Following the completion of all relevant regulatory licences and shareholder approvals, Bally’s completed its $2 billion acquisition of Gamesys Group.
Bally’s calls Gamesys’ technological platform a “strategic combination” that will allow the company to continue expanding its interactive products in North America, including real-money gaming possibilities in online sports betting and igaming.
Furthermore, the collaboration of both parties’ player databases and technology will provide the Providence, Rhode Island-based company with “one of the largest portfolios of omni-channel cross-sell opportunities, including land-based gaming, online sports betting, icasino, poker, bingo, daily fantasy sports, and free-to-play games.”
Significant growth potential
Following the completion of the transaction, Bally’s, whose M&A frenzy has been well known, plans to capitalise on the “significant” growth potential in the US betting and gaming industry.
The offer represented a 12.7 percent premium to Gamesys’ ordinary share closing price of 1,642 pence on March 23, 2021, according to prior reports.
Bally’s board of directors chairman, Soo Kim, said: “Bally’s acquisition of Gamesys transforms our company into the premier omni-channel gaming company.
“We welcome the 1,800 members of the Gamesys team to the Bally’s family, and we welcome your strong technology capabilities and your proven international business acumen. We cannot wait to see what we are able to accomplish together in the US and beyond.”
Prior Gamesys CEO Lee Fenton has been promoted to president of retail for Bally’s land-based casino company, while former incumbent George Papanier has been promoted to vice president of retail for Bally’s land-based casino business.
Robeson Reeves, the former COO of Gamesys, will take over as president of interactive. On the Bally’s board, Fenton, Reeves, and Jim Ryan, a former Gamesys non-executive director, have all been appointed.
Fenton explained: “I am honoured to have the opportunity to lead Bally’s in the next phase of our evolution. Our business is transforming from being a regional casino operator into an industry leader in retail, sports, media and igaming, which will see us bringing together a set of assets that gives us a formidable platform for growth as a digital-first leader in global gaming entertainment.
“With Gamesys now part of the Bally’s family, I look forward to delivering on the exciting opportunities ahead and continuing to create value for our shareholders, employees and customers in the years to come.”