Bally's Corporation and the WNBA's Phoenix Mercury Announce Groundbreaking Partnership

Rhea-AI Summary

Bally's Corporation (NYSE: BALY) announced a landmark partnership with the Phoenix Mercury, a key member of the WNBA, marking the first gaming access deal with a professional women's sports team. Starting July 1, 2021, Bally's becomes the exclusive sports betting partner, enabling online and mobile sports betting in Arizona, alongside a retail sportsbook near the Phoenix Suns Arena. This 15-year agreement reflects a commitment to diversity, equity, and inclusion, enhancing fan engagement and promoting women's sports.

Positive

• First gaming access deal with a professional women's sports team.
• Exclusive sports betting partner designation for 15 years.
• Market access to Arizona, expanding Bally's footprint.
• Plans for online and mobile sports betting services in Arizona.

Negative

• None.

PROVIDENCE, R.I., June 30, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) and Phoenix Mercury Basketball, LLC (the "Phoenix Mercury"), a 25-year member of the Women's National Basketball Association (the "WNBA"), today announced entry into a significant, purpose-driven team sponsorship and sports betting partnership. This groundbreaking agreement marks the first gaming access deal with a professional women's sports team providing Bally's with market access to its 15^th state.

Under the agreement, Bally's receives official designation as the exclusive sports betting partner of the Phoenix Mercury over 15 years beginning July 1, 2021. Upon the Phoenix Mercury's receipt of a mobile sports betting license from the Arizona Dept. of Gaming, Bally's will, among other things, host and manage an online and mobile sports betting service in Arizona, operate a retail sportsbook in the vicinity of the Phoenix Suns Arena, and promote its business in connection with Phoenix Mercury games.

"On behalf of the entire Bally's Corporation, we are honored to be a part of such an important milestone in the history of women's sports," said Soo Kim, Chairman of Bally's Corporation's Board of Directors. "Maintaining and implementing a strong diversity, equity and inclusion program is a cornerstone of Bally's operational values, and we look forward to promoting those values as part of our sponsorship with the Phoenix Mercury and hope that other major corporations follow in our footsteps. We are also excited about the prospect of providing sports fans in Arizona with access to our first-in-class online sports betting platform, and enhancing the way that they engage with their favorite sports pastimes."

Jason Rowley, CEO & President of the Phoenix Mercury, said, "We are very excited to partner with Bally's on this enormous step forward in the advancement of women's sports. This agreement represents so much more than a team sponsorship; it is a reflection of our shared values and commitment to investing in diversity, equity and inclusion. We could not think of a better way to celebrate the Mercury's 25^th year in the WNBA, and what many consider to be the model franchise."

As part of this agreement, Bally's will also become a member of the "Phoenix Mercury Changemaker Partners" – a distinguished group of companies that value diversity, equity and inclusion, and back their commitment with an investment in women's sports at the highest level. Other members of the Mercury's roster of "Changemaker Partners" include Fry's Food Stores, PayPal and Verizon.

Rowley continued, "Bally's and the Phoenix Mercury strongly believe that a groundbreaking partnership of this magnitude accelerates the momentum surrounding women's sports, creates a bigger platform for the Mercury, while delivering fan engagement on an unprecedented scale in women's sports."

About Bally's Corporation

Bