Bally’s announces a share repurchase program. Under the program the company will repurchase up to $190 million worth of its shares.

The shares will repurchased at a per share purchase price of not less than $19.25 nor greater than $22 per share. The purpose of the offer is to obtain liquidity without potential disruption to the share price.

The company expects to fund the repurchases with cash on hand and existing financial resources, including, if necessary, borrowings under their revolving credit facility.

If the offer is oversubscribed, the company will prorate the number of shares accepted for payment. The Tender clause to repurchase over and above of what it plans by 2%. The program is valid until July 22, 2022. As of June 20, 2022, there were 52,562,796 shares issued and outstanding.