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    Gamesys agree to $2.7 billion Bally’s acquisition deal

    • author icon by Stelly in Industry
    • calendar icon April 5, 2021 | Last updated: September 28, 2021
    • calendar icon 5 min read
    news thumbnail image

    Bally’s Corp acquires Gamesys with eyes set on future growth and expansion within the US iGaming industry.

    The UKGC has approved the $2.75 billion merger between Bally and Gamesys, which is expected to be complete on the 1st of October. The UK regulator has determined that all operating licenses held by Gamesys members will remain valid after the takeover date.

    The online casino industry continues to grow from strength to strength expanding into more regions across the globe.

    Bally's recently agreed to buy the betting for Gamesys for a massive $2.7 Billion.

    With this deal, both boards are set to capitalise on the increasing growth in the US gaming market.

    Beneficial for all

    The new agreement will benefit both Bally's Corp and Gamesys Group Plc. According to the agreement, Bally's will acquire the entire ordinary share capital of Gamesys.

    It is the belief of both company boards that the combination is of strategic and financial rationale. And there will be long-term value for both especially concerning the foreseeing growth strategies.

    Gamesys will be benefiting from Bally's land-based and online platform that is rapidly growing in the US. It provides market access through Bally's operations in all the key states as iGaming and sports betting opportunities continue to expand in the country.

    Bally on the other hand will get to benefit from the impressive technological platform, expertise, and experience of the Gamesys management team. Together they can take full advantage of the increasing opportunities within the US.

    According to Bally's chair Soo Kim, the combination marks a transformational step in the journey to becoming a leading integrated, omnichannel gaming company.

    Soo Kim expressed their growing excitement about the opportunities the merger provides as it enhances the experience and product offering, they can offer to customers.

    Bally's has been in the news quite a lot in recent months especially in terms of mergers and acquisitions. Another deal which they recently closed was acquiring the daily fantasy sports (DFS) operator, Monkey Knife Fight. The acquisition for the sports betting platform supplier Bet  Works is still pending. Bally is already the owner of US Casino and various casinos and racetracks within the US.

    The Gamesys Group first formed when Jackpot Joy acquired the legacy Gamesys business. Gamesys is the owner of impressive sites such as Virgin Games and Monopoly Casino.

    The future for Bally and Gamesys

    Gamesys made it clear that the move is a compelling strategic and financial opportunity for both parties to improve their offering as well as the player experience.

    The move will help Bally expand their growth in the US sports betting market with the help of Gamesys' technology platforms and management skills.

    The new combined entity will have its headquarters in Rhode Island and shares will be listed on the New York Stock Exchange.

    Gamesys Chief Executive Officer, Lee Fenton, will become the Chief of the combined business.

    The deal was set in motion after sudden interest from the US for UK gambling firms. Various takeovers are taking place with William Hill expected to complete its acquisition by Caesars soon. The purchase price was set at £2.9 billion.

    Earlier this year casino giant MGM was showing interest in acquiring Ladbrokes's owner, Entain. The latter instead chose to walk away from the deal.

    For Bally's and Gamesys, the acquisition was amicable and holds great benefits that will bring growth and expansion within the US market.

    The idea is to start capitalising on expansions and growth within the US market but opening the door to further expansion in other markets across the globe. It is a partnership dedicated to growth, innovation, and opportunity.

    Both parties are excited about what the future holds now that they have more opportunities and resources at their disposal.

    | Last updated: September 28, 2021

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    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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