The Bally’s Merger With Gamesys Will Close October. 1st - Casinovator
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Posted on: 22 September, 2021

The Bally’s Merger With Gamesys Will Close October. 1st

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The long awaited merger between the UK iGaming operator Gamesys and US casino operator Bally’s finally has an official date set October 1, 2021. This deal still has some regulatory conditions to be finished in the US, but the initial terms of this agreement were announced in March 2021.

Approved By the Gambling Commission of Great Britain

Bally’s has given observers an update about the takeover of UK based gambling online operator Gamesys to be set on October 1, 2021. The deal was already supposed to be closed by the end of Q4 and both sides had a rough timeline back in May.

The merger between these two has some of the necessary regulatory approvals that it is outlined in a scheme document, and all current licenses by Gamesys will be in effect after the close of the deal. 

US Regulatory Approvals

After getting regulatory approvals in the UK, the Bally’s – Gamesys merger has to get regulatory approvals in the US, and the court hearing is set for September 30, 2021.

If everything goes as planned the merger between Gamesys and Bally’s will definitely take place on October 1 and after that Gamesys shares will be removed from the New York Stock Exchange on October 4 and the new Bally’s shares will take place the same day.

Terms and Conditions Were Agreed In March 2021

The terms of the takeover were actually agreed back in March 2021 and even put down on paper. 

Bally’s proposed 2 billion pounds to take over Gamesys which was an offer that can’t be denied. The offer includes a preposition for stakeholders to be allowed to acquire Bally’s shares with the rate of 0.343 per Gamesys share.

After the merger was announced Gamesys shares rose more than 18% and it is known that CEO Lee Fenton is set to lead this combined company of the two. 

Bally’s Had Great Q2 2021 Results

Bally’s reported net profit of $68.9 million for this period which compared to Q2 2020 has increased by $92.5 million. This is not surprising due to the lockdowns because of the COVID-19 pandemic. 

This is why Bally’s CEO George Papanier said that he is positive and confident that the operator will continue its strong recovery process. 

source: Muhammad Gregory, I 2021, ‘Bally’s-Gamesys Merger Closes Oct. 1st’, Online-Casinos, 21 September, accessed 22 September 2021,
https://www.online-casinos.com/news/industry/ballys-gamesys-merger-closes-oct-1st.html?fbclid=IwAR2hHD4cpinFnZhu65bqkt73zgG4w7XPnU-B7crXEtgqJbM41qJ8Dx9JVlg

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