The first quarter of 2021 saw an increase in merger and acquisition activity, particularly in the software development speciality. Bally Technologies, based in the United States, has agreed to buy rival Gamesys for £2 billion ($2.5 billion USD). With new legislation being enacted, the move will allow them to expand into an ever-growing market; it is considered as a deal that makes sense from both parties’ perspectives — one that should be pursued!
The terms of the agreement state that Bally’s would pay £18.50 for each Gamesys share, gaining access to expertise in both technological and organisational areas as a result of their acquisition—a major clue in terms of what strategic plans they may have going forwards with this new organisation led by Lee Fenton, who currently has a nett worth of 13 million pounds after pocketing all profits made off the deal.
With this new trend, additional parties are expected to compete for market share in the United States. In fact, Caesars already acquired William Hill on the operator side, which was a major clue as to how things were going because they knew America would soon legalise online gambling again, owing largely to their strong ties with politicians here at the state level levels- Senator Hatch being one such example; he helped push through legislation legalising sports betting last year.
Bally’s chairman, Soo Kim, obviously sees the value in this transaction and is excited about the prospect of establishing a US gaming company that provides both integrated and omni-channel services. He also discussed how Gamesys’ management team will assist them in achieving their goals, as well as how they will be able to leverage on growth potential given by markets like as gambling or sports betting.
What are Gamesys, exactly?
Noel Hayden, Andrew Dixon, and Robin Tombs, along with a handful of software professionals, founded the company in 2001. Despite staying under the radar for nearly two decades, they have impressively gone about their business flying under the radar with Jackpot Joy as well as other important brands, not just as an operator but also as a key developer, providing Bally’s massive advantage over its competitors.
When we think of online gambling, the first person who springs to mind is William Hill, who now possesses licences throughout Europe, which we know will be valuable assets now more than ever before.
Bally’s recent M&A (merger and acquisition) activity in the US market indicates that they seek to drive their online assets.
What this could mean for Bally
The internet gambling business in the United States is heating up, which might be fantastic news for a company that has been preparing to capitalise on Rhode Island’s forthcoming legalisation. With access to a large amount of money potential from their new headquarters, there is no limit to what these gamers may do together!