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Bally’s Completes Gamesys Acquisition; Boosts Share Repurchase To $350M

Bally’s Corp (NYSE:BALY) Board of Directors has increased its existing share repurchase authorization to $350 million of outstanding shares of common…
byShivani Kumaresan
October 4, 2021
1 minute read
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  • Bally’s Corp (NYSE:BALY) Board of Directors has increased its existing share repurchase authorization to $350 million of outstanding shares of common stock.
  • The company made this move given the closing of the Gamesys acquisition and its new $4.065 billion debt package.
  • Bally’s also completed its previously announced combination with Gamesys Group plc, a UK-based online gaming operator.
  • With the transaction closing, former Gamesys CEO Lee Fenton will now serve as Bally’s CEO.
  • Additionally, former Bally’s CEO George Papanier will assume the role of President, Retail, for Bally’s land-based casino business. Former Gamesys COO Robeson Reeves will take the role of President, Interactive.
  • Further, Fenton, Reeves, and Jim Ryan have been appointed to serve on Bally’s Board.
  • Price Action: BALY shares are trading higher by 0.24% at $53.21 on the last check Monday.
 
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