Bally’s Buy Into Online Sports Betting Platform Provider

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12/02/2020
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One of the favorite and leading New Jersey casino brands, Bally’s, is looking into securing their slice of the Garden State’s online sports betting pie. After recently completing their take over by the Rhode Island–based Twin River Holdings Group, the casino group has reportedly struck a deal with U.S. regional media giants Sinclair Broadcasting and has also reached a $125 million deal to buy Bet.Works.

Bet.Works is a sports betting and online gaming platform provider that currently powers theScore Bet sportsbook site. According to industry insiders, Bally’s should have their New Jersey online sportsbook up-and-running by June 2021.

Bally’s to reorganize its Corporate Structure following the Bet.Works deal

Immediately following the announcement of purchasing their new online sports betting platform provider, Bally’s announced plans to separate their operations into two separate entities; an online division (Bally’s Interactive) and a land-based division (Bally’s Casinos). Founder and Chief Executive Officer of Bet.Works, David Wang has taken it upon himself to head up the Bally’s Interactive division.

The acquisition is clearly a sign of Bally’s strategy to make inroads into the online sportsbook and online casino sector.

Currently, Bet.Works has around 14 million active customers. The integration with the long-time casino company will allow Bally’s to approach those clients through a unified brand across both land-based casinos and interactive casino gaming and sports betting.

While that integration takes place, Bally’s is continuing in its process of acquiring four casinos across four different states at a total price of $755 million. With the finalization of that deal, the Bally’s Group will then operate 14 casinos across 10 states, with the majority of those to be rebranded as Bally’s properties.

President and Chief Executive Officer of Bally’s Corporation, George Papanier spoke enthusiastically of the deal: “We are very excited to welcome Bet.Works to the Bally’s family. Owning Bet.Works’ superior technology platform will not only give Bally’s a long-term margin advantage online, but, more importantly, will also allow us to evolve our interactive product suite to go where sports betting and i-gaming customers are headed quickly.”

“David Wang and his team at Bet.Works have already demonstrated impressive growth and the ability to execute while creating a differentiated platform. We are very pleased to bring this technology to our more than 14 million active customers who will experience Bally’s Casinos and Bally’s Interactive as a unified brand with a single player card and rewards system.”

Wang will head up Bally’s Interactive to integrate Bet.Works’ team of over 130 experienced employees across three offices, including approximately 90 software engineers. Part of the online gaming business strategy will see Bally’s Interactive establishing a technology development center in Rhode Island by the end of 2021, with 25 employees on the payroll from Day 1.

Wang announced: “We are pleased to be joining the Bally’s family, which has demonstrated a remarkable track record of growth and diversification with a proven management team. We remain committed to creating the world’s best sports entertainment products, as well as delivering innovative and exciting solutions for sports betting and i-gaming consumers across Bally’s national footprint.

“Bet.Works will continue to offer our best in class solutions to our existing B2B clients and our future partners in the US market as we expand our reach into newly regulated states. Our turnkey solutions, which include marketing, operations, customer service, risk management and compliance, combined with our dedicated launch teams, will ensure we maintain a leading position in the B2B sector while powering Bally’s Interactive. Bally’s is the perfect home for Bet.Works as it will allow us to continue to grow and innovate.”
Currently, Bet.Works is active in New Jersey, Iowa, Indiana and Colorado and in addition to theScore Bet, also supplies platform services to Elite Sportsbook.

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