• Loading stock data...
Thursday, June 13, 2024

Bally’s Continues Acquisition Blitz

Bally’s/Design: Alex Brooks

Bally’s is pressing on with its aggressive move into digital betting, announcing plans to acquire U.K. gambling platform Gamesys for $2.7 billion. The companies have reached an agreement in principle, subject to shareholder and regulatory approval. 

Bally’s has offered 1,850 pence — or $23.54 — in cash for each share, representing a nearly 13% premium from Gamesys’ closing price on March 23. The founders and executives of Gamesys, who own 30.7% of its shares, have voiced their support for the deal.

Bally’s, formerly Twin River Worldwide Holdings, merged with Dover Downs Gaming & Entertainment in 2019 to go public, then bought the Bally’s casino for $25 million and the Bally’s name for $20 million. Since then: 

  • Acquired sports betting platform provider Be.Works for $125 million.
  • Acquired enterprise software solution platform SportCaller.
  • Purchased fantasy sports gaming website Monkey Knife Fight.
  • Entered an agreement with Sinclair Broadcasting to rebrand Fox regional sports channels with the Bally’s name. 
  • Announced official partnerships with MLB, NBA, and NHL.

Bally’s net income in Q4 2020, reported earlier this month, reached $20.2 million — a 51.4% increase year-over-year. Gamesys shares rose more than 14% after the news.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.

Padres Infielder Could Face Lifetime MLB Ban Over Gambling

As a Pirate last season, Tucupita Marcano allegedly bet on Pittsburgh games.
Sponsored

How Duracell is Making Fans Fall in Love with F1 Racing

Nobody expected this household brand to become F1’s newest darling.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
podcast thumbnail mobile
Front Office Sports Today

Stanley Cup Final a Clash of Vastly Different Markets

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Mar 11, 2024; Denver, Colorado, USA; Toronto Raptors center Jontay Porter (34) reacts after a play in the third quarter against the Denver Nuggets at Ball Arena.

Conspirator Arrested in Federal Complaint Tied to Jontay Porter Scheme

Authorities arrested Long Phi Pham at JFK airport Monday.
Tucupita Marcano
June 4, 2024

Lifetime Ban Is More Proof of Sports’ Complicated Betting Relationship

MLB suspends five players, including one permanently, for betting on big league games.
Dec 14, 2023; Los Angeles, CA, USA; Ippei Mizuhara, the translator for Los Angeles Dodgers designated hitter Shohei Ohtani, during an introductory press conference at Dodger Stadium.
June 4, 2024

Shohei Ohtani’s Former Interpreter Pleads Guilty to Stealing $17 Million, Tax Fraud

Mizuhara faces up to 33 years in prison, with sentencing in October.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Jul 9, 2023; Phoenix, Arizona, USA; Pittsburgh Pirates Tucupita Marcano (30) fields a ground ball against the Arizona Diamondbacks at Chase Field.
June 4, 2024

MLB Bans Padres Infielder for Betting on Baseball, Suspends Four Others

On the Pirateslast season, Tucupita Marcano bet on Pittsburgh’s own games.
DraftKings
May 30, 2024

More States Hiking Sports Betting Taxes, Eyeing Revenue Windfall

Illinois more than doubles its peak tax rate on sportsbook operators, with others likely to follow.
May 20, 2024

MLB Officially Investigating Gambling Allegations Against Ohtani’s Close Friend and Longtime Teammate

David Fletcher reportedly used the same bookmaker as Ohtani’s former interpreter.
May 8, 2024

Former Ohtani Interpreter Pleading Guilty to Bank Fraud, False Tax Return

Ippei Mizuhara faces up to 33 years in federal prison for his crimes.