Gamesys Group (GYS)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

1,845.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 2,005.00
  • 52 Week Low: 1,040.00
  • Currency: UK Pounds
  • Shares Issued: 109.73m
  • Volume: 855,419
  • Market Cap: £2,024.52m
  • RiskGrade: 149

Bally's agrees in principle to buy Gamesys for £2bn

By Sean Farrell

Date: Wednesday 24 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Bally's of the US has agreed in principle to buy Gamesys in a deal that would value the online gaming operator at £2bn.
Under the possible combination Bally's would pay £18.50 cash for each Gamesys share - 12.7% more than the closing price on 23 March and 39.1% higher than Gamesys's closing share price before Bally's initial proposal dated 26 January.

The companies said Gamesys would benefit from Bally's platform in the US as online gaming and sports betting opens up in the world's biggest economy. Bally would gain Gamesys's technology, expertise and management with Gamesys chief executive Lee Fenton heading the combined group.

Gamesys's board has told Bally's it is minded to recommend the cash offer to shareholders subject to agreeing on terms and conditions and reciprocal due diligence. Fenton, chief operating officer Robeson Reeves and three founding investors, holding a total of 30.5% of the company, will support the deal if it is confirmed.

Soo Kim, chairman of Bally's, said: "We believe that this combination would mark a transformational step in our journey to become a leading integrated, omni-channel gaming company. We think that Gamesys's proven technology platform alongside its highly respected and experienced management team, combined with the US market access that Bally's provides, should allow the combined group to capitalise on the significant growth opportunities in the US sports betting and online markets."

Gamesys shares jumped 18% to £19.39.6p, suggesting some investors think a counter-bid could emerge with US gambling companies scrambling to acquire online gaming technology and knowhow.

Qualifying Gamesys shareholders will be able to take all or part of their payment in shares at a value of 0.343 new Bally's share for each Gamesys share, valuing Gamesys shares at £16.55 based on Bally's closing price on Tuesday. The Gamesys executives and founders have said they would take this option instead of cash to gain from potential value creation from the combination.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Gamesys Group Market Data

Currency UK Pounds
Share Price 1,845.00p
Change Today -2.00p
% Change -0.11 %
52 Week High 2,005.00
52 Week Low 1,040.00
Volume 855,419
Shares Issued 109.73m
Market Cap £2,024.52m
RiskGrade 149

Gamesys Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.68% below the market average9.68% below the market average9.68% below the market average9.68% below the market average9.68% below the market average
84.38% above the sector average84.38% above the sector average84.38% above the sector average84.38% above the sector average84.38% above the sector average
Price Trend
75.91% above the market average75.91% above the market average75.91% above the market average75.91% above the market average75.91% above the market average
80.56% above the sector average80.56% above the sector average80.56% above the sector average80.56% above the sector average80.56% above the sector average
Income
14.81% below the market average14.81% below the market average14.81% below the market average14.81% below the market average14.81% below the market average
44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average
Growth
99.09% above the market average99.09% above the market average99.09% above the market average99.09% above the market average99.09% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Gamesys Group Dividends

  Latest Previous
  Interim Final
Ex-Div 09-Sep-21 13-May-21
Paid 15-Oct-21 16-Jun-21
Amount 15.00p 28.00p

Trades for 21-Sep-2021

Time Volume / Share Price
16:39 320,000 @ 1,846.00p
16:35 32,201 @ 1,845.00p
16:29 13 @ 1,846.00p
16:29 180 @ 1,846.00p
16:29 171 @ 1,846.00p

Gamesys Group Key Personnel

CFO Keith Laslop

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