Bally’s Corporation to divest interactive business in Asia, some international markets
seekingalpha
2024-11-02
Bally’s Corporation (NYSE:BALY) entered into an agreement to sell its interactive business in Asia and certain other international markets (the “Carved-Out Business”) to a company formed by members of the management of the Carved-Out Business.
Ownership of certain intellectual property has been placed in trust and will be licensed to the Buyer for a term of five years.
The financial impact of the transaction is not expected to be material to Adjusted EBITDA or free cash flow of the company.
The expected modest decline in Adjusted EBITDA and free cash flow resulting from the transaction are expected to be mitigated by cost actions to simplify Bally’s organizational structure and other cost reductions.