Ballys Corp (NYSE:BALY)
$ 17.78 -0.16 (-0.89%) Market Cap: 723.06 Mil Enterprise Value: 5.58 Bil PE Ratio: 0 PB Ratio: 3.10 GF Score: 80/100
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Bally's Corp And Gamesys Group plc Announce Definitive Terms Of Combination -M&A Call Transcript

Apr 13, 2021 / 04:00PM GMT
Release Date Price: $54.3 (-10.69%)
John Perry

Welcome, everybody, and thank you for joining the Balley's Corporation investor presentation. This is John Perry from Deutsche Bank. And with me on the line are Soo Kim, Balley's Chairman and Lee Fenton, current CEO of Gamesys and the anticipated CEO of Balley's upon the completion of the proposed merger of the 2 companies.

Now before I turn it over to Soo Lee, I just want to provide a quick overview of the transaction. Page 5 of the presentation provides a summary of the business combination. Gamesys shareholders will be entitled to receive 0.1850p in cash for each share held. A share alternative will also be available where by Gamesys shareholders can elect to receive 0.343 new Balley's common shares for each Gamesys share held in lieu of the cash offer. Approximately 33% of Gamesys shareholders have provided irrevocable support to the transaction with approximately 26% committing to roll their shares. Committed financing is in place to fund the cash offer and refinance Gamesys' existing debt. The maximum cash consideration based on the 26% of Gamesys rolling shareholders would be GBP 1.6

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