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Bally's Corporation

STAKELOGIC LIVE INKS MULTI-YEAR LIVE DEALER AGREEMENT WITH BALLY’S CORPORATION

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Stakelogic Live, a leading live casino supplier, today announced a strategic partnership with Bally’s Corporation .

This partnership comes in the wake of the Rhode Island iGaming bill that was passed on June 22, 2023, broadening Bally’s Corporation’s casino operations in the state to encompass iGaming.

As an integral part of this partnership, Bally’s Corporation will adopt Stakelogic Live’s pioneering software and studio technology, complemented by its operational expertise, to establish their live casino in North America. Bally’s anticipates the launch of popular online live casino games like Blackjack, Roulette, and Baccarat in Rhode Island by April 2024.

Stakelogic, one of the emerging luminaries in the iGaming sphere, is operational in over 20 markets. The company runs two live casino studios in Europe, boasts a portfolio of over 250+ slot games, along with avant-garde live dealer technology.

Stephan van den Oetelaar, CEO Stakelogic said, “We are very excited about our partnership with Bally’s as it will finally enable Stakelogic Live to bring its technology to the U.S. It will also enable us to build on our tremendous growth since launching live casino 14 months ago, positioning Stakelogic Live as a leading live casino provider in the iGaming industry.”

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Robeson Reeves, CEO of Bally’s Corporation, said, “We are thrilled to partner with Stakelogic Live to bring our live casino operations online in Rhode Island. With a partner like Stakelogic Live, we know we are putting our best foot forward, and we are confident that we will be able to provide our Rhode Island customers with a truly exciting live dealer experience.”

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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