Green Light For Gamesys & Bally’s Merger

The merger between Gamesys Group and Bally’s Corporation has been approved by both the court meeting to consider the deal and also at the companies general meeting.

A deal from Bally’s to acquire Gamesys for £2 billion was done by both companies back in March this year and now with approval from shareholders with a majority of 99.1% the deal will now be rubber stamped.

With the approval the completion will now take place in the fourth quarter of this year, Bally’s said at the time of the deal that the acquisition of Gamesys would put the company in a strong position to compete for what it believes to be a $45 billion a year industry in the igaming and sports betting business in the US once it matures.

Bally’s chairman Soo Kim said at the time: “We believe that this combination will mark a transformational step in our journey to become a leading integrated, omni-channel gaming company with a B2B2C business.”

“We think that Gamesys’ proven technology platform alongside its highly respected and experienced management team, combined with the US market access that Bally’s provides, should allow the combined group to capitalise on the significant growth opportunities in the US sports betting and online markets.”

Lee Fenton Gamesys CEO will become Bally’s chief executive with current Bally’s boss moving to become chief executive of the land based division.