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Bloomberg
29 minutes ago
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Bally's Sells Interactive Casino Unit to Intralot in $3.2 Billion Deal
Bally's Corp. is selling its interactive casino business to Intralot SA in a deal that values the business at €2.7 billion (US $3.2 billion). The division, formally known as Gamesys, will be part of a combined company with about €1.1 billion of revenue, 60% of that from the UK, according to a statement Tuesday. Bally's Chief Executive Officer Robeson Reeves will become CEO of the new business.


Forbes
39 minutes ago
- Forbes
Glenfiddich Owners William Grant & Sons Acquire Famous Grouse
The iconic Scotch whisky brand - Scotland's bestselling whisky - has now been acquired by family ... More firm William Grant & Sons. Following a number of regulatory approvals including from the UK Competition & Markets Authority, Scotch whisky titans and family firm William Grant & Sons has officially acquired two well-known whisky brands—The Famous Grouse and Naked Malt. Though for months the acquisition was an open secret within the industry, it was officially announced today (July 1st) and marks a significant addition to the company's iconic stable of Scotch whisky brands and distilleries which includes names like Glenfiddich, Balvenie, Monkey Shoulder, and many more. The purchase sees the brands transferred from previous owners Edrington, who own the Macallan and Highland Park distilleries, amongst others. According to The Northern Scot, Edrington had announced the agreement last year in September, as the company wanting to focus further on 'ultra-premium spirits'. William Grant & Sons' addition of Famous Grouse and Naked Malt further strengthens its offering in the Scotch blends where Famous Grouse has long been a leader—it's the bestselling whisky in Scotland. Soren Hagh, the recently appointed chief executive of William Grant & Sons, expressed his enthusiasm for the acquisition in the official press announcement: 'I am delighted to complete this acquisition and welcome The Famous Grouse into our portfolio. It is a remarkable Scottish brand with rich history and a strong market position in a number of countries. Over the coming years, we will build on this strong foundation and work to evolve the brand into a true global icon. We also see a lot of potential in Naked Malt, which will be a great addition to our portfolio. Together, these brands perfectly complement our vision for growth, and we look forward to investing in their future and sharing their stories with whisky lovers around the world.' The deal concludes several months of negotiation and transition planning between William Grant & Sons and Edrington, the Glasgow-based company that had owned Famous Grouse since the 19th century. While Edrington has been shifting focus toward premium single malts like The Macallan and Highland Park, Famous Grouse had remained a key revenue generator in its portfolio. According to industry coverage the acquisition includes both the brands and their associated inventory (including spinoff brands such as Famous Grouse Smoky Black, Sherry Cask Finish, and others) are now fully under WG&S control, though exact production arrangements haven't been revealed. It's likely that existing contracts and bottling facilities will stay in place for now. First launched in 1896, Famous Grouse is the creation of grocer Matthew Gloag III from Perthshire and has been Scotland's bestselling whisky since 1980. It also holds a Royal Warrant, which was renewed by King Charles III in December 2024, and exports to over 100 countries. Naked Malt was first launched as the Naked Grouse in 2011 before becoming a standalone brand in 2017 and then renamed in 2021. This one is a blended malt whisky aged in first-fill sherry casks that's proven to be a particular hit in Asian markets. With the acquisition of both brands, William Grant & Sons strengthens its hand in the blended market - this is particularly interesting as so many other whisky companies, such as Edrington, focus on going premium these days. In any case, consumers won't see any significant changes for the moment with the shift in ownership, but it will certainly be interesting to see what comes next for such an iconic whisky brand like Famous Grouse.

Wall Street Journal
an hour ago
- Wall Street Journal
Sabadell Seeks Shareholder Approval of Nearly $4 Billion Sale of U.K. Unit to Santander
The board of Banco de Sabadell SAB -0.04%decrease; red down pointing triangle is asking the company's shareholders to approve a roughly $4 billion sale of its British subsidiary TSB to Spanish peer Banco Santander SAN -0.88%decrease; red down pointing triangle. Sabadell said Tuesday that the bid carries an all-cash price tag of 2.65 billion British pounds ($3.46 billion). The final price is expected to rise to £2.9 billion, when including profits that are projected to flow in through the transaction's estimated completion in the first quarter of next year.