$2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling

[sikke]

I don't think that this is going to be terribly interesting.

These land-based casinos have no expertise when it comes to running online based casinos and thus I do not believe in their long term future.

The bulk of the innovation is likely going to come from smaller players and startups who have adopted crypto and have been operating for a good part of the last decade.

[1715018849]

1715018849

[1715018849]

1715018849

[1715018849]

1715018849

[1715018849]

1715018849

[1715018849]

1715018849

[CaVO32]

I don't think that this is going to be terribly interesting.

These land-based casinos have no expertise when it comes to running online based casinos and thus I do not believe in their long term future.

The bulk of the innovation is likely going to come from smaller players and startups who have adopted crypto and have been operating for a good part of the last decade.

Don't underestimate their capability. Because as we experienced this pandemic, a lot of industries go online in terms of their business operations. It may be hard at the beginning but everyone starts from something. They can always hire the best employees to make sure they are relevant and will be operating smoothly. Now, they will also see that crypto gambling is also rising. I don't think they are not aware about crypto casinos. So more than likely, they can also deploy an online-based casino because they are now seeing that a lot of gamblers are heading to online casinos owed to pandemic restrictions.

[davis196]

Unlike a complete ban on cryptocurrencies as was done recently in China, the U.S. Federal Reserve does not intend to ban cryptocurrencies and in my opinion this suggests that cryptocurrencies will find more and more use in the United States. So I think that soon US citizens will be able to easily use cryptocurrency payments not only in online casinos, but also in land-based casinos.

I think that crypto gambling will continue to be unregulated in the USA.
The fact that cryptocurrencies aren't illegal in the USA doesn't mean that crypto casinos and crypto gambling will become legal.So you think that soon crypto payments will be allowed both on online and offline casinos in the US?
Do you have some insider information or you are just guessing?
Anyway,I don't know what to say about this merger.I guess that Ballys Corp wants to expand in the world of online gambling,that's why they are buying an already developed online gambling business.
The price seems a little bit high.Perhaps the 2.7 billion USD investment will payoff in more than 10 years.

[Hypnosis00]

I am hoping that this land-based and online fiat casino will try to consider accepting crypto, it doesn't mean if the US market is so regulated as long as they are open for crypto and ready to regulate it. They have a big market already, but they will increase their profit if they will accept crypto as we are a billion-dollar market as well.  Maybe it's too early, but we are hoping that in the future, just like other countries, the US will be more friendly with crypto and will allow adoption of it.

[Wexnident]

I think that crypto gambling will continue to be unregulated in the USA.
The fact that cryptocurrencies aren't illegal in the USA doesn't mean that crypto casinos and crypto gambling will become legal.So you think that soon crypto payments will be allowed both on online and offline casinos in the US?
Do you have some insider information or you are just guessing?
Anyway,I don't know what to say about this merger.I guess that Ballys Corp wants to expand in the world of online gambling,that's why they are buying an already developed online gambling business.
The price seems a little bit high.Perhaps the 2.7 billion USD investment will payoff in more than 10 years.

They're pretty much undecisive with it no? So they're just letting it sit with the natural rules which is viewing crypto as securities iirc. I wouldn't take upon them actually doing something till the next few years tbh, so it'd only remain as such in the upcoming years. I'd highly doubt this would influence anything at all with crypto, that is, unless, Bally's Corp and Gamesys actually have some sort of relationship with crypto where they would actively push for it's regulation, then other than being a big merger, there's really not much relation with crypto.

[Victorycoin]

The lack of illegal gambling control in the united states makes it difficult to accurately estimate how many of these units exist across the country because they are often illegal they do not follow the rules in a given situation, nor do they undergo tests that prove their legitimacy. Children and self excluded gamblers can often play because such games are widely accessible to the public once legalized in the united states, crypto will become a major market the amount of their dollars for gambling will increase..

[Smartprofit]

Bally's Corporation and Gamesys has finalized their 2.7 billion USD mergar plan.

A leading casino-entertainment company, Bally’s Corporation completed its merger with Gamesys Group, the online gaming company. Under the deal, Bally’s agreed to pay approximately $2.7 billion (£2 billion) to Gamesys Group. This represents approximately $25 per company share in cash.

Bally's corporation was a land based casino group. But now after the merger of Gamesys, they are going to bring omni channel gambling platform including a grand online casino.

News reference: https://www.gamblingnews.com/news/ballys-corporation-finalizes-merger-with-gamesys-group/

While I don't find any mention of cryptocurrency based casino in this news. But in US market, where gambling is super regulated, do you all think that it will pave ways for innovation and possibly cryptocurrency based casinos?

