Bally

Bally’s Corporation Announces Partnership With Elite Casino Resorts To Launch Mobile Sportsbook In Iowa

Published

4 years ago

November 24, 2020

Bally’s Corporation, a premier, full-service company with physical casinos and soon to be vertically integrated with sports betting and iGaming in the U.S. with online gaming platforms united under a single, preeminent brand, announced today that it has entered into a multi-year market access partnership with Elite Casino Resorts (“Elite”). This partnership will allow sports fans in Iowa access to mobile sports betting licensed by Elite’s Grand Falls Casino and Golf Resort, located in Larchwood, Iowa.

This partnership follows Bally’s recently-announced agreement to acquire preeminent U.S. regulated sportsbook technology platform Bet.Works, which provides omni-channel products, platforms, software and content solutions to operators in multiple states, including Iowa.

With the ability to offer sports betting in Iowa, Bally’s national footprint will, once all pending acquisitions are completed, expand into its 11th state. Notably, Iowa represents the first state where Bally’s does not maintain a land-based casino and will establish its market presence through its online platform. The company generally prefers to enter a jurisdiction through an owned casino property, however, with how quickly the market is moving, entering through a market access agreement is a good solution and one that the company may use on occasion to ensure a comprehensive approach.

George Papanier, President and Chief Executive Officer of Bally’s Corporation said, “We are delighted to partner with Elite Casino Resorts in Iowa. We currently operate sportsbooks in Rhode Island, Colorado, Delaware, Mississippi, and soon will be in Atlantic City. Entering the Iowa gaming market with our new, integrated sports betting and iGaming company is very exciting and we look forward to the launch in 2021.”

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Bally

Twin River Worldwide Holdings To Become Bally’s Corporation

Published

4 years ago

October 30, 2020

GamingAmericas.com

Twin River Worldwide Holdings announced that, effective November 9, 2020, it will change its name to Bally’s Corporation. Reflecting this change, the Company’s common stock will commence trading on the New York Stock Exchange under the new ticker symbol “BALY” when trading opens on November 9, 2020.

Soo Kim, Chairman of the Company’s Board of Directors, said, “The Bally’s brand embodies a rich history in American gaming and entertainment, aligns perfectly with our current and future growth strategy, and is ripe with untapped innovation potential to help us launch future entertainment services. We thank Caesars Entertainment for entrusting us with one of the industry’s most iconic brands.”

Over the coming months, the Company will continue to implement a unified branding initiative, which complements the considerable geographic growth and operational improvements that the Company has achieved this past year. As a result of its disciplined portfolio diversification strategy, once all pending transactions are closed, the Company will operate 14 casinos, a racetrack and 13 OTBs across ten states. The Company’s rapidly growing footprint will allow it to serve over 80 million customers that reside within the markets of its 14 premier casinos. In addition, the customers in the Company’s database will increase to approximately 14 million players. After the closing of all announced acquisitions, the Company will have approximately 16,000 slot machines or VLTs, approximately 550 table games and over 3,900 hotel rooms.

George Papanier, President and Chief Executive Officer, commented, “This is an exciting and transformative moment for our Company as we unite the high-quality customer offerings that span our increasingly national footprint under a singular preeminent brand. The Bally’s brand is core to our drive to become the first omni-channel gaming company to seamlessly integrate and operate physical casinos with digital solutions. We remain committed to employing our disciplined acquisition strategy, and leveraging regulatory incumbency as well as our retail customer database, to take advantage of the incredible growth potential that an online future offers.”