NEW YORK, July 25, 2024 /PRNewswire/ --Nationally recognized shareholder rights firm Julie & Holleman LLP is investigating the proposed $18.25 per share buyout of Bally's Corporation (NYSE: BALY) by the company's largest shareholder, private equity firm Standard General L.P.
For a free, no-risk consultation, please visit https://julieholleman.com/ballys-corporation/, or contact firm partner Scott Holleman by email at [email protected].
Bally's is a global casino -entertainment company with a growing omni-channel presence, managing 15 casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. The company's largest shareholder is Standard General, which has maintained a more than 25% stake for several years.
On July 25, 2024, Bally's announced that it had entered into an agreement to be acquired by Standard General for $18.25 per share in cash, which values the company at approximately $4.6 billion.
Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned about the inadequate deal price. The $18.25 per share deal price is less than the recent Bally's recent trading prices. Julie & Holleman is also concerned about conflicts of interest-Standard General is squeezing out public shareholders while retaining for itself the company's massive potential. Indeed, certain investors have expressed that Standard General is taking advantage of short-term market conditions to buy the company at a steap discount to its intrinsic value.
Please visit https://julieholleman.com/ballys-corporation/ or contact partner Scott Holleman by email at [email protected] or by telephone at (929) 415-1020 for more information.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit www.julieholleman.com. This notice may constitute attorney advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
SOURCE Julie & Holleman LLP
