Bally’s Future Looks Bright With Tropicana and Gamesys Acquisitions
Bally’s Corp has recently completed its acquisition of UK-based Gamesys Group, and is currently in the process of acquiring one of the most popular casinos in Las Vegas, the Tropicana. Bally’s CFO Steve Capp has talked to gaming regulators, touting the company’s future with these new acquisitions.
Gamesys is a UK-based online gaming operator. However, they also have operations in Asia, New Jersey, and other parts of Europe. With their acquisition, Bally’s has now broadened its horizons and has become a global gaming company. The company has even doubled its size with the Gamesys acquisition.
The acquisition also allows it to offer online gaming and sports betting to its players. Prior to the acquisition, Bally’s only had brick-and-mortar operations in the United States.
Capp would add that because Gamesys has operations in the EU, Asia, and the UK, it would add an international component to their business. Overall, it would also greatly strengthen their cash-flow profile as they will now be able to tap into land based and online betting revenue.
Capp also told gaming regulators that they intend to venture into multiple industries going forward. This would include entertainment casino products and media technology. They aim to be competitive in the latter with their partnership with the Sinclair Broadcast Group, which broadcasts content produced by Bally’s.
Bally’s Expanding Into New Markets
Steve Capp has certainly been one of the driving forces behind the company’s expansion. He joined the company back in 2012, when it was still under the name Twin River Worldwide Holdings and only had one property in Rhode Island. Since he joined the company, a number of acquisitions have taken place starting with Hard Rock in Biloxi, Mississippi back in 2014.
In 2019, they would acquire a company listed under the New York Stock Exchange (NYSE), called Dover Downs Gaming. The company would then go public, which made it able to use stock for future acquisitions, which in turn led to the company acquiring Gamesys.
They would change their company name to Bally’s after acquiring the name from Caesars Entertainment back in 2020.
Currently, Bally’s has 10,000 individuals under employment, as well as 5,300 hotel rooms. They also currently own North American daily fantasy sports site, Monkey Knife Fight, as well as global B2B free-to-play game provider SportCaller. They also own Telescope Inc, which provides fan engagement solutions in real time.
Moving forward, the company is seeking to close their purchase of the Tropicana Las Vegas from Gaming and Leisure Properties, Inc. by early 2022 by paying $308 million.
KTNV Channel 13 Las Vegas