Ballys Corporation Acquires Gamesys in $2.5 Billion Deal to Create Gaming Giant
Ballys Corporation has entered into an agreement to purchase the gaming software company Gamesys. The transaction, finalized in the previous month, assesses Gamesys at roughly $2.5 billion.
As per the acquisition terms, Gamesys stockholders will obtain 1,850 pence per share, a considerable markup compared to Gamesys’ latest market valuation. This signifies a 41.2% rise from Bally’s opening bid in January and emphasizes the worth Bally’s perceives in Gamesys.
The Chairman of Gamesys, Neil Goulden, conveyed assurance in the agreement, affirming it presents outstanding worth for investors. He underscored the substantial premium presented by Bally’s, which significantly outperforms Gamesys’ past stock value.
Soo Kim, Bally’s Chairman, stressed that the acquisition is a pivotal move in their plan to transform into a top-tier multi-channel gaming enterprise. He posits that Gamesys’ established technological framework, skilled workforce, and robust brand assortment will substantially bolster Bally’s expansion course.
This strategic maneuver will merge Bally’s expanding physical casino footprint with Gamesys’ proficiency in digital gaming, establishing a formidable entity within the swiftly evolving gaming sector.
The amalgamation will unite Gamesys’ “proven technological foundation” and “esteemed and seasoned leadership group” with “Bally’s’s nationwide reach.” This potent alliance is projected to place the unified entity advantageously to leverage the substantial expansion prospects within the American sports wagering and internet gaming sector.
Investors in Gamesys are slated to obtain two dividend payments. The initial disbursement, amounting to 28 pence per share, has already been declared. A subsequent dividend, equating to 15 pence per share, will be issued if the amalgamation is not finalized by September 9, 2021.
Bally’s contends that the US digital gaming industry is flourishing. The corporation perceives this agreement with a renowned American trademark as a means to exploit this surge.
Bally’s posits that “this consolidation constitutes an enticing strategic and fiscal prospect to augment customer offerings and encounters.”
