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Bally's Corporation

Bally’s Corporation Joins Responsible Online Gaming Association to Advance RG Best Practices

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The Responsible Online Gaming Association (ROGA), an independent trade association advancing the industry’s commitment to promote responsible online gaming, announced that Bally’s Corporation (Bally’s) is joining the Association in support of ROGA’s mission to enhance responsible gaming (RG) initiatives and best practices and empower consumers to make informed decisions about their online play.

Bally’s will work in collaboration with ROGA’s existing members – bet365, BetMGM, DraftKings, Fanatics Betting and Gaming, FanDuel, Hard Rock Digital, and PENN Entertainment – to promote responsible online gaming, fund independent peer-reviewed research, develop evidence-based responsible gaming best practices, and drive consumer education and awareness.

“We are thrilled to welcome Bally’s to ROGA—further demonstrating the collaborative effort of the iGaming and online sports betting industry to keep all forms of online gaming entertaining and fun for every American. Bringing on additional operators fulfills ROGA’s commitment to industry-wide collaboration, and I am encouraged and excited for the future of responsible gaming as we work together to enhance consumer protections and collectively amplify RG education efforts,” Dr. Jennifer Shatley, executive director of ROGA, said.

“We are proud to join the Responsible Online Gaming Association alongside some of the industry’s leading companies. At Bally’s, we are committed to promoting responsible gaming and empowering our customers to make informed decisions about their online play. By collaborating with ROGA and its members, we can enhance responsible gaming initiatives, fund research, develop best practices, and educate consumers. Together, we will strive to create a safer and more enjoyable online gaming environment for all,” Robeson Reeves, Chief Executive Officer of Bally’s Corporation, said.

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ROGA’s members have dedicated more than $20 million in support of ROGA’s mission, centered around five core pillars: research, consumer and industry education and awareness, promoting best practices, an independent data clearinghouse, and an independent certification program.

Ushering in unprecedented industry collaboration in support of promoting RG, the Association is currently working towards developing several impactful initiatives to support ROGA’s core mission.

Bally's Corporation

Bally’s Appoints New Executive VP and Chief Financial Officer

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Bally’s Corporation announced that Mira Mircheva has been appointed as Executive Vice President (EVP) and Chief Financial Officer (CFO), subject to regulatory approvals. Marcus Glover, Bally’s current CFO, has been appointed to serve as Bally’s Executive Vice President, Global Operations Group.

Ms. Mircheva is a senior executive in the hospitality and gaming industry with more than 25 years of experience in finance. Most recently, Ms. Mircheva served as Chief Financial Officer of The Queen Casino & Entertainment. Prior to that, she was Partner & Research Analyst at Standard General. Ms. Mircheva was previously a Senior Research Analyst at Perella Weinberg Partners Asset Management. Before that, Ms. Mircheva worked as a Vice President in credit principal investing at Goldman Sachs. She joined the Goldman Sachs Investment Banking Division as an analyst in 2001. She is currently a member of the Board of Directors of White Energy and Intralot S.A.

“On behalf of the Board of Directors and the entire leadership team, I am thrilled to welcome Mira to Bally’s. She brings considerable experience to this role and her experience as CFO of The Queen Casino & Entertainment will be invaluable as we integrate Queen into Bally’s,” Robeson Reeves, CEO of Bally’s, said.

“Mira’s experience as a CFO and strong financial acumen and operational experience make her the right person to help Bally’s continue to grow and achieve our long-term financial goals,” Soo Kim, Chairman of Bally’s Board of Directors, said.

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“I am thrilled to be joining Bally’s at such an exciting time for the Company and to leverage my experience with Queen to continue to strengthen our financial position by optimizing our cost structure, enhancing the efficiency of our operations and leveraging the collective experience of our Board and my newest colleagues across the globe,” Ms. Mircheva, Bally’s incoming EVP and CFO, said.

The post Bally’s Appoints New Executive VP and Chief Financial Officer appeared first on Gaming and Gambling Industry in the Americas.

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Bally's Corporation

Bally’s Completes Transactions with Standard General

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Bally’s Corporation has completed the previously announced transactions with Standard General and its affiliates including The Queen Casino & Entertainment, a regional casino operator majority-owned by funds managed by Standard General.

Pursuant to the terms of the merger agreement, Bally’s and Queen combined, with Queen shareholders receiving consideration of 30.5 million shares. Thereafter, the Company paid cash consideration of $18.25 per share to holders of 22.8 million of the Company’s outstanding shares. The cash merger consideration was financed by the issuance of $500 million in senior secured notes due in 2028 provided exclusively by funds managed by Apollo, along with Bally’s available funds on hand and its available funding sources.

Bally’s stockholders owning 17.9 million outstanding shares elected to retain their Bally’s stock by means of a rollover election and continue as stockholders of Bally’s. As a result, 48.4 million shares of common stock are now outstanding upon completion of the merger transactions. Warrants representing the right to purchase up to 11.6 million shares of Bally’s common stock also remain outstanding.

Shares of Bally’s common stock trading under the “BALY.T” ticker which remain outstanding as a result of the rollover election will continue trading on the New York Stock Exchange and revert back to the “BALY” ticker.

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The post Bally’s Completes Transactions with Standard General appeared first on Gaming and Gambling Industry in the Americas.

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Bally Bet Sportsbook app

Bally’s Interactive Launches Bally Bet Sportsbook App in Tennessee

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland.

Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.

The newly introduced Parlay Zone, available on the app’s homepage, allows users to select and customize daily pre-built parlays from a variety of popular sporting events. Additionally, users can access the Picks tab on the homepage to gain valuable insights from industry-leading influencers through video clips. Picks, powered by Wager Games, also offers an extensive selection of pre-built and customizable parlays, ensuring a personalized and engaging betting experience.

As an official sports betting partner of the Nashville Predators, Bally Bet has actively engaged with the team’s fan base running social promotions like the “Goals for Gear” official Predators jersey giveaway on the @BallyBet Instagram channel, Bally Bet has fostered a strong connection with the Predators’ loyal supporters. With the app’s launch, fans can anticipate even more exciting in-arena and social activations throughout the NHL season.

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