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Gamesys and Bally’s shareholders approve mega-merger


Shareholders in Gamesys Group and Bally’s Corporation have voted to approve a mega-merger agreement between the two businesses that is set to create a leading retail and online gambling group in the US and beyond.

Gamesys announced in a statement that the court meeting to consider the scheme and the Gamesys general meeting to consider the special resolution relating to the combination — details of which were agreed by both boards in April — were each held today (30 June) and both were approved by the requisite majorities.

Some 92.4% of those who voted in the court meeting were in favour, with 99.1% of the general meeting backing the special resolution.

Bally’s shareholders have also voted to approve the deal, clearing the way for the merger agreement to progress forward.

The expected timetable of the combination remains the same and is likely to be completed in the fourth quarter of this year. The scheme remains subject to the sanction by the court at the court hearing as well as other conditions being met.

In April, the boards of both groups agreed to a deal that would see Bally’s acquire Gamesys’ issued and outstanding share capital via Premier Entertainment, its wholly owned subsidiary.

Bally’s said at the time it believes the deal would allow it to significantly increase its market share of the expanding US betting and igaming market, which analysts suggests could be worth up to $45bn at maturity.

Read the full story on iGB.