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

molsewid

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Quote from: samcrypto on October 11, 2021, 04:51:35 PM

Every casino based companies should adopt online gambling now because its the trend and the pandemic pushes those casinos to go online and that is the reason of this merger after all. The next target for sure is to have crypto gambling site as well since many gamblers are also into cryptocurrency.

Though we already have a lot of good site for crypto gambling but still, we need more to cater this growing market and once the adoption happens on many countries, I’m pretty sure many will also try crypto gambling. Those who came early will have a good advantage for this.

I bet that some or maybe every land based casino were already considering of adopting online gambling since pandemic begun it also gives every business no other option than making services, products and even entertainment made available online because of the health threat of getting infected. Pretty sure that merging of Bally's and Gamesys doesn't planning to build strong gambling business via land based casino because they probably also thinking how to create strong gambling business online and who knows maybe having another option of payment like allowing crypto is also one of their agenda.

Mahanton

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Quote from: passwordnow on October 12, 2021, 07:38:40 AM

Quote from: TimeTeller on October 11, 2021, 02:54:41 PM

Quote from: passwordnow on October 11, 2021, 01:21:55 PM

Quote from: fiulpro on October 11, 2021, 12:37:18 PM

If they do finally decide to bring it online and also start accepting cryptocurrencies as well, I do think this might not work straight away, since there is a lot of competition in that market and they cannot really risk anything at that point.

Bringing it online world mean already having a whole lot of customers returning to the casino and at the same time they can make a lot of money, more money since during the covid it's hard to basically run any business like that, there is always a fear of an outbreak happening.

This idea can go both ways.
Regulations are strict but not in all the states, at some places it might flourish well, therefore it's all dependent on how well they do their research. Cryptos can provide global exposure as well. Let's see how it goes.

They can test it out if this is going to be working for them but if they're more focused on the opposite market physically, then they have to stay where they're strong and branded well. Adopting cryptos is just like adding a payment option to them so it won't really matter that much on their end if they do that. And for the side of their customers, they'll have various options for cash-in/cash-out. But yeah, it's going to rely on how they'll make themselves known through after adopting it.

Exactly! Venturing in crypto is just like an added payment option for their regular patrons.
And in case of exploring their opportunities in online casino, it is just another part of their business.
It doesn't mean that they can't survive if their online venture will not be a success.
And in case, they will get into this online market, definitely, they know what they are doing.
They won't involve themselves and shell out huge money if they know they can't get something from it.
We should not treat them as beginners in this field, because they are not.

Yes, there's not that much needed to think of the worry because they can just start out with another payment method by adding the crypto payments as an option for their customers.
It's good to have several methods for which supports their customers from every part of the world so that it's very accessible to all of them. But having the addition of crypto, this is going to make it more accessible to everyone with quick and cheap transaction fee.

Any option or method that would add up on someones convenience or into its users would always be a plus and as a business you would really be finding ways or things which would really be adding up your advantage
against with the current competitors and now that crypto is on the trend then its just normal that there would be sudden changes or considerations on adding it up so that your site or service will really be able
to accept those users on other sides which couldnt possibly get in due to unavailability or some border.

passwordnow

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Quote from: TimeTeller on October 11, 2021, 02:54:41 PM

Quote from: passwordnow on October 11, 2021, 01:21:55 PM

Quote from: fiulpro on October 11, 2021, 12:37:18 PM

If they do finally decide to bring it online and also start accepting cryptocurrencies as well, I do think this might not work straight away, since there is a lot of competition in that market and they cannot really risk anything at that point.

Bringing it online world mean already having a whole lot of customers returning to the casino and at the same time they can make a lot of money, more money since during the covid it's hard to basically run any business like that, there is always a fear of an outbreak happening.

This idea can go both ways.
Regulations are strict but not in all the states, at some places it might flourish well, therefore it's all dependent on how well they do their research. Cryptos can provide global exposure as well. Let's see how it goes.

They can test it out if this is going to be working for them but if they're more focused on the opposite market physically, then they have to stay where they're strong and branded well. Adopting cryptos is just like adding a payment option to them so it won't really matter that much on their end if they do that. And for the side of their customers, they'll have various options for cash-in/cash-out. But yeah, it's going to rely on how they'll make themselves known through after adopting it.

Exactly! Venturing in crypto is just like an added payment option for their regular patrons.
And in case of exploring their opportunities in online casino, it is just another part of their business.
It doesn't mean that they can't survive if their online venture will not be a success.
And in case, they will get into this online market, definitely, they know what they are doing.
They won't involve themselves and shell out huge money if they know they can't get something from it.
We should not treat them as beginners in this field, because they are not.

Yes, there's not that much needed to think of the worry because they can just start out with another payment method by adding the crypto payments as an option for their customers.
It's good to have several methods for which supports their customers from every part of the world so that it's very accessible to all of them. But having the addition of crypto, this is going to make it more accessible to everyone with quick and cheap transaction fee.

ipanks

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Quote from: Cling18 on October 09, 2021, 11:01:05 AM

It will take time though what we only need for now is legalization. Most gamblers have switched to online casinos because it's more convenient for them to use them during this pandemic though there are still lots of hindrances. This huge corporation still has a lot to consider but I also believe that they could possibly do their plans in time.

Getting legalize is not easy for gambling businesses, especially if they are in a country that is on the grey side of gambling legalization. But yes, many gamblers were switched to the online casinos during this pandemic because that gives them a way to continue playing gambling and will be safe for them while staying at home.

The merger could pave the way for the adoption, innovation and integration of crypto into the gambling business like online crypto gambling already did. For sure, online gambling, whether based on fiat or crypto, will grow and if the merger succeeds, it could trigger the other gambling company to integrate or do a merger with online gambling.

samcrypto

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Quote from: crzy on October 11, 2021, 03:17:00 PM

Quote from: tabas on October 10, 2021, 01:50:24 AM

As far as it can go, there's a likelihood that they'll add crypto options soon. But not until they're more focused on fiat then just don't expect that it's going to be a quick phase that they'll adopt cryptocurrencies soon. This merge will everyone realize that there's more to grow to the crypto gambling industry knowing that this is a fiat-based casino.

Gamesys are into online gambling but they haven’t introduce any crypto gambling site and maybe, with this huhe merger they will start to explore cryptocurrency since they have been working with fiat money since then and diversification is not a bad thing and expanding your business is always a good choice. Well, soon they will have if but for now Ballys are more focus on fiat based online casinos, this is their next target so far.

Every casino based companies should adopt online gambling now because its the trend and the pandemic pushes those casinos to go online and that is the reason of this merger after all. The next target for sure is to have crypto gambling site as well since many gamblers are also into cryptocurrency.

Though we already have a lot of good site for crypto gambling but still, we need more to cater this growing market and once the adoption happens on many countries, I’m pretty sure many will also try crypto gambling. Those who came early will have a good advantage for this.

crzy

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Quote from: tabas on October 10, 2021, 01:50:24 AM

As far as it can go, there's a likelihood that they'll add crypto options soon. But not until they're more focused on fiat then just don't expect that it's going to be a quick phase that they'll adopt cryptocurrencies soon. This merge will everyone realize that there's more to grow to the crypto gambling industry knowing that this is a fiat-based casino.

Gamesys are into online gambling but they haven’t introduce any crypto gambling site and maybe, with this huhe merger they will start to explore cryptocurrency since they have been working with fiat money since then and diversification is not a bad thing and expanding your business is always a good choice. Well, soon they will have if but for now Ballys are more focus on fiat based online casinos, this is their next target so far.

TimeTeller

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Quote from: passwordnow on October 11, 2021, 01:21:55 PM

Quote from: fiulpro on October 11, 2021, 12:37:18 PM

If they do finally decide to bring it online and also start accepting cryptocurrencies as well, I do think this might not work straight away, since there is a lot of competition in that market and they cannot really risk anything at that point.

Bringing it online world mean already having a whole lot of customers returning to the casino and at the same time they can make a lot of money, more money since during the covid it's hard to basically run any business like that, there is always a fear of an outbreak happening.

This idea can go both ways.
Regulations are strict but not in all the states, at some places it might flourish well, therefore it's all dependent on how well they do their research. Cryptos can provide global exposure as well. Let's see how it goes.

They can test it out if this is going to be working for them but if they're more focused on the opposite market physically, then they have to stay where they're strong and branded well. Adopting cryptos is just like adding a payment option to them so it won't really matter that much on their end if they do that. And for the side of their customers, they'll have various options for cash-in/cash-out. But yeah, it's going to rely on how they'll make themselves known through after adopting it.

