Bally's Shareholders Give Green Light to Standard General Takeover
Bally's shareholders have approved a takeover by Standard General, the hedge fund controlled by Chairman Soo Kim. This marks a significant development in the casino industry's ongoing consolidation.
Bally's Casino
Recent significant mergers and acquisitions in the gaming industry include:
- VICI Properties acquiring three Harrah's properties for $3.2 billion
- DraftKings merging with Diamond Eagle Acquisition and SBTech
- Twin Rivers purchasing Bally's Atlantic City for $25 million
- Sinclair Sports Networks partnering with Bally's and acquiring Bet.Works for $125 million
- Blackstone's $4.25 billion Bellagio deal with MGM Resorts International
Notable recent developments:
- French lottery operator FDJ received approval to acquire Kindred Group for $2.7 billion
- Flutter Entertainment purchased a majority stake in Brazil's NSX Group for $350 million
- Full House Resorts sold their Fallon, Nevada casino for $9.2 million
- DraftKings acquired microbet provider Simplebet
- Endeavor is seeking buyers for its sports betting business, including OpenBet
Industry trends show increasing consolidation in the gaming sector, with particular focus on:
- Sports betting technology acquisitions
- Real estate monetization
- Digital gaming operations
- Strategic regional casino purchases
Companies actively pursuing M&A opportunities include Flutter Entertainment, DraftKings, and Bally's, with emphasis on expanding digital presence and geographic reach.
The market continues to see both traditional casino operators and technology companies pursuing strategic acquisitions to strengthen their market positions and expand their operational capabilities.
Fox maintains plans to acquire a FanDuel stake at a $2.2 billion discount, while rumors circulate about various other potential deals, including Wynn-related discussions and possible Flutter acquisitions.
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