Bally’s acquires both casinos in the center of Baton Rouge. What does the deal mean? – The defender

Bally’s has completed the purchase of Queen Casino & Entertainment, a deal that gives him control of both Baton Rouge’s casino in the city center.

Bally Bally bought a standard general who finances most of the Queen in a deal for all stocks that closed on Friday. Queen’s shareholders received 30.5 million shares from Bally’s shares, which were traded at $ 18.24 per share on Friday morning.

The Queen’s puts include Queen Baton Rug and Bell of Baton Rouge. Belle has relied on $ 141 million, which will move the oldest casino in the city on land and reopen a 242-bedroom hotel, which is closed after the Covid pandemic. The hotel will open in April while the extended casino will open in the fall. Belle will be rebranded with a new name.

Terry Downey, the Queen’s President and CEO, said the deal would not affect the operations in any local casino.

“Queen’s casino and entertainment and entertainment provides many exciting opportunities for our properties, clients and team members,” he said in a statement.

The deal provides 19 Bally casinos in the US, which the company already owns the Shreveport of Bally and Hard Rock Hotel and Casino in Bilxy. The company is developing a ground casino in Chicago and has the right to develop property in Las Vegas, around a proposed baseball stadium in the main league.