$2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling - page 2.

slaman29

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

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.

uneng

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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.

hello_good_sir

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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.

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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.

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!

cafucafucafu

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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.

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Quote from: Hypnosis00 on October 07, 2021, 01:58:03 AM

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.

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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.

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?

Victorycoin

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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..

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Quote from: davis196 on October 07, 2021, 12:51:34 AM

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? Grin

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.

Hypnosis00

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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.

davis196

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Quote from: madnessteat on October 01, 2021, 02:33:15 PM

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? Grin

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.

CaVO32

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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.

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.

sikke

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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.

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Quote from: Sanugarid on October 06, 2021, 09:06:00 AM

Quote from: Johnyz on October 01, 2021, 05:36:47 PM

Cryptocurrency based casinos is really possible though it takes time and regulations might be hard for them since crypto is still not legal in US market, they still haven’t any final regulations with regards to this one. This merger is very timely, where most of the gamblers now prefer to play online, its about time for Ballys Corp. to adopt.

If gambling businesses are already in it, then there's always the possibility that we will be seeing bitcoin being favored by the government because they need to get the favor of the businesses too since they're lobbying.

Of course, all will refer to the policy basis provided by the government for every casino that wants to operate in the gambling business. They could easily add crypto as an alternative to betting. However, they are not necessarily able to have permission from the government where they will follow up transactions without crossing banks. In other words, the violation is a reward for carrying out transactions without any control from the government.

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Quote from: Dread Pirate Roberts on October 06, 2021, 06:33:00 AM

Quote from: zanezane on October 06, 2021, 05:10:06 AM

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As you call expansion in their business, especially the gambling industry, it seems that it will be more optimal if it is worldwide and has a wide range and convenience for their users. and integrating crypto into their system could be the answer to their expansion. it seems they are aware that any business must follow the trend that is popular in their business industry.

That could be a 50/50 move though as they're not a pioneer in the crypto gambling scene, they're going to be competing against the more established pioneering crypto gambling sites and it's going to be difficult for them to do it because crypto gamblers are somewhat loyal to the sites that they're playing in.

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Quote from: Johnyz on October 01, 2021, 05:36:47 PM

Cryptocurrency based casinos is really possible though it takes time and regulations might be hard for them since crypto is still not legal in US market, they still haven’t any final regulations with regards to this one. This merger is very timely, where most of the gamblers now prefer to play online, its about time for Ballys Corp. to adopt.

If gambling businesses are already in it, then there's always the possibility that we will be seeing bitcoin being favored by the government because they need to get the favor of the businesses too since they're lobbying.

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Quote from: Obito on October 06, 2021, 04:08:39 AM

They're the only one that will benefit from this, gambling industry is a big one so it's not really a big deal that they're doing a merger, unless it involves crypto or something remotely invooved with crypto then we might see it influence the cryptospace.

Don't be too pessimistic about it, maybe this merger meant that they're going to expand their horizons and that expansion might involve being into crypto gambling. We don't exactly know how the minds of this capitalists work so we should be expecting the unexpected.

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Quote from: zanezane on October 06, 2021, 05:10:06 AM

It's unlikely for them to do that unless they really want to, most fiat casinos have a lot of clients already, why would they do that anyways, it's not like they're going to be successful in that space as they are with what they're currently on, yes it's expansion but do you really have to leave your comfort zone.

As you call expansion in their business, especially the gambling industry, it seems that it will be more optimal if it is worldwide and has a wide range and convenience for their users. and integrating crypto into their system could be the answer to their expansion. it seems they are aware that any business must follow the trend that is popular in their business industry.

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Quote from: tulusikhlas on October 02, 2021, 01:14:42 PM

Quote from: zanezane on October 01, 2021, 11:41:37 PM

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Then if you can speculate maybe a casino that only accepts fiat bets, should open up space for crypto gambling in it. So that they don't just focus on fiat payments, they should provide crypto payments with a gambling system that remains the same. Maybe it can be done after the official approval by the government first, then open crypto gambling with a record that their casino has been included in a list protected by the government, according to the tax set.

It's unlikely for them to do that unless they really want to, most fiat casinos have a lot of clients already, why would they do that anyways, it's not like they're going to be successful in that space as they are with what they're currently on, yes it's expansion but do you really have to leave your comfort zone.

Obito

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They're the only one that will benefit from this, gambling industry is a big one so it's not really a big deal that they're doing a merger, unless it involves crypto or something remotely invooved with crypto then we might see it influence the cryptospace.

Topic: $2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling - page 2. (Read 328 times)