The value of individual shares in American land-based casino operator Bally’s Corporation reportedly rose by around 25% yesterday following news that its largest investor has floated an around $2.07 billion takeover offer.
According to a Tuesday report from the Bloomberg news service, American hedge fund Standard General is already the Rhode Island-based casino company’s largest shareholder courtesy of a 21% stake but is now looking to fully acquire the firm behind such properties as the 1,214-room Bally’s Atlantic City via a $38-per-share proposition.
Extensive enterprise:
Previously known as Twin River Worldwide Holdings Incorporated until undergoing a late-2020 name-change, Bally’s Corporation is responsible…