Last updated: October 06, 2023
One of the most acquisitive companies in the gaming industry has continued its trend of acquiring deals within the sports wagering world. The latest deal with Adam Silver has the NBA sports betting partnership going Bally Up!
Bally’s Corp is the authorized sports betting operator for the NBA. The terms of the agreement haven’t been disclosed, but it is reported that the deal is relatively typical in terms of professional sports and gambling companies.
The deal Bally’s struck with the NBA is the second major sports league partnership for the company in less than a month. Its been a strong start to 2021 for the company after reaching a similar deal with the NHL.
Now holding high-level partnerships with two of the four major sports leagues in the USA, analysts show enthusiasm for Bally’s and their ongoing attempts to boost their sports betting product.
Ongoing momentum with pro sports promotes Bally’s clear mindset to become a heavyweight in the internet casino and online sportsbook industry, said CEO George Papanier.
Before their recent acquisitions, Bally’s was seen as a minor player in the USA sports gambling market. The recent deals show signs that this regional gaming company is changing its complexion.
In November 2020, Bally’s acquired sports betting platform provider Bet.Works for $125 million. The deal allows the company to position its vertically integrated, which is not typical among the sports betting industry.
Following the Bet.Works deal, Bally’s went on to acquire two more properties, with the first being Monkey Knife Fight – a daily fantasy sports firm and the second being the free-to-play games platform SportCaller.
“As we look across the broader sports betting and iGaming landscape, we think management has put together some of the more compelling strategies,” said Steven Wieczynski, an analyst from Stifel who was supportive of Bally’s management direction.
There has been no specific mention of a date for commencement of the agreement between the NBA and Bally’s.
The recent NBA partnership synergizes with a broadcasting partnership Bally’s made with the Sinclair Broadcast Group. The deal landed in November last year meant that Bally’s committed to paying $85 million across the next ten years to display its name on 21 regional sports networks.
Nineteen of the regional sports networks owned by Sinclair Broadcast Group account for more than half of the US NBA teams.
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