Bally’s and Gamesys £2bn merger to terminate in Q4 2021

Posted:: May 10, 2021 14:58 Category: M&A Action , Land-Based , Casino , Americas , Posted by

Gamesys and Bally’s assert that the deal will help their businesses expand across the US market

Gamesys Group and Bally’s Corporation have provided an update on their £2bn ($2.74bn/€2.31bn) merger deal, contending that they are hoping for completion in Q4 2021.

Gamesys are expected to present the relevant documents surrounding the deal on or around 28 May. This is still subject to legal approval.

In turn, Bally’s is required to publish details of the share issue required to finalise the share alternative which will be available to Gamesys shareholders on the same date. This is pending approval from the Financial Conduct Authority.

Bally’s had first agreed to the mega merger back in March, both boards argue that the deal will boost their businesses grow across the US market.

Both companies reported positive financial results in anticipation of the takeover. Gamesys saw revenue surge 27% for Q1, while Bally’s reported revenue in excess of $185m in Q1.

Source: iGaming Business

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