Exactly! Venturing in crypto is just like an added payment option for their regular patrons.
And in case of exploring their opportunities in online casino, it is just another part of their business.
It doesn't mean that they can't survive if their online venture will not be a success.
And in case, they will get into this online market, definitely, they know what they are doing.
They won't involve themselves and shell out huge money if they know they can't get something from it.
We should not treat them as beginners in this field, because they are not.

passwordnow

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Quote from: fiulpro on October 11, 2021, 12:37:18 PM

If they do finally decide to bring it online and also start accepting cryptocurrencies as well, I do think this might not work straight away, since there is a lot of competition in that market and they cannot really risk anything at that point.

Bringing it online world mean already having a whole lot of customers returning to the casino and at the same time they can make a lot of money, more money since during the covid it's hard to basically run any business like that, there is always a fear of an outbreak happening.

This idea can go both ways.
Regulations are strict but not in all the states, at some places it might flourish well, therefore it's all dependent on how well they do their research. Cryptos can provide global exposure as well. Let's see how it goes.

They can test it out if this is going to be working for them but if they're more focused on the opposite market physically, then they have to stay where they're strong and branded well. Adopting cryptos is just like adding a payment option to them so it won't really matter that much on their end if they do that. And for the side of their customers, they'll have various options for cash-in/cash-out. But yeah, it's going to rely on how they'll make themselves known through after adopting it.

fiulpro

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If they do finally decide to bring it online and also start accepting cryptocurrencies as well, I do think this might not work straight away, since there is a lot of competition in that market and they cannot really risk anything at that point.

Bringing it online world mean already having a whole lot of customers returning to the casino and at the same time they can make a lot of money, more money since during the covid it's hard to basically run any business like that, there is always a fear of an outbreak happening.

This idea can go both ways.
Regulations are strict but not in all the states, at some places it might flourish well, therefore it's all dependent on how well they do their research. Cryptos can provide global exposure as well. Let's see how it goes.

Silberman

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Quote from: Fortify on October 08, 2021, 03:36:22 PM

Quote from: sikke on October 06, 2021, 06:14:42 PM

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.

While it is true that gambling industry is a very successful one we must remember that they are also paying huge amounts of taxes due to the government imposing sin taxes on them and that once the pandemic came the preferences of people changed and now there is a very strong preference to gamble online so traditional casinos are not making as much money as they used to, so it makes sense a merger like this occurs so they can expand online and reach a new type of customer.

tabas

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As far as it can go, there's a likelihood that they'll add crypto options soon. But not until they're more focused on fiat then just don't expect that it's going to be a quick phase that they'll adopt cryptocurrencies soon. This merge will everyone realize that there's more to grow to the crypto gambling industry knowing that this is a fiat-based casino.

24Kt

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Quote from: AicecreaME on October 09, 2021, 08:20:52 AM

Quote from: sikke on October 06, 2021, 06:14:42 PM

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.

During the height of the pandemic period, I believe these offline casino owners saw or heard the boom of these online casinos. So in that long period of inactivity, I have the feeling that some of them already looked into online casinos as possible addition in their business. Because if you are a business owner, you will look for your possible competitors and now that online casinos are doing good, I can assume that some of them will really explore their opportunities in this type of gambling. So I won't say, they have no expertise in running online casinos, because they already have the grasp of running offline casinos, so it won't be too hard for them to hire a person capable to handle this kind of job. And besides, they already have their regulars, so introducing their online platform would not be too difficult to their patrons.

Cling18

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It will take time though what we only need for now is legalization. Most gamblers have switched to online casinos because it's more convenient for them to use them during this pandemic though there are still lots of hindrances. This huge corporation still has a lot to consider but I also believe that they could possibly do their plans in time.

AicecreaME

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Quote from: sikke on October 06, 2021, 06:14:42 PM

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.

RealMalatesta

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Quote from: avikz on October 01, 2021, 12:53:24 PM

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.

crzy

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Quote from: AicecreaME on October 08, 2021, 10:46:18 AM

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.

Fortify

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Quote from: sikke on October 06, 2021, 06:14:42 PM

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.

AicecreaME

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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.

Silberman

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Quote from: dbc23 on October 01, 2021, 02:09:14 PM

Quote from: avikz on October 01, 2021, 12:53:24 PM

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

Quote

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.

imstillthebest

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Quote from: cafucafucafu on October 07, 2021, 03:36:08 AM

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 .

Topic: $2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling (Read 328 times)