Form 4: Bally's Corp: Standard General's Kim Soohyung Reports Significant Share Transaction Following Queen Casino Merger
SEC Form 4 Filing
Kim Soohyung, affiliated with Standard General L.P., reports a transaction involving Bally's Corp shares following the merger with The Queen Casino & Entertainment Inc.
Summary
- On February 7, 2025, Kim Soohyung, a director and affiliated with Standard General L.P., reported a transaction involving Bally's Corp common stock.
- The transaction involved the acquisition of 26,909,895 shares and the disposal of 35,759,744 shares.
- These shares were received in exchange for shares of The Queen Casino & Entertainment Inc. in connection with the closing of the merger agreement dated July 25, 2024.
- Following the transaction, Mr. Kim indirectly beneficially owns 35,759,744 shares.
- Standard General L.P., as investment manager, also reports beneficial ownership of these shares.
- Mr. Kim disclaims beneficial ownership of the shares except to the extent of his pecuniary interest.
Sentiment
Score: 6
Explanation: The document primarily reports a procedural transaction related to a previously announced merger. The sentiment is neutral as it reflects expected changes in share ownership following the merger.
Industry Context
This announcement reflects ongoing consolidation and strategic activity within the casino and entertainment industry, with Bally's Corp expanding its portfolio through the acquisition of The Queen Casino & Entertainment Inc.
Stakeholder Impact
- Shareholders of Bally's Corp and The Queen Casino & Entertainment Inc. are impacted by the merger and the subsequent share exchange.
- The transaction affects the beneficial ownership structure of Bally's Corp.
Key Dates
| Date | Description |
|---|---|
| 2024/07/25 | Date of the Agreement and Plan of Merger between Bally's Corp, SG Parent LLC, Queen, and other parties. |
| 2025/02/07 | Date of the transaction involving the acquisition and disposal of Bally's Corp shares. |
| 2025/02/11 | Date of signature for the Form 4 filing by Soohyung Kim and Standard General L.P. |
Keywords
Bally's Corp, Standard General L.P., Kim Soohyung, Queen Casino & Entertainment, Merger, Share Transaction, Beneficial Ownership, Form 4, Securities Exchange Act
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