Bally agrees to £2bn merger with Gamesys

Simona Boshkova | Published 25 Mar 2021, 9:39 a.m.

It’s not a secret that the United Kingdom and the United States possess the biggest online gambling markets worldwide. We regularly provide you with the latest UK and US gambling news to be up to date with the latest developments in these areas. 

When it comes to the UK, the gambling situation is a bit challenging, as the Gambling Commission currently reviews the Gambling Act and it recently fined InTouch Games for compliance failings. On the other hand, the US gambling market continues to expand, with Maryland and Georgia being the latest states to go towards legalising sports betting.

Recently, a number of iGaming companies decided to conclude agreements and make mergers with other companies in order to provide even better offerings on the market. For example, Entain has made its first moves to acquire Enlabs, an established Swedish online bookmaker. Now, it seems like another merger is on its way, and this time between Bally and Gamesys.

Capitalising on the iGaming market

Yesterday, it was announced that Bally’s Corporation and Gamesys Group have agreed on terms on a merger that would see Bally acquire Gamesys for £2bn. The agreement stipulates that Bally would pay £18.50 per Gamesys share, which represents a 12.7% premium on Gamesys’s closing share price. If completed, the merger would capitalise on the growing iGaming and sports betting market in the United States.

Both Bally and Gamesys boards believe that the merger would create long-term value for both companies and would be consistent with their growth strategies. Bally would benefit from Gamesys’ proven technology platform, expertise and experienced team across the online gaming market. On the other hand, Gamesys would benefit from Bally’s land-based and online platform in the US and would provide its services in key states.

In a statement, Bally's Chairman Soo Kim said that the company is excited about the opportunities that this merger would offer. He believes that the merger would enable significant growth opportunities in the U.S. sports betting and online markets. Neil Goulden, Chairman of Gamesys, said that the deal was about “putting together someone with a lot of online capability and capacity with a US retail operator into what will become the biggest gambling market in the world”.

FanDuel partners with Gamban for responsible gambling

In the meantime, another partnership between FanDuel and Gamban was announced. FanDuel, one of the biggest US iGaming companies, formed a partnership with Gamban, a UK-based technology company specialising in gambling blocking software. The partnership is part of FanDuel’s commitment to creating a responsible gambling program.

Upon regulatory approval in the United States, the new partnership will see Gamban’s blocking software made available free-of-charge to customers who decide to self-exclude from FanDuel’s gambling sites. Under the agreement that FanDuel announced, Gamban’s technology will block users from accessing gambling sites on up to 15 personal devices. 

Customers will be able to manage their play by setting deposit limits, wagers and time spent. What’s more, there will be a “play safe” tool available to self-exclude. Carolyn Renzin, Chief Risk & Compliance Officer at FanDuel, said that offering Gamban’s software to its customers will add another layer of protection to the whole gambling industry. Jack Symons, the founder of Gamban, added that this is a huge moment for the industry and for the company itself.