RTTNews | Apr 13, 2021 09:58AM EDT

09:57 Tuesday, April 13, 2021 (RTTNews.com) - Bally's Corp. (BALY) shares are sliding as the company announced the commencement of concurrent public offerings of $600 million of its common stock and $250 million of its tangible equity units.

Currently, shares are at $53.16, down 12.75 percent from the previous close of $60.80. For the 52-week period, the shares have traded in a range of $10.70-$75.92 on average volume of 391,949.

Bally's expects to apply the net proceeds from the offerings to fund a portion of the cash consideration payable to shareholders of Gamesys Group plc upon consummation of the previously announced combination of Bally's and Gamesys.

The company that owns and manages 12 casinos across eight states, a horse racetrack and 13 authorized OTB licenses in Colorado said the common stock offering and Unit offerings are separate public offerings.

Read the original article on RTTNews ( https://www.rttnews.com/3184580/stock-alert-bally-s-down-11-after-public-offering.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved