(Bloomberg) -- Bally’s Corp. jumped after Standard General offered to buy the remaining shares of the casino and entertainment company that it doesn’t already own.

Standard General, already Bally’s largest holder, offered to buy the rest of the company for $38 a share, according to a filing Tuesday. That’s a 30% premium over the last closing price. Standard General’s current stake is 21%.

Shares of Bally’s rose 23% in premarket trading at 9:02 a.m. in New York.

©2022 Bloomberg L.P.