Hedge fund proposes $1.7B buyout of R.I.-based Bally’s

Updated at 3:45 p.m., Jan. 25

THE LARGEST SHAREHOLDER of Bally's Corp. has offered to buy all outstanding shares of the publicly traded company that owns Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel. / PBN FILE PHOTO/PAMELA BHATIA
THE LARGEST SHAREHOLDER of Bally's Corp. has offered to buy all outstanding shares of the publicly traded company that owns Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel. / PBN FILE PHOTO/PAMELA BHATIA
PROVIDENCE – A hedge fund and largest shareholder of Bally's Corp. – the Rhode Island-based company that operates the state's only two casinos – has proposed buying all outstanding stock in the company to take full ownership. Standard General LP submitted a letter to Bally's board of directors Tuesday that said it would pay $38…

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