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Sports BettingApril 6, 2021·1 min read
Bally’s Corporation Acquires Gamesys for $2.7 Billion
Bally’s Corporation, based out of Rhode Island, is acquiring Gamesys for $2.7 billion. Bally’s Corporation recently outbid competitors with a $105 million move to buy the WPT. Bally’s Corporation 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 Gamesys have soared since the coronavirus pandemic began last March – up more than 150 per cent as online gaming received a massive boost during lockdown.
The deal proposed a share alternative plan, whereby Gamesys shareholders would receive 0.343 new Bally’s shares for their Gamesys stock. 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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