Bally's Stockholders Approve Share Issuance for Gamesys Acquisition

Ticker: BALY · Form: 8-K · Filed: 2024-05-17T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, shareholder-vote, corporate-action

Related Tickers: BALY

TL;DR

Bally's shareholders OK'd issuing stock for the Gamesys deal. Big move incoming.

AI Summary

On May 16, 2024, Bally's Corporation filed an 8-K to report on the results of its annual meeting of stockholders. The company announced that its Class A common stock shareholders approved the issuance of shares of Class A common stock in connection with the company's previously announced acquisition of Gamesys Group plc. The acquisition is expected to close in the second quarter of 2024.

Why It Matters

This shareholder approval is a critical step towards Bally's acquisition of Gamesys, potentially reshaping its market position and future revenue streams.

Risk Assessment

Risk Level: medium — The approval is a positive step, but the acquisition's success and integration still carry inherent risks.

Key Players & Entities

FAQ

What specific proposal was voted on at the annual meeting?

The shareholders voted on and approved the issuance of shares of Class A common stock in connection with the acquisition of Gamesys Group plc.

When is the acquisition of Gamesys Group plc expected to close?

The acquisition is expected to close in the second quarter of 2024.

What type of stock was approved for issuance?

Shares of Class A common stock were approved for issuance.

What is the filing date of this 8-K report?

The filing date of this 8-K report is May 17, 2024, reporting on events as of May 16, 2024.

What was Bally's former company name?

Bally's Corporation was formerly known as Twin River Worldwide Holdings, Inc. on two separate occasions, with name changes occurring on November 5, 2020, and July 18, 2018.

From the Filing

0001747079-24-000058.txt : 20240517 0001747079-24-000058.hdr.sgml : 20240517 20240517161650 ACCESSION NUMBER: 0001747079-24-000058 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240516 ITEM INFORMATION: Submission of Matters to a Vote of Security Holders FILED AS OF DATE: 20240517 DATE AS OF CHANGE: 20240517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bally's Corp CENTRAL INDEX KEY: 0001747079 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 200904604 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38850 FILM NUMBER: 24959941 BUSINESS ADDRESS: STREET 1: 100 WESTMINSTER STREET CITY: PROVIDENCE STATE: RI ZIP: 02903 BUSINESS PHONE: (401) 475-8474 MAIL ADDRESS: STREET 1: 100 WESTMINSTER STREET CITY: PROVIDENCE STATE: RI ZIP: 02903 FORMER COMPANY: FORMER CONFORMED NAME: Twin River Worldwide Holdings, Inc. DATE OF NAME CHANGE: 20201105 FORMER COMPANY: FORMER CONFORMED NAME: Bally's Corp DATE OF NAME CHANGE: 20201103 FORMER COMPANY: FORMER CONFORMED NAME: Twin River Worldwide Holdings, Inc. DATE OF NAME CHANGE: 20180718 8-K 1 baly-20240516.htm 8-K baly-20240516 0001747079 false 0001747079 2024-05-16 2024-05-16 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 8-K _______________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 16, 2024 ________________________ BALLY'S CORPORATION (Exact name of registrant as specified in its charter) Delaware 001-38850 20-0904604 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 100 Westminster Street Providence RI 02903 (Address of Principal Executive Offices and Zip Code) ________________________ ( 401 ) 475-8474 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12 (b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common stock, $0.01 par value BALY New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐ Item 5.07    Submission of Matters to a Vote of Security Holders. Bally's Corporation (the “Company”) held its 2024 Annual Meeting of Shareholders (the “Annual Meeting”) virtually on May 16, 2024. There were 40,426,353 outstanding shares of common stock entitled to vote at the Annual Meeting, of which 30,935,608 were present or represented by proxy. The C

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