Benzinga | Jun 30, 2021 04:16PM EDT

Bally's Corporation And Gamesys Group Shareholders Approve Business Combination

Bally's Corporation (NYSE:BALY) and Gamesys Group plc (LON: GYS) today announced that, at their respective meetings of shareholders held on June 30, 2021, each company obtained the requisite votes for all shareholder approvals related to the companies' proposed business combination. Closing of the transaction, which is subject to customary conditions including regulatory approval, is expected to take place during the fourth quarter of 2021. Relevant documentation can be found at https://www.ballys.com/gamesys-documentation.

Soo Kim, Chairman of Bally's Corporation's Board of Directors, said, "We are very pleased to have received our shareholders' support, enabling us to achieve this next milestone toward the transaction close. By combining with Gamesys, we will meaningfully accelerate our growth strategy to become a premier, global, omni-channel gaming company, which we believe will create significant long-term shareholder value. We look forward to closing the transaction later this year, and working with Lee and the rest of Gamesys' seasoned management team."

Lee Fenton, Gamesys' Chief Executive Officer, commented, "This combination represents a compelling opportunity to integrate Gamesys' market-leading gaming technology with Bally's growing U.S. gaming platform to create a vertically integrated company that is poised to capitalize on the rapidly expanding U.S. online sports betting and iGaming market. Given our comprehensive suite of collective assets and our track record of successfully developing online gaming operations in highly-competitive markets, we believe we will be able to offer customers a unique and differentiated approach to gaming."

Advisors

Bally's legal and financial advisors are Jones Day and Deutsche Bank. Gamesys' legal and financial advisors are Clifford Chance and Macquarie Capital.