Bally’s and Gamesys shareholders approve business combination

1st July 2021 9:40 am GMT

Bally's Corporation and Gamesys Group have secured shareholder approval for their proposed business combination.

The two companies obtained the requisite votes for all shareholder approvals related to the proposed transaction at their respective shareholder meetings Wednesday, with the business combination expected to complete in the final quarter of this year, subject to customary closing conditions and regulatory approval.

“We are very pleased to have received our shareholders' support, enabling us to achieve this next milestone toward the transaction close,” said Bally's Corporation chairman Soo Kim. “By combining with Gamesys, we will meaningfully accelerate our growth strategy to become a premier, global, omni-channel gaming company, which we believe will create significant long-term shareholder value.

“We look forward to closing the transaction later this year, and working with Lee and the rest of Gamesys' seasoned management team.“

Gamesys CEO Lee Fenton commented: “This combination represents a compelling opportunity to integrate Gamesys' market-leading gaming technology with Bally's growing US gaming platform to create a vertically integrated company that is poised to capitalize on the rapidly expanding US online sports betting and iGaming market.

“Given our comprehensive suite of collective assets and our track record of successfully developing online gaming operations in highly-competitive markets, we believe we will be able to offer customers a unique and differentiated approach to gaming.”

Shares in Gamesys Group plc. (LSE:GYS) were trading marginally higher at 1,847.05 pence per share in London Thursday morning, while shares in Bally’s Corporation (NYQ:BALY) closed 1.33 per cent higher at $54.11per share in New York Wednesday.

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