K&F Growth Capital Issues Letter to the Board of Directors of Bally’s Corporation
Bally's Corporation (BALY)
Company Research
Source: Business Wire
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--Today K&F Growth Capital released the following letter to the Board of Directors of Bally’s Corporation:Subject: Recommendation the Special Committee Rejects Standard General’s Woefully Undervalued Proposal to Acquire Bally’s CorporationDear Directors,K&F Growth Capital, through entities it manages, is a shareholder of Bally’s Corporation (“Bally’s”, NYSE: “BALY”, or “the Company”). We hope the recommendations shared here will be seriously considered and adopted by the Special Committee of the Board of Directors as a thoughtful, thoroughly-vetted approach to strengthening Bally’s for the long term.Bally’s trades with clear intrinsic undervaluation compared to its potential and, equally, this undervaluation is for an obvious reason: the market has lost confidence in the Company’s current strategy and financial stability. The Company’s share price has declined ~45% over the past year, and its bonds currently trade at a ~28% discount to par.
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BALY
News
- Bally's Co. (NYSE: BALY) had its price target raised by analysts at Truist Financial Co. from $14.00 to $16.00. They now have a "buy" rating on the stock.MarketBeat
- Bally’s to Report First Quarter 2024 Results on May 1, 2024Business Wire
- Bally’s Atlantic City Celebrates 45th AnniversaryGlobeNewswire
- Special Committee of Bally’s Retains Financial and Legal Advisors in Connection With Standard General’s ProposalBusiness Wire
- Bally’s Forms Special Committee to Evaluate Preliminary, Non-Binding Acquisition Proposal by Standard GeneralBusiness Wire
BALY
Earnings
- 2/21/24 - Miss
BALY
Analyst Actions
- 2/22/24 - Stifel
BALY
Sec Filings
- 4/24/24 - Form EFFECT
- 4/23/24 - Form 424B3
- 4/22/24 - Form 4
- BALY's page on the SEC website