Tag Archives: Lee Fenton

Bally’s acquisition of Gamesys to close on 1 October

Bally’s Corporation has confirmed that its takeover of Gamesys Group will reach completion on 1 October, putting an end to the months-long acquisition process. The US sports betting and gaming conglomerate revealed that the M&A process had received regulatory approval from the UK Gambling Commission (UKGC), but added that approval was still required from US counterparts. A court hearing sanctioning …

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Gamesys Asia and UK growth offsets European regulatory headwinds

Gamesys Group Plc has ‘continued to execute successfully’ across its KPIs, noting encouraging results in the UK and Asia, but it has encountered regulatory challenges in mainland Europe. Publishing its H1 trading report, the firm revealed that ‘good momentum’ in the UK and Asia had been the primary driving force behind a 17% increase in group evenues to £398 million …

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Gamesys merger with Bally’s moves closer to completion

The acquisition of Gamesys Group by Bally’s Corporation is now closer to completion, after the board of the US betting and gaming conglomerate obtained the required votes for all shareholder approvals. Under the terms of the initial takeover agreement signed in April, the merger will see Bally’s, in cooperation with Premier Entertainment, acquire the entire issued and to be issued ordinary …

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Bally’s makes ‘transformational step’ with finalisation of Gamesys takeover

Bally’s Corporation has this morning published the definitive terms for its proposed takeover of Gamesys Group Plc, having agreed the combination ‘in principle’ last month. Upon completion of the acquisition, the combined group will be headquartered in Providence, Rhode Island, and its shares will remain listed on the New York Stock Exchange, whilst a request will be made for Gamesys …

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Bally’s shows its hand targeting a £2bn takeover of Gamesys

Bally’s Corporation has reached an ‘agreement in principle’ to acquire Gamesys Group Plc after proposing an initial approach of +£2 billion.  The US gambling conglomerate, which seeks to aggressively expand its digital portfolio, has offered an £18.50 cash per share offer to Gamesys investors to open negotiations.  Bally’s stated that its offer equates to a near 40% premium on Gamesys’ …

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Transformed Gamesys delivers record 2020 results

Gamesys Group Plc has praised its diversified brand portfolio and operational execution in delivering a group-wide record financial performance for 2020.  A transformed Gamesys achieved group revenues of £772 million, up 75% on corresponding full-year 2019 results of £415 million – with the company noting that it has secured all operating objectives, merging its legacy Jackpotjoy unit with Gamesys B2C …

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Gamesys announces strong performance in trading report

Gamesys Group has announced an “outstanding operational performance” for 2020, despite the significant global setbacks posed throughout the year by the COVID-19 pandemic. The Group’s Board is confident that FY 2020 Revenue and Adjusted EBITDA at or above the ‘upper end of current market expectations’ will be reported, following a strong trading performance recorded in the fourth quarter of the …

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Gamesys targets strong 2020 closing after successful Spanish launch

Gamesys Group Plc has cited continued growth momentum across its brand portfolio as the LSE-listed online gambling group recorded growth on all key operating metrics.   Publishing its Q3 2020 trading statement, Gamesys recorded a 31% increase in group revenues to £190 million, reflecting a period of strong organic growth which was supported by an increase in customer activity. Providing …

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Gamesys maintains UK growth as Euro regulatory headwinds stall performance

Gamesys Group has lauded its ability to mitigate COVID-19 complications, implementing ‘more restrictive advertising and bonusing requirements’ across its active European markets domains. Publishing its H1 2020 interim results (period ending 30 June), Gamesys revealed that regulatory headwinds in Sweden had contributed to the decline in revenues, with implications hampering its European operations falling by 4% from £36 million to …

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Gamesys halts UK advertising during lockdown

Gamesys Group Plc has disclosed that it will be suspending all TV and radio advertising across the UK until COVID-19 restrictions are lifted, highlighting its concerns over targeting children and those vulnerable to problem gambling.  Publishing its Q1 trading update for the three month period ending 31 March 2020, the company emphasised that it will be strengthening its responsible gambling …

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