excluded from the voting. Shareholders opting to keep their shares retained will have them assigned a new CUSIP number and continue trading under a temporary ticker symbol until the effective merger time. The transaction is expected to close in the first half of 2025, pending regulatory approvals. Bally’s has also noted recent financial results, indicating a boost in its UK and North American online operations despite an overall revenue drop.