"New Bally's" Stepping up Their Legal Sports Betting Game

Bally's, one of the more recognizable betting brands in the US has had quite a week with respect to their desires to become a legal sport betting Heavyweight in the ever-expanding US market. In the last week, the company acquired a sports betting platform supplier Bet.Works in a $125 million deal and now comes word of an $85 million, 10-year agreement with Sinclair Broadcast Group to rebrand all 21 of their Fox Regional Sports Networks to Bally’s Sports.

“This arrangement represents an opportunity to revolutionize the US sports betting, gaming, and media industries,” said Bally’s chairman Soo Kim. “Sinclair, with its broad holdings of stations, channels and RSNs [Regional Sports Network], provides immediate, national brand recognition that will support the development of Bally’s player database for both our traditional casinos as well as our future online offerings, and ultimately deliver significant shareholder value."

Bally’s Gain

Bally's exposure in the legal sports betting industry is about to increase dramatically with the Sinclair deal. "Bally's will integrate content into the 190 television stations that Sinclair owns, operates, or provides services to across 88 markets and its sports networks." Sinclair’s 21 Fox regional sports networks, which will be rebranded with the Bally’s name and 190 TV stations are about to promote Bally's products and create what Bally's calls “unrivaled sports gamification content on a national scale.”

It is all about creating a more interactive and complete gambling experience. Bally's now has a strong media arm thanks to their deal with Sinclair, a strong mobile wing thanks to their Bet.Works acquisition and obviously a huge retail arm.

In a press release by both of the Companies involved they expressed their excitement to “jointly market, design and integrate products on a state-by-state basis, and deliver one-of-a-kind online gaming experiences to local audiences,”

Chris Ripley, Sinclair’s president and CEO, said of the deal: “Bally’s, with its strong brand name, premier sportsbook technology platform and expansive market access, is the perfect partner. By integrating gamification elements that allow audiences a more personalized and interactive game experience, consumers of live sports in the future can look forward to a more dynamic and engaging sports viewing experience.”

Sinclair has broadcasting rights for more than half of the U.S. MLB, NBA and NHL teams in roughly two-dozen states. Bally's now owns those rights.

The Evolution of Gambling Company/Media Partnerships

The legal sports betting industry in the US keeps evolving. The latest iteration of that evolution is the relationship betting providers are forging with media companies in order to increase their profile going forward and to provide customers with as unique and experience as possible.

The Bally's/Sinclair relationship follows CBS/William Hill, Barstool Sports/Penn National, NBC/PointsBet, ESPN/Caesars and VSiN/BetMGM as partnerships aimed at furthering the mainstreaming of legal betting and ultimately boosting the brands in the increasingly competitive sports betting space.

Bally's new media relationship should act to fill a hole that other top-notch providers already have.

The Evolution of Sport?

Sports betting has moved to a more entertainment-focus with its perforation into mainstream broadcasting. It is all about trying to absolutely maximize a spectator’s experience. That is why it is so important for betting providers to have a relationship with media brands who have a built-in relationship with sports teams.

“People don’t just do sports passively — betting is a huge part of the entertainment industry’s revenue,” said Karryl B. Leggio, professor of finance at Loyola University Maryland’s Sellinger School of Business. Commenting on the Bally's/Sinclair deal, she said: “This is a good deal for both companies.”

New Bally’s

New Bally’s will have 14 casinos under its umbrella, boasting fully equipped, top-tier mobile platforms across 10 states once all pending transactions are completed. Bet.Works gives them a “suite of advanced omni-channel products…. that will enable it to deliver unrivaled sports betting and iGaming offerings to customers on a national scale,” according to Bally’s in a statement and the Sinclair deal gives the Company incredible exposure right off the bat.

It has been a good week for “New Bally’s” as they work their way into elite company within the legal sports betting industry. With two moves in one week, they have announced that they are ready to be a player in the rapidly growing US sports betting space.