Category: Mergers-Acquisitions
Bally’s Committee Reportedly Holding Talks with Standard General
A special committee of Bally’s (NYSE: BALY) independent directors formed to consider Standard General’s takeover offer is reportedly in discussions with the hedge fund that’s the largest shareholder in the regional casino operator. Bally’s on the Atlantic City Boardwalk. A special committee of the operator’s board is said to be in talks with Standard General…
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Apollo, CVC Among PE Firms with Reported Interest in Entain Brands
The American depositary receipts (ADRs) of Entain (OTC: GMVHF) surged 9% Monday amid reports that private equity firms could be eying runs at some of the gaming company’s brands. A Ladbrokes betting shop in the UK. Operator Entain could see bids from private equity firms if it decides to sell assets. (Image: Yahoo Finance) An…
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Chicago Mayor Johnson Supports Bally’s Amid Brewing Controversies
Chicago Mayor Brandon Johnson (D) is supporting Bally’s (NYSE: BALY) even as the regional casino operator contends with headwinds that could jeopardize its $1.1 billion integrated resort project in the third-largest US city. Chicago Mayor Brandon Johnson (D). He’s supportive of Bally’s efforts to complete a casino hotel in the city. (Image: Chicago Sun-Times) In…
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FanDuel Acquisition Could Be Needed for Nevada Entry
Despite increased competition from other states, Nevada remains one of the US meccas of sports wagering, but two of the industry’s largest operators — DraftKings (NASDAQ: DKNG) and FanDuel — still don’t offer their services in the state. The FanDuel Sportsbook logo. It could take an acquisition for the company to enter Nevada. (Image: FanDuel…
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UFC Parent Endeavor Going Private in $13B Deal with Silver Lake
Endeavor Group Holdings, Inc. (NYSE: EDR) is being taken private by venture capital firm Silver Lake in a transaction valuing the target at $27.50 a share, or an equity value of $13 billion. Endeavor CEO Ari Emanuel. The company is going private in a deal with Silver Lake. (Image: Getty) Silver Lake, which owns 71%…
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Bally’s Investor Urges Against Takeover Bid, Suggests Alternatives for Chicago Casino
K&F Growth Capital, which is one of the largest Bally’s (NYSE: BALY) shareholders, sent a letter to the company’s board of directors on Tuesday urging it to reject a recently proposed takeover bid and to mull alternatives for large-scale projects, including a Chicago casino hotel. Bally’s on the Atlantic City Boardwalk. An investor is urging…
Read MoreBally’s Hit with Another Credit Rating Downgrade
Bally’s (NYSE: BALY) accomplished a dubious trifecta as its credit rating has been lowered by a third major ratings agency. Bally’s on the Atlantic City Boardwalk. The operator saw its credit rating downgraded by a third ratings agency on Monday. (Image: Bloomberg) On Monday, Fitch Ratings downgraded the regional casino operator’s credit grade to “B”…
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Bragg Gaming Forms Committee to Explore Possible Sale
Bragg Gaming (NASDAQ: BRAG) announced on Tuesday the formation of a special committee to explore strategic alternatives, including a potential sale. Bragg Gaming stock highlighted at the Nasdaq market site. The company announced the formation of a special committee that could explore a sale. (Image: Nasdaq) Comprised of board members, the committee will be led…
Read MoreRush Street Interactive Mulls Potential Sale, May Have Contacted DraftKings
Shares of online gaming operator Rush Street Interactive (NYSE: RSI) rallied late Thursday on a report that the company is considering a sale and has reached out to multiple suitors, including DraftKings (NASDAQ: DKNG). A Rush Street Interactive advertisement. The company is rumored to be in takeover talks and DraftKings could be a potential buyer.…
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MGM Contemplates Potential Sale of Massachusetts and Ohio Locations
MGM Resorts International (NYSE: MGM) is rumored to be mulling sales of the operating rights to its regional casinos in Massachusetts and Ohio. A sign outside MGM Springfield. Operator MGM is rumored to be evaluating sales of operating rights for that venue and an Ohio casino. (Image: MassLive) Citing unidentified sources with knowledge of the…
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