Bally’s Corporation to divest interactive business in Asia, some international markets
seekingalpha
02 Nov 2024
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.