Bally’s Add to WPT Bid with $2.7billion Move for Gamesys

Ballys Corporation, who recently outbid its competitors with a $105million move to buy the WPT, is also just a step away from buying British online gaming company Gamesys for £2billion ($2.7billion.)

By: Andrew Burnett

Based out of Rhode island, Bally’s owns and operates twelve casino and racetrack properties across seven states in the USA and is now looking to carve out a space in the US sports betting and online markets.

The Gamesys Group is headquartered in the UK and listed on the London Stock Exchange. Shares in the London-based an online software development and gaming business have soared since the coronavirus pandemic began last March – up more than 150 per cent as online gaming received a massive boost during lockdown.

This week’s announcement saw the two operators agree in principle to a cash buyout offer that would see Gamesys shareholders receive £18.50 per share, amounting to a £2billion ($2.7billion) deal.

The deal also proposed a share alternative plan, whereby Gamesys shareholders would receive 0.343 new Bally’s shares for their Gamesys stock.

The SEC listing for the offer noted: “Gamesys would benefit from Bally’s fast-growing land-based and online platform in the United States, providing market access through Bally’s operations in key states as the nascent iGaming and sports betting opportunity develops in the US.

In addition, it states: “Bally’s would benefit from Gamesys’ proven technology platform, expertise and highly-respected and experienced management team across the online gaming field. The combined group would be well-positioned to capitalise on the full range of opportunities present both in the US and beyond.”


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