M&A

Bally’s completes Monkey Knight Fight acquisition

| By Robert Fletcher
Bally’s Corporation has finalised its acquisition of US daily fantasy sports (DFS) operator Monkey Knife Fight.

Agreed in January, the all-stock acquisition makes Bally’s only the third sports betting operator in the US to have a fantasy sports segment.

The original agreement stated Monkey Knife Fight would receive immediately exercisable penny warrants to purchase approximately $50m in Bally’s common shares at closing.

The DFS brand would also receive contingent penny warrants to purchase up to approximately $20m in additional shares on the first and second anniversaries of the deal closing, for a possible total of up to $40m.

Monkey Knife Fight has approximately 200,000 registered users and 90,000 depositing players, with a presence in 37 US states, Washinton DC and also in Canada.

Read the full story on iGB North America.

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