In my opinion, you need to keep an eye on recruiting sites.  When we see Bally's Corp looking for specialists in crypto and blockchain, then we will understand that a grand online casino is being created that works with cryptocurrency. 

I do not see any legal obstacles for this.  The US government and regulators are liberal about Bitcoin. 

At the same time, the use of cryptocurrencies as bets in online casinos is a good driver for the massive use of cryptocurrencies. 

Therefore, the news of the merger between Bally's Corp and Gamesys is very positive news.

P.S. 

Are the top managers of the merged corporation already known?

[michellee]

I am hoping that this land-based and online fiat casino will try to consider accepting crypto, it doesn't mean if the US market is so regulated as long as they are open for crypto and ready to regulate it. They have a big market already, but they will increase their profit if they will accept crypto as we are a billion-dollar market as well.  Maybe it's too early, but we are hoping that in the future, just like other countries, the US will be more friendly with crypto and will allow adoption of it.

We can only wait for a while for the land-based and online fiat casinos will accept crypto. And once that can happen, they will have the opportunity to get more members who often use crypto to playing gambling and who knows, their revenue can be bigger than the regular gambler who plays in their place. As long as the positive news comes to the crypto market, sooner or later, that will attract their attention. Hopefully, that will give them time to research crypto before implementing it in their system.

[cafucafucafu]

This is going to be the only way for physical casinos to survive - through mergers and acquisitions of their online counterparts.

Especially after COVID, I think that there is pretty much no chance that people are going to go back to gambling physically anymore.

The valuations of online based platforms are only going to increase from this point on, and the reverse is true for land-based alternatives.

[iv4n]

Bally's Corporation and Gamesys has finalized their 2.7 billion USD mergar plan.

A leading casino-entertainment company, Bally’s Corporation completed its merger with Gamesys Group, the online gaming company. Under the deal, Bally’s agreed to pay approximately $2.7 billion (£2 billion) to Gamesys Group. This represents approximately $25 per company share in cash.

Most landed casinos are finding their way online because most gamblers are more comfortable playing online other than on land. Merging with Gamesys Group should be one of the best decisions they made in a long while.

But they still have to include crypto gambling to their options if they haven't done so. Because fiat based casinos is not as good enough compared to crypto based in terms of returns and profit.

It's true that many land casinos are trying to find their way online, it's happening in my country as well, ground-based casinos are opening their online versions and some new only online are appearing, I wrote about it recently! Since I am an online gambler, I understand why people choose online over going to the real casinos, it's more comfortable, simple, and easy... and I don't need to bother to go anyway!

Well, the crypto gambling scene is growing, the numbers are growing too... we will see are those numbers are interesting enough for this casino to include crypto in payment options!

[hello_good_sir]

Definitely makes sense for Bally's.

They weren't going to survive just running physical locations anymore. Rent is expensive and at the end of the day people simply aren't that fond of going back to a physical premises after the lockdowns.

Online is the way to the future for casinos. Even a fool knows that.

[uneng]

That is not so easy for these traditional gambling companies to adopt crypto currency because regulations from the countries where they are established must be taken into consideration and most of them are full of bureaucracy. That is the only reason I can imagine why they didn't adopt it yet, because online casinos have only to profit by using crypto currencies. In other words: to not adopt crypto is a waste of time and money.
Maybe in the next few years we are going to see some changes in regulations to make the adoption process by companies easier and more accessible.

[slaman29]

These land-based casinos have no expertise when it comes to running online based casinos and thus I do not believe in their long term future.

The bulk of the innovation is likely going to come from smaller players and startups who have adopted crypto and have been operating for a good part of the last decade.

I always wondered though about those big brand ones especially like William Hill, because they are one of the most reputable ones and land based but uniquely were actually also one of the earliest ones to try and go for an online presence.

Yet they are in constant trouble just trying to stay alive. People chose other online casinos and not them.

Gamesys I've heard of but never Bally's. I honestly don't feel like this is major news at all, so I'm with you.

[imstillthebest]

This is going to be the only way for physical casinos to survive - through mergers and acquisitions of their online counterparts.

Especially after COVID, I think that there is pretty much no chance that people are going to go back to gambling physically anymore.

The valuations of online based platforms are only going to increase from this point on, and the reverse is true for land-based alternatives.

dont talk about that . there are some countries that are now living normally and theres also countries where you can now play in phyisical casinos as soon as you follow some health protocols .
 maybe to some , they will try online gambling and start loving it to the point that they wont go back playing in physical casinos  .

