After receiving final approval from the UK courts, the £2 billion merger deal between the casino – entertainment group, Bally’s and the online gambling operator and content developer Gamesys Group, has been completed.
The UK Gambling Commission already gave its blessing to the merger, which saw Bally’s agreeing to pay $25.77 per Gamesys share.
With the merger now complete, Gamesys shares will be delisted from the New York Stock Exchange this week.
The deal was first announced in March, 2021, finalized a month later and approved by all shareholders in June.
The chief executive of Gamsys, Lee Fentor, will become chief executive of the entire group.
Fenton said that the merger “represents a compelling opportunity to integrate Gamesys’ market-leading gaming technology with Bally’s growing U.S. gaming platform to create a vertically integrated company that is poised to capitalize on the rapidly expanding U.S. 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.”
The chair of Bally’s Soo Kim added: “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 capitalize on the significant growth opportunities in the US sports betting and online markets.”