Download full report with analyst certification and important disclosures
Apr 13 2021, 10:15 IST/BST
Gamesys Group
Bally’s and Gamesys Boards agree definitive terms
- Sectors : Gaming
- Companies : Gamesys Group
DAVY VIEW
Bally’s and Gamesys have agreed definitive deal terms and the business combination will be recommended by both Boards. A cash offer of £18.50 per share values the business at just 8.6x and 11.0x FY 2022 EV/EBITDA and FY 2022 P/E respectively, when dividends are included. Successful completion of the deal would represent good business for Bally’s — we are not convinced the deal fully reflects the strategic value of Gamesys’ product, technology and expertise in the burgeoning US online gaming market.
