Bally’s Corporation has completed the previously announced transactions with Standard General and its affiliates including The Queen Casino & Entertainment, a regional casino operator majority-owned by funds managed by Standard General.

Pursuant to the terms of the merger agreement, Bally’s and Queen combined, with Queen shareholders receiving consideration of 30.5 million shares. Thereafter, the Company paid cash consideration of $18.25 per share to holders of 22.8 million of the Company’s outstanding shares. The cash merger consideration was financed by the issuance of $500 million in senior secured notes due in 2028 provided exclusively by funds managed by Apollo, along with Bally’s available funds on hand and its available funding sources.

Bally’s stockholders owning 17.9 million outstanding shares elected to retain their Bally’s stock by means of a rollover election and continue as stockholders of Bally’s. As a result, 48.4 million shares of common stock are now outstanding upon completion of the merger transactions. Warrants representing the right to purchase up to 11.6 million shares of Bally’s common stock also remain outstanding.

Shares of Bally’s common stock trading under the “BALY.T” ticker which remain outstanding as a result of the rollover election will continue trading on the New York Stock Exchange and revert back to the “BALY” ticker.

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland.

Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.

The newly introduced Parlay Zone, available on the app’s homepage, allows users to select and customize daily pre-built parlays from a variety of popular sporting events. Additionally, users can access the Picks tab on the homepage to gain valuable insights from industry-leading influencers through video clips. Picks, powered by Wager Games, also offers an extensive selection of pre-built and customizable parlays, ensuring a personalized and engaging betting experience.

As an official sports betting partner of the Nashville Predators, Bally Bet has actively engaged with the team’s fan base running social promotions like the “Goals for Gear” official Predators jersey giveaway on the @BallyBet Instagram channel, Bally Bet has fostered a strong connection with the Predators’ loyal supporters. With the app’s launch, fans can anticipate even more exciting in-arena and social activations throughout the NHL season.

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Bally’s Corporation and Palms Casino Resort in Las Vegas announced a strategic partnership offering Bally Rewards members the ability to earn travel rewards at Palms in Las Vegas.

This collaboration aims to enhance the gaming experience for qualified Bally Rewards members to cash in on trips to Palms in Las Vegas. By leveraging their combined expertise and resources, Bally’s Corporation and Palms are committed to delivering an incredible new way to gain rewards and offer unforgettable experiences for Bally Rewards members.

“We are thrilled to join forces with Palms in Las Vegas for this exciting venture. Our goal is to provide our Bally Rewards members with unparalleled rewards and experiences, and this partnership is a significant step towards achieving that,” said Mike Donovan, Chief Marketing Officer and SVP of Gaming.

Bally’s Corporation and Palms Casino Resort in Las Vegas are initially focusing on travel getaways for Bally Rewards members, but they plan to potentially broaden their partnership in the future. By combining the strengths of these two leading companies, they aim to eventually enhance the gaming experience for their guests through tier matching, tournament invitations, and annual trips.

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“We’re pleased to welcome Bally Rewards members to Palms Casino Resort and provide an exciting Las Vegas experience. Partnering with Bally’s Corporation allows us to explore new opportunities and introduce Palms hospitality to Bally’s members,” said Greg Shulman, VP of Casino Marketing at Palms Casino Resort.