$2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling - page 3.

Hydrogen

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

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 merger plan is $2.7 billion.

Quote

The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.

Europe dominated the market in 2019 with market size of USD 22.0 billion.

https://www.grandviewresearch.com/industry-analysis/online-gambling-market

The above source claims the global market is $54.7 billion with europe having the largest online gambling market cap in the world at $22 billion. Which would mean the united states market is smaller than $22 billion.

Don't know if they can achieve an appreciable amount of penetration for US markets with $2.7 billion. The predictable move would be towards market consolidation and monopolization of some type. Similar to how coinbase and possibly paypal have been positioned to consolidate and monopolize US crypto purchasing.

I doubt this move will come with much in the way of innovation, there are already many crypto based casinos available. Legalized and deregulated gambling markets in europe and asia will likely emerge as industry frontrunners.

Fortify

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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?

It is good for the owners of these places and any shareholders, however it is usually bad news for the average person who plays at these sites. They tend to overpay during mergers and the supposed cost-savings turn out to be very little, that leads to cutbacks in the promotions. On top of that you have less diversification within the industry, so individuals are stuck if they ever have an issue with one provider because there are less options. However we as the little people are powerless to have any effect on such mergers and just have to accept it. It just goes to show how much money is floating around in this industry, it will barely make any dent on their profits in the long term.

avikz

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Quote from: AmoreJaz on October 02, 2021, 04:14:18 PM

Quote from: robelneo on October 02, 2021, 01:38:40 AM

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

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?

It'll be a piece of very good news and a big step for Cryptocurrency, if they integrate Cryptocurrency once they launch their online casino they will have huge support from the Cryptocurrency gambling community, it will be easy for them they are already a brand name in casino entertainment they should tap the Cryptocurrency industry because this is the future of online gambling, it's just a matter of time before the Cryptocurrency will have a unified regulation that's acceptable to all concern.

once they established their online casino, integrating crypto would be easier but they need to check the government regulations when it comes to crypto payments in casinos. but more then likely, they will be looking at this aspect of payment as it is gaining interest among gamblers. however, i believe they may require kyc here as they will first implement a fiat-based system. i don't think they will implement crypto payment first. so am assuming their online casino will require kyc even for crypto users (if in case they will add crypto payment).

Integration of cryptocurrencies is easier because this technology is commercially available. But the challenge here will be the permission from the local government. Also yes, KYC is anyways required for any casino so there will be no exception for their online platform as well. But considering the stringent regulations of US government against online casinos, I don't see a crypto based casino comkng out from this merger to be honest!

AmoreJaz

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Quote from: robelneo on October 02, 2021, 01:38:40 AM

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

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?

It'll be a piece of very good news and a big step for Cryptocurrency, if they integrate Cryptocurrency once they launch their online casino they will have huge support from the Cryptocurrency gambling community, it will be easy for them they are already a brand name in casino entertainment they should tap the Cryptocurrency industry because this is the future of online gambling, it's just a matter of time before the Cryptocurrency will have a unified regulation that's acceptable to all concern.

once they established their online casino, integrating crypto would be easier but they need to check the government regulations when it comes to crypto payments in casinos. but more then likely, they will be looking at this aspect of payment as it is gaining interest among gamblers. however, i believe they may require kyc here as they will first implement a fiat-based system. i don't think they will implement crypto payment first. so am assuming their online casino will require kyc even for crypto users (if in case they will add crypto payment).

tulusikhlas

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

Quote from: tulusikhlas on October 01, 2021, 01:44:33 PM

As far as I know, for crypto gambling, no one has applied to be included in the gambling list that they will give permission. So I think someone should give this initiative to be able to provide regulation of crypto gambling. Moreover, unregulated gambling results in the absence of a clear, more decentralized crypto base.

It's only a matter of time before this big companies chip in although I feel like we will have to wait a long time plus there's a lot of crypto gambling out there already, there's a huge saturation of companies already so it's going to be pretty difficult for them to get in.

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.

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

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?

It'll be a piece of very good news and a big step for Cryptocurrency, if they integrate Cryptocurrency once they launch their online casino they will have huge support from the Cryptocurrency gambling community, it will be easy for them they are already a brand name in casino entertainment they should tap the Cryptocurrency industry because this is the future of online gambling, it's just a matter of time before the Cryptocurrency will have a unified regulation that's acceptable to all concern.

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Quote from: tulusikhlas on October 01, 2021, 01:44:33 PM

As far as I know, for crypto gambling, no one has applied to be included in the gambling list that they will give permission. So I think someone should give this initiative to be able to provide regulation of crypto gambling. Moreover, unregulated gambling results in the absence of a clear, more decentralized crypto base.

It's only a matter of time before this big companies chip in although I feel like we will have to wait a long time plus there's a lot of crypto gambling out there already, there's a huge saturation of companies already so it's going to be pretty difficult for them to get in.

Wexnident

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Well I'd reckon crypto-related usage in the US would only take time before we actually receive updates on it. It's like they're still on the neutral side of things imo, pretty indecisive imo yes, but crypto is only a decade old after all, I'd reckon they're still testing the waters or something like that. Once Crypto adoption pops off, crypto casino developments really ain't that far off imo. Besides, gambling is indeed super regulated, but it isn't exactly banned or anything, heck it's actually a system where it's more controlled, leading to more positive developments imo.

Johnyz

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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.

madnessteat

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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.

dbc23

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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.

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.

tulusikhlas

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As far as I know, for crypto gambling, no one has applied to be included in the gambling list that they will give permission. So I think someone should give this initiative to be able to provide regulation of crypto gambling. Moreover, unregulated gambling results in the absence of a clear, more decentralized crypto base.

avikz

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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?

Topic: $2.7 billion merger - Bally's Corp and Gamesys - one of the biggest in gambling - page 3. (Read 342 times)