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.