Bally’s and Gamesys Agree Merger Terms

Bally’s Corporation, a U.S. omni-channel provider of land-based gaming and interactive entertainment, today announced that the Company and Gamesys Group plc have agreed on definitive terms by which Bally’s will combine with Gamesys, a leading, global, online gaming operator.

Commenting on the combination, Soo Kim, Chairman of Bally’s Corporation, 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.

“We are truly excited about the opportunities that this combination would offer and the enhanced and comprehensive experience and product offering that it would enable us to offer our customers.”

Bally’s and Gamesys’ boards of directors believe that the combination has a compelling strategic and financial rationale, would create long-term value for both companies and would be consistent with the companies’ respective long-term growth strategies.

Gamesys would benefit from Bally’s fast-growing land-based and online platform in the United States, providing market access through Bally’s operations in key states as the nascent iGaming and sports betting opportunity develops in the US. In turn, Bally’s would benefit from Gamesys’ proven technology platform, expertise and highly respected and experienced management team across the online gaming field.

Commenting on the combination, Neil Goulden, Chairman of Gamesys, said, “The combination would give unique optionality to Gamesys shareholders. The recommended cash offer, including the Gamesys FY20 dividend, provides a 41.2 per cent premium to the Gamesys share price at the time of the original proposal from Bally’s and is at a significant premium to the all-time high Gamesys share price prior to the announcement.

“However, should Gamesys shareholders wish to invest in a business with a strong foothold in the high-growth US gambling market combined with established markets in the UK and Japan, they can elect for part or all of their holding to be converted into Bally’s shares.”