TakeoverPE & activists

BALYBally's Corp

Hotels & Motels · $662M market cap · 11,700 employees

0.4×

Less likely than average to be taken private

Top 39% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

2of 15 firedHow well they predict deals →
13 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    —
    Cash flow under 80% of net income
  • Dilutive SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    31% of assets
    Over 40% of assets
  • Shareholder dissentNo
    97% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $209K · 36th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    2.3 per 10K words · 59th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    34.0× EBITDA net debt
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    5 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Feb 14, 2025SC 13E3/AStandard General L.P.——
Dec 11, 2024SC 13E3/AStandard General L.P.——
Nov 8, 2024SC 13E3/AStandard General L.P.——
Oct 17, 2024SC 13E3/AStandard General L.P.——
Oct 17, 2024DEFM14ASG Parent LLC$18.2513%
Oct 1, 2024SC 13E3/AStandard General L.P.——
Aug 28, 2024PREM14AStandard General L.P.$18.2513%
Aug 28, 2024SC 13E3Standard General L.P.——
Jun 1, 2021DEFM14A—$26.2529.1095235%
May 19, 2021PREM14A—$26.1826.18%

Key numbers

Revenue
—FY2021: $1.3BFY2022: $2.3BFY2023: $2.4BFY2024: $2.5B
Operating margin
—FY2021: 7.1%FY2022: -13.0%FY2023: 4.2%FY2024: -10.5%
EBITDA
—FY2021: $238MFY2022: $8MFY2023: $454MFY2024: $121M
Net debt / EBITDA
—
$4.1B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$1.3B$2.3B$2.4B$2.5B—FY2021: $1.3BFY2022: $2.3BFY2023: $2.4BFY2024: $2.5B
Operating income$93M−$293M$104M−$258M—FY2021: $93MFY2022: −$293MFY2023: $104MFY2024: −$258M
Net income−$115M−$426M−$188M−$568M−$701M 23% FY2021: −$115MFY2022: −$426MFY2023: −$188MFY2024: −$568MFY2025: −$701M
Operating cash flow$83M$271M$189M$114M—FY2021: $83MFY2022: $271MFY2023: $189MFY2024: $114M
Capex$98M$212M$311M$200M—FY2021: $98MFY2022: $212MFY2023: $311MFY2024: $200M
Stock-based comp$20M$28M$24M$15M—FY2021: $20MFY2022: $28MFY2023: $24MFY2024: $15M
Buybacks$87M$153M$99M$0—FY2021: $87MFY2022: $153MFY2023: $99MFY2024: $0
Dividends$0$0———FY2021: $0FY2022: $0

13D filers

FiledFilerFormStakeIntent
Dec 23, 2025Standard General L.P.SCHEDULE 13D/A66.1%Active
Sep 17, 2025Standard General L.P.SCHEDULE 13D/A13.6%Active
Feb 11, 2025Standard General L.P.SCHEDULE 13D/A73.7%Active
Oct 18, 2024Standard General L.P.SC 13D/A21.8%Active
Jul 30, 2024Hayden NoelSC 13D12.2%Passive
Jul 26, 2024Standard General L.P.SC 13D/A26.2%Active
Mar 19, 2024Standard General L.P.SC 13D/A26.4%Passive
Mar 11, 2024Standard General L.P.SC 13D/A23.2%Passive
Jul 29, 2022Standard General L.P.SC 13D/A23.1%Passive
Jul 15, 2022Standard General L.P.SC 13D/A21.7%Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025——85—
FY2024——95—
FY2023——72—