Bally’s Corporation and Hunt Valley, Md. based Sinclair Broadcast Group, Inc. announced that they have entered into agreements for a long-term strategic partnership that combines Bally’s sports betting technology and expansive market access footprint with Sinclair’s portfolio of local broadcast stations, live regional sports networks and more.
According to the announcement, Bally’s and Sinclair will partner “to create unrivaled sports gamification content on a national scale, positioning Bally’s as the premier omni-channel gaming company with physical casinos and online sports betting and iGaming solutions united under a single brand.”
The transaction is expected to position Bally’s to capture a significant share of the fast-growing U.S. sports betting and iGaming market.
This marks a major milestone for Sinclair’s businesses, setting the stage for further gamification of live sports that will provide audiences a first-of-its-kind interactive viewing experience.
“This arrangement represents an opportunity to revolutionize the U.S. sports betting, gaming and media industries,” said Soo Kim, Chairman of Bally’s Corporation’s Board of Directors. “Sinclair, with its broad holdings of stations, channels and regional sports networks, 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. We look forward to integrating our first-in-class, omni-channel sports betting and iGaming offerings with Sinclair’s expansive broadcast network to create a more engaging and tailored experience for sports fans, positioning Bally’s to become one of the top U.S. sports betting and iGaming operators.”
Chris Ripley, President and CEO of Sinclair, commented, “Since acquiring Tennis Channel a few years ago and the regional sports networks last year, we have been working on developing an innovative experience that changes the way people think about and view live sports across all our platforms. Bally’s, with its strong brand name, premier sportsbook technology platform and expansive market access, is the perfect partner to help us change the paradigm of sports viewing across all our assets. 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. With the U.S. sports betting and iGaming market expected to ultimately reach ~$50 billion at maturity, this partnership perfectly positions our sports portfolio to fully capitalize on changing audience behavior.”