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Hedge fund proposes $1.7B buyout of R.I.-based Bally’s
Updated at 3:45 p.m., Jan. 25
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…