Merger evaluation The Bally Technologies, or Bally, board of directors closely evaluated the proposed merger with Scientific Games (SGMS) and the transactions contemplated by the merger agreement. The board considered a range of factors before approving the merger agreement and recommending that Bally’s stockholders vote to approve it. Merger consideration The $83.30 per share offered to holders of Bally’s common stock […]
Pinnacle Entertainment (PNK) recently completed the acquisition of Ameristar Casinos for a total consideration of $2.8 billion. This transaction added eight properties to PNK’s portfolio.
Pinnacle Entertainment reported financial results for the third quarter ended September 30, 2014. The company had net revenues of $568.3 million, up 35.7% year-over-year.
Mario Gabelli’s GAMCO Investors began a new position in Bally Technologies Inc. (BYI) during the third quarter. The position accounted for 0.11% of the fund’s 3Q14 portfolio.
Leveraged loans are commercial loans. They’re provided by a group of lenders. The loan is usually secured. It’s structured, arranged, and administered by investment and commercial banks—the arrangers. An example of an arranger is JPMorgan (JPM). Then, the loan is syndicated to other banks or institutional investors.
Casinos’ popularity is growing. This suggests that people like to gamble occasionally. Unfortunately, they don’t always win. For most of the people, the real fun is playing the game—not necessarily winning.
