A court has approved a merger between Gamesys Group and Bally’s Corporation that was also ratified at the company general meeting. The £2 billion deal was tabled by both companies back in March 2021 and has now gained a 99.1% shareholder approval, allowing it to go forward.
Full finalization of the agreement is now projected to take place in the fourth quarter of the year. Bally’s explained that the acquisition would position the company favorably to vie for a top spot in the iGaming and sports betting industry in the US that is projected to reach a value of $45 billion a year.
Bally’s Chairman Soo Kim said,
“We believe that this combination will mark a transformational step in our journey to become a leading integrated, omni-channel gaming company with a B2B2C business. 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.”
Lee Fenton, the CEO of Gamesys, will assume the role of Bally’s chief executive and Bally’s outgoing boss will be moved to the position of chief executive of the land-based division.