Bally’s Corporation Special Meeting Results Approved by Shareholders

Bally’s Corporation (NYSE: BALY) recently held a special meeting of stockholders on November 19, 2024, where important matters were put to a vote. The meeting, which took place through live interactive webcasting, saw significant participation from shareholders.

One of the key proposals at the meeting was the “Merger Proposal.” Shareholders considered and voted on the adoption of the Agreement and Plan of Merger, dated July 25, 2024, involving various entities, including SG Parent LLC and The Queen Casino & Entertainment Inc. The Merger Proposal received the required votes for approval from both the Majority Vote and Unaffiliated Stockholders Vote, with a majority vote in favor.

Furthermore, the “Advisory Compensation Proposal” aimed at approving the compensation for Bally’s named executive officers in connection with the merger transactions. This proposal also garnered majority approval from the stockholders present at the meeting.

Additionally, the “Adjournment Proposal” sought approval for potential adjournments of the Special Meeting if necessary to gather additional votes for the Merger Proposal. While the Adjournment Proposal secured the required majority vote, it was deemed unnecessary following the approval of the Merger Proposal.

In a significant development, as of the Election Deadline on November 19, 2024, approximately 17,492,173 shares of Common Stock, including shares held by Standard General L.P. and Noel Hayden, had submitted a “Rolling Share Election” form. These shares will remain outstanding with a new CUSIP number and continue trading on the NYSE as “BALY.T”.

Bally’s reserves the option to open new Rolling Share Election periods, subject to specific conditions outlined in the Merger Agreement. Shareholders will be duly informed of any such elections through SEC filings or appropriate disclosures.

The closing of the Company Merger is expected to take place in the first quarter of 2025, pending regulatory approvals and standard closing conditions.

Investors and stakeholders can track these developments and additional updates on the merger by referring to the SEC filings made by Bally’s Corporation.

Lastly, in compliance with regulatory requirements, Bally’s Corporation, through its Chief Legal Officer Kim M. Barker, authorized and signed the report for submission to the Securities and Exchange Commission.

The company’s financial exhibits and related filings can be accessed for further details and information.

This article represents a summary of the recent special meeting and related approvals obtained by Bally’s Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bally’s’s 8K filing here.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.