• Bally's Corp (NYSE: BALY) Board of Directors has increased its existing share repurchase authorization to $350 million of outstanding shares of common stock.

  • The company made this move given the closing of the Gamesys acquisition and its new $4.065 billion debt package.

  • Bally's also completed its previously announced combination with Gamesys Group plc, a UK-based online gaming operator.

  • With the transaction closing, former Gamesys CEO Lee Fenton will now serve as Bally's CEO.

  • Additionally, former Bally's CEO George Papanier will assume the role of President, Retail, for Bally's land-based casino business. Former Gamesys COO Robeson Reeves will take the role of President, Interactive.

  • Further, Fenton, Reeves, and Jim Ryan have been appointed to serve on Bally's Board.

  • Price Action: BALY shares are trading higher by 0.24% at $53.21 on the last check Monday.

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