Standard General L.P. Amends Bally's Corp 13D Filing

TL;DR

Standard General L.P. updated its stake in Bally's Corp. - watch for more moves.

AI Summary

Standard General L.P. has amended its Schedule 13D filing regarding Bally's Corporation, as of July 26, 2024. The filing indicates a change in beneficial ownership, with Standard General L.P. continuing to hold a significant stake in the company. Specific details on the exact percentage or number of shares are not immediately clear from this excerpt, but it signifies ongoing activity by the investment firm in Bally's.

Why It Matters

This filing update from a significant shareholder like Standard General L.P. can signal shifts in strategy or confidence, potentially impacting Bally's stock price and investor sentiment.

Risk Assessment

Risk Level: medium — Amendments to 13D filings often indicate active engagement by significant investors, which can lead to 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.
• 05875B106 (other) — CUSIP Number for Bally's Corporation common stock

FAQ

Key Financial Figures

• $0.01 — RATION (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of
• $18.25 — to receive cash consideration equal to $18.25 per share of Common Stock (the "Per Sha
• $500,000,000 — other things, the availability of up to $500,000,000 of senior secured first-lien debt finan

Filing Documents

• ff3676025_13da24-ballys.htm (SC 13D/A) — 83KB
• 0000895345-24-000296.txt ( ) — 85KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration The information contained in Item 4 is incorporated by reference into this Item 3.

Purpose of Transaction

Item 4. Purpose of Transaction

is hereby amended and supplemented by adding the following at the end thereof

Item 4 is hereby amended and supplemented by adding the following at the end thereof: On July 25, 2024, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with SG Parent LLC, a Delaware limited liability company and affiliate of the Reporting Persons ("Parent"), The Queen Casino & Entertainment, Inc., an affiliate of Reporting Persons ("Queen"), Epsilon Sub I, Inc., a wholly owned subsidiary of the Issuer ("Merger Sub I"), Epsilon Sub II, Inc., a wholly owned subsidiary of the Issuer ("Merger Sub II"), and, solely for purposes of specified provisions of the Merger Agreement, SG CQ Gaming LLC, a controlling stockholder of Queen and an affiliate of the Reporting Persons ("SG Gaming"). Pursuant to the Merger Agreement, and on the terms and subject to the conditions of the Merger Agreement, at the closing of the transactions contemplated by the Merger Agreement (the "Closing"): (i) SG Gaming will contribute all shares of common stock of Queen held by SG Gaming (such shares, the "Queen Contributed Shares") to the Issuer in exchange for a total of 26,909,895 newly issued shares of Common Stock based on a 2.45368905950 share exchange ratio (such shares of Common Stock, the "Contribution Shares" and such contribution of Queen Contributed Shares and issuance of shares of Common Stock in exchange therefor, the "Queen Share Contribution"); (ii) Merger Sub I will merge with and into the Issuer (the "Issuer Merger"), with the Issuer continuing as the surviving corporation (the "Surviving Corporation"); and (iii) Merger Sub II will merge with and into Queen (the "Queen Merger," and together with the Issuer Merger, the "Mergers"), with Queen surviving the Queen Merger as a direct, wholly owned subsidiary of the Issuer and the remaining shares of common stock and common stock equivalents of Queen (approximately 1,443,624 of which are currently outstanding, excluding the Queen Contributed Shares) will be exchanged for newly issued shares of Common Sto

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 March 31, 2024, filed with the Securities and Exchange Commission on May 3, 2024, that there were 40,484,950 shares of the Issuer's Common Stock outstanding as of April 26, 2024. (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

is hereby amended and supplemented by adding the following at the end thereof

Item 7 is hereby amended and supplemented by adding the following at the end thereof: Exhibit Number Description 99.5 * Agreement and Plan of Merger, dated as of July 25, 2024, by and among SG Parent LLC, The Queen Casino & Entertainment, Inc., Bally's Corporation, Epsilon Sub I, Inc., Epsilon Sub II, Inc., and, solely for purposes of specified provisions thereof , SG CQ Gaming LLC (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by Bally's Corporation on July 25, 2024) . 99.6 * Support Agreement, dated as of July 25, 2024, by and among Bally's Corporation, Standard RI Ltd., and SG Parent LLC (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by Bally's Corporation on July 25, 2024) . 99.7 * Support Agreement, dated as of July 25, 2024, by and among Bally's Corporation, SBG Gaming, LLC, and SG Parent LLC (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by Bally's Corporation on July 25, 2024) . 99.8 * Support Agreement, dated as of July 25, 2024, by and among Bally's Corporation, Noel Hayden, and SG Parent LLC (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed by Bally's Corporation on July 25, 2024) . * Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601. The Reporting Persons will furnish supplementally a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request. 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: July 26, 2024 STANDARD GENERAL L.P. By: /s/ Joseph Mause Name: Joseph Mause Title: Chief Financial Officer SOOHYUNG KIM /s/ Soohyung Kim Soohyung Kim

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