Bally's (BALY) said Friday that it has completed its merger with Queen Casino & Entertainment, an affiliate of Standard General.
Under the transaction, Queen shareholders received a consideration of 30.5 million shares, while holders of 22.8 million outstanding Bally's common shares were paid $18.25 in cash per share held, according to the statement.
Holders of 17.9 million outstanding Bally's common shares chose to retain their stock through a rollover, pushing the total number of outstanding shares to 48.4 million following the merger transaction, said Bally's.
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