Bally’s Corporation has moved one step closer to a proposed business combination with Gamesys Group as it obtained the requisite votes for all shareholder approvals.
Closing of the transaction, which is subject to customary conditions including regulatory approval, is expected to take place during the fourth quarter of 2021. Following on from the terms agreed in April, the business combination will see Bally’s and Premier Entertainment acquire the entire issued, and to be issued, ordinary share capital of Gamesys.
“We are very pleased to have received our shareholders’ support, enabling us to achieve this next milestone toward the transaction close,” said Soo Kim, chairman of Bally’s Corporation’s board of directors.
“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.”
The scheme is expected to become effective in the fourth quarter of 2021, with Gamesys providing notice of any changes to key dates set out in the time to the Regulatory Information Service.
Lee Fenton, Gamesys’ chief executive officer, added: “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 capitalise 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.”
This announcement follows yesterday’s confirmation that Bally’s Corporation signed its first gaming access deal with a professional women’s sports team, sponsoring Women’s National Basketball Association franchise, Phoenix Mercury Basketball.