Bally's to be acquired by Standard General affiliates for $18.25/share cash; 71% premium

Bally's Corp

Per-share cash consideration of $18.25; 71% premium over 30-day VWAP prior to March 8, 2024.
Stockholders may elect to retain Bally's shares via a rollover election instead of receiving cash.
Bally's to combine with The Queen Casino & Entertainment in a multi-step merger after Queen share contribution.
Support agreements with Standard General, SBG, and Noel Hayden committing to vote for and roll over shares.
Termination fee: $11.1M payable by Bally's; $22.2M payable by parent if debt financing fails; up to $500M debt committed.

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