Bally’s to fully acquire Gamesys by the end of September
The leading regional casino & sports betting entertainment company – Bally’s Corporation, has announced the end-date of the elongated buyout process of Gamesys Group.
Gamesys Group unveils exceptional 2020 results
Gamesys Group Plc has released the company’s financial performance and results during 2020.
The transformed company reached group revenues worth £772 million, a colossal increase of 75% from the previous year (£415 million). The company was quite to mention that it had attained all of its operational goals, after fusing Jackpotjoy with Gamesys B2C brands.
Even though the company was also faced with some rough days due to the sudden COVID-19 pandemic, its augmented UK portfolio was able to provide an impressive 19% boost in yearly revenues, reaching up to £423 million from £357 million in 2019. This increase was mostly caused by brand growth and a growing active client spend.
The company also saw its revenues in Asia almost doubling, going from £122 million in 2019 to £218 million in 2020. It also said that it has now become the leader in online casino in Japan. Back in Europe however, the group did not see much improvement in revenue, but it was able to meet its revenues from the previous year of approximately £68 million.
Gamesys reported an adjusted group EBITDA for the entire year of £206 million, another huge boost from the £117 million of 2019 (75% increase).
As it ends year one trading on LSE, Gamesys revealed net income of £67 million. This means a massive 638% increase from 2019’s £9 million. The company also highlighted its improved and reinforced balance sheet, as it currently holds a reserve worth £212 million after lowering its debt by £312 million.
Gamesys Group Plc CEO, Lee Fenton, said:
“Despite 2020 being a year like no other, our ongoing focus on operational execution, product innovation and responsible gambling underpinned a strong performance, with pro-forma revenues increasing by 29% and pro-forma adjusted EBITDA up 30%. We continue to go from strength to strength in Asia, while the UK delivered strong double-digit revenue growth – all set against the backdrop of ongoing enhancements to our responsible gambling approach. We also remain excited by our prospects in North America, both in the US and Canada. Our focus on recreational customers, our differentiated brands, proprietary technology and established market positions, have attracted record numbers of players in 2020 and we believe this foundation will allow us to continue to deliver sustainable and long-term growth in the year ahead and beyond.”
Bally’s reaches agreement in £2 billion Gamesys acquisition
The offer’s conditions reveal that Bally’s will also be providing a Share Alternative to all Gamesys shareholders, which will give them the chance to obtain New Bally’s...
