Verizon to cut 15,000 jobs amid growing competition pressures - WSJ
Bally’s Corp (NYSE:BALY) announced that it has amended its contribution agreement with GLP Capital, L.P. regarding the Twin River Lincoln Casino & Hotel. According to a statement released in a Securities and Exchange Commission filing, the amendment extends the date on which GLP can require Bally’s to contribute the casino and hotel property from October 1, 2026, to October 1, 2028.
The original agreement, dated September 6, 2022, gave GLP the right to require Bally’s and its subsidiaries to transfer the Twin River Lincoln Casino & Hotel for consideration of $735 million, subject to certain conditions including regulatory approvals. The update, executed on Tuesday, modifies this timeline by two years.
The company stated that all other terms and conditions of the contribution agreement remain unchanged. The filing did not disclose additional financial details or the reasons for the extension.
This information is based on a press release statement included in Bally’s Form 8-K filed with the SEC.
In other recent news, Bally’s Corporation announced the completion of its sale of the International Interactive business to Intralot S.A. for €2.7 billion. This transaction provides Bally’s with €1.530 billion in cash and newly issued Intralot shares valued at €1.136 billion, making Bally’s the majority shareholder of Intralot with a 58% stake. Following this acquisition, Fitch Ratings upgraded Intralot S.A.’s Long-Term Issuer Default Rating to ’B+’ from ’CCC+’, while Moody’s Ratings also upgraded Intralot’s corporate family rating to B2 from Caa1, both citing the Bally’s deal as a factor. Additionally, Bally’s Corporation reported executive changes, granting 1,881,000 stock options to CEO Robeson Reeves, with vesting conditions based on continued service and performance criteria. Meanwhile, Citizens analyst Jordan Bender reiterated a Market Perform rating on Bally’s stock, noting capital expenditure plans for a Chicago casino project starting in the second half of 2025. These developments highlight significant strategic and financial shifts for both Bally’s Corporation and Intralot S.A.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.