Regulated financial filings include so much information that it is easy to skim over something important. It might be what happened to the owner of BallyBet did in June, in the middle of a major transaction.
Whether that error violated Securities and Exchange Commission (SEC) law or potentially drove stock sales to atypically high volumes remain open questions.
The company behind the BallyBet sportsbook brand is much more than a growing US sports betting operator. Bally’s owns and operates 14 casinos in 10 states and is adding more with a $1.7 billion Chicago casino on the horizon.
Bally’s has started to free up cash through sale-leaseback transactions with Gaming & Leisure Properties. The mistake in question involved announcing the proceeds of one of those sales despite the fact the transaction was not yet public.