Standard General L.P. Amends Bally's Corp Stake

TL;DR

Standard General L.P. updated its Bally's Corp filing on 3/11/24 - stake changed.

AI Summary

Standard General L.P. has amended its Schedule 13D filing for Bally's Corporation, reporting a change in its beneficial ownership as of March 11, 2024. The filing indicates a shift in the number of shares held, though specific new holdings or disposal amounts are not detailed in this excerpt. Standard General L.P. is a significant investor in Bally's Corporation.

Why It Matters

This amendment signals potential shifts in significant shareholder positions, which could influence Bally's Corporation's stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings by significant investors like Standard General L.P. can indicate changes in strategy or financial position, potentially impacting stock volatility.

Key Players & Entities

• Standard General L.P. (company) — Filing entity
• Bally's Corporation (company) — Subject company
• Joseph Mause (person) — Associated with Standard General L.P.

FAQ

Key Financial Figures

• $0.01 — RATION (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of
• $15.00 — owned by Standard General at a price of $15.00 per share. As described in the Proposa

Filing Documents

• ff3127116_13da-ballys.htm (SC 13D/A) — 69KB
• ff3127116_ex994.htm (EX-99.4) — 9KB
• image00001.jpg (GRAPHIC) — 12KB
• 0000895345-24-000092.txt ( ) — 95KB

Purpose of Transaction

Item 4. Purpose of Transaction

is hereby amended by adding the following at the end thereof

Item 4 is hereby amended by adding the following at the end thereof: On March 11, 2024, Standard General delivered a non-binding letter (the "Proposal Letter") to the board of directors of the Company proposing a transaction under which it would acquire all of the outstanding shares of Common Stock not currently owned by Standard General at a price of $15.00 per share. As described in the Proposal Letter, Standard General expects that the Board of Directors of the Company will appoint a special committee of independent directors to consider its proposal and make a recommendation to the Board of Directors. Standard General will not move forward with the transaction unless it is approved by such a special committee. In addition, the transaction will be subject to a non-waivable condition requiring the approval of holders of a majority of the shares of the Company not owned by Standard General or parties affiliated with Standard General. No assurances can be given that a transaction will be consummated. The Proposal Letter provides that no legally binding obligation with respect to a transaction will exist unless and until mutually acceptable definitive documentation has been executed and delivered with respect thereto. The summary above is qualified in its entirety by reference to the Proposal Letter, attached as Exhibit 99.4 hereto, which is incorporated by reference herein.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer (a) and (b) See Items 7-13 of the cover pages and Item 2 above. (c) The Reporting Persons did not effect any transactions in shares of the Issuer's Common Stock during the sixty day period prior to the filing of this Schedule 13D. The percentages reported herein are based on a statement in the Issuer's Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 that there were 45,622,485 shares of the Issuer's Common Stock outstanding as of October 27, 2023. (d) Not applicable. (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The information contained in Item 4 is incorporated by reference into this Item 6.

Material to Be Filed as Exhibits

Item 7. Material to Be Filed as Exhibits Exhibit 99.4 Proposal Letter, dated March 11, 2024, from Standard General to the Board of Directors of the Company. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: March 11, 2024 STANDARD GENERAL L.P. By: /s/ Joseph Mause Name: Joseph Mause Title: Chief Financial Officer SOOHYUNG KIM /s/ Soohyung Kim Soohyung Kim

View Full Filing

View this SC 13D/A filing on SEC EDGAR