$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.

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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.

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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.

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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 .

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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.

iv4n

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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.

Sterbens

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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

~

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.

Kong Hey Pakboy

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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.

Dread Pirate Roberts

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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

~

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.

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!

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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).

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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.

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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 (Read 328 times)