{"id":135,"date":"2024-06-13T11:12:35","date_gmt":"2024-06-13T08:12:35","guid":{"rendered":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/"},"modified":"2024-06-13T11:55:45","modified_gmt":"2024-06-13T08:55:45","slug":"ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares","status":"publish","type":"post","link":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/","title":{"rendered":"Ballys Corporation Announces Modified Dutch Auction Tender Offer to Repurchase Up to 19% of Outstanding Shares"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/krZm-Zqy0iI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Ballys Corporation is contemplating repurchasing a portion of its outstanding shares \u2013 specifically, up to 19%. They&#8217;re employing a &#8220;modified Dutch auction,&#8221; allowing investors to tender their shares at varying prices within a predetermined band. <\/p>\n<p>The rationale behind this move? Recent market volatility has led Bally&#8217;s board to conclude that their stock is currently trading below its intrinsic value. They&#8217;re prepared to pay between $19.25 and $22 per share, with the objective of repurchasing a total of $190 million worth of stock.<\/p>\n<p>This buyback proposition is valid until July 22nd, 2022, subject to potential early termination or extension. The company has also indicated that this action is part of a broader strategy to return capital to shareholders, which includes a previously disclosed $350 million capital return initiative.<\/p>\n<p>Intriguingly, Bally&#8217;s will defer the determination of the final share price until the conclusion of the offer period. They&#8217;ll select the lowest price within the $19.25 to $22 range that enables them to maximize the number of shares repurchased without exceeding the $190 million threshold. Consequently, all participants will receive an identical price, which may deviate from the stock&#8217;s trading price during the buyback period.<\/p>\n<p>To finance this buyback, Bally&#8217;s intends to utilize its cash reserves and existing funds. Should additional liquidity be required, they have the option to borrow under their current credit facilities. <\/p>\n<p>Typical General Corporation, holding a substantial 22% stake in Bally&#8217;s, is remaining tight-lipped about its intentions. They&#8217;re leaving everyone in suspense regarding whether they&#8217;ll divest their holdings if the acquisition proceeds. Bally&#8217;s executives appear to be in agreement, maintaining their flexibility.<\/p>\n<p>To prevent any unexpected developments, both Typical General and Bally&#8217;s top brass have pledged to provide advance notice six working days prior to the deal&#8217;s finalization if they opt to sell. Openness is paramount in this situation.<\/p>\n<p>Steering Bally&#8217;s through this intricate financial landscape is Goldman Sachs, serving as their primary consultant. Concurrently, First Capital Securities, Truist Securities, and Wells Fargo Securities are contributing as co-consultants. It&#8217;s an assembly of Wall Street&#8217;s finest. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ballys Corporation is contemplating repurchasing a portion of its outstanding shares \u2013 specifically, up to 19%. They&#8217;re employing a &#8220;modified Dutch auction,&#8221; allowing investors to tender their shares at varying prices within a predetermined band. The rationale behind this move? Recent market volatility has led Bally&#8217;s board to conclude that their stock is currently trading [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ballys Stock: A Golden Opportunity or a Risky Gamble?<\/title>\n<meta name=\"description\" content=\"Ballys Corporation is buying back shares in a modified Dutch auction, offering between $19.25 and $22 per share. Is this a sign that Ballys stock is undervalued, or are there other factors at play?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ballys Corporation Announces Modified Dutch Auction Tender Offer to Repurchase Up to 19% of Outstanding Shares\" \/>\n<meta property=\"og:description\" content=\"Ballys Corporation is buying back shares in a modified Dutch auction, offering between $19.25 and $22 per share. Is this a sign that Ballys stock is undervalued, or are there other factors at play?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Your Go-To Licensed Online Casino for Exciting Games &amp; News\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T08:12:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T08:55:45+00:00\" \/>\n<meta name=\"author\" content=\"William &quot;Whisper&quot; Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"William &quot;Whisper&quot; Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/\",\"url\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/ballys-corporation-announces-modified-dutch-auction-tender-offer-to-repurchase-up-to-19-of-outstanding-shares\/\",\"name\":\"Ballys Stock: A Golden Opportunity or a Risky Gamble?\",\"isPartOf\":{\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-13T08:12:35+00:00\",\"dateModified\":\"2024-06-13T08:55:45+00:00\",\"author\":{\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/#\/schema\/person\/e7e6b16c6b025f45fe4d699f5b8d2169\"},\"description\":\"Ballys Corporation is buying back shares in a modified Dutch auction, offering between $19.25 and $22 per share. 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