[Silberman]

Bally's Corporation and Gamesys has finalized their 2.7 billion USD mergar plan.

A leading casino-entertainment company, Bally’s Corporation completed its merger with Gamesys Group, the online gaming company. Under the deal, Bally’s agreed to pay approximately $2.7 billion (£2 billion) to Gamesys Group. This represents approximately $25 per company share in cash.

Most landed casinos are finding their way online because most gamblers are more comfortable playing online other than on land. Merging with Gamesys Group should be one of the best decisions they made in a long while.

But they still have to include crypto gambling to their options if they haven't done so. Because fiat based casinos is not as good enough compared to crypto based in terms of returns and profit.

The preferences of the people are changing due to the pandemic, many people preferred to gamble at physical casinos due to the experience they could get and the bonding and the relationships that could develop in a casino, plus it is always exciting to see other people winning and being excited about it, however due to the pandemic people now are preferring to not take risks and even if now we are much better informed about the effects of the virus some are still deciding to gamble from the comfort of their home so this is becoming more and more common.

[AicecreaME]

They could do it anytime, but the only concern is if their players would adapt such new thing, I mean it's not very easy to try something new especially if you are always using fiat in gambling and suddenly jump out to cryptocurrency in betting. There's a lot of things the players should do first before using it in my opinion because they could lose a lot of money if they are going to bet it carelessly, you know what I mean.

[Fortify]

I don't think that this is going to be terribly interesting.

These land-based casinos have no expertise when it comes to running online based casinos and thus I do not believe in their long term future.

The bulk of the innovation is likely going to come from smaller players and startups who have adopted crypto and have been operating for a good part of the last decade.

What these casinos do have is a huge stream of revenue - they built their massive casinos, paid off the construction bill a long time ago and are now raking in huge amounts of money with relatively low costs. Casinos are pure money making machines in certain markets, anyone who has a monopoly of a large metropolitan area will draw in every gambler around and people who just want to try a different social experience. 99% of the games in there are taking in money and paying out very little, of course there will be the odd bumper payout but it is minuscule compared to the average takings. It was natural that, especially with the US laws opening up, they would start to invest some of that money into successful online casinos.

[crzy]

They could do it anytime, but the only concern is if their players would adapt such new thing, I mean it's not very easy to try something new especially if you are always using fiat in gambling and suddenly jump out to cryptocurrency in betting. There's a lot of things the players should do first before using it in my opinion because they could lose a lot of money if they are going to bet it carelessly, you know what I mean.

The merger is not about crypto gambling though, its just about making gambling online and there’s no sign of a new crypto gambling site probably they do this merger so they can still operate 24/7 and to give more access to every gamblers online. I’d hope that they’ll also introduce crypto gambling later on, well fiat money or crypto can still lose money as long as its gambling.

[RealMalatesta]

Bally's corporation was a land based casino group. But now after the merger of Gamesys, they are going to bring omni channel gambling platform including a grand online casino.

News reference: https://www.gamblingnews.com/news/ballys-corporation-finalizes-merger-with-gamesys-group/

While I don't find any mention of cryptocurrency based casino in this news. But in US market, where gambling is super regulated, do you all think that it will pave ways for innovation and possibly cryptocurrency based casinos?

The news itself is a good one but I am not entirely sure how it is a merger if Bally's corp "paid" gamesys? I mean shouldn't that be acquisition instead of a merger then? Maybe I am missing some details but it certainly looks like one bought the other if it was payment.

Normally merger happens like this; there is a big company, and that company pays the other smaller company a lot of their shares, so the smaller company becomes a minority owner. Facebook controls most of social media but even they had to pay with their shares, it was more of a merger even in that case which we all know there is no board seat so it is not fully merger but even they paid with shares. So, maybe I am missing some details of this deal.

[AicecreaME]

I don't think that this is going to be terribly interesting.

These land-based casinos have no expertise when it comes to running online based casinos and thus I do not believe in their long term future.

The bulk of the innovation is likely going to come from smaller players and startups who have adopted crypto and have been operating for a good part of the last decade.

I don't think so.

Cryptocurrency is very inspirational and moving. Even countries decided to accept and invest in cryptocurrency to fight the economic suffering of their country, and it is possible that most of the industry will also do the same thing, because they could earn so much more rather than sticking to fiat. Businessmen are always after for profits, therefore I don't see it impossible at all in the gambling industry. They just need time and proper knowledge to start adapting cryptocurrency.