The representatives of Bally's Corporation and Gamesys have made the public announcement, saying that two gaming companies-giants will join forces. The possibility of the alliance has been much discussed in the news about the casino industry earlier.
After several discussions, the gambling companies have finally agreed on the terms of the partnership and plans for future operation.
Companies want to expand business in several regions
According to the contract, Bally's will take over Gamesys, paying 1 850 pence for a share. This offer is profitable for the Gamesys owners as the company’s average 3-months cost per share is 1 373 pence. The suggested payment is more than a 35 percent increase. In addition to this, the Gamesys shareholders will get the right to exchange the firm’s stocks for 0.343 of the acquisitor’s shares.
The acquisition carried out in compliance with the UK Takeover Code will open development opportunities for both businesses. The synergy will help them to get more recognition in the online and retail sectors in several regions. However, the companies are focused mainly on the US market, which promises to be estimated at $45 billion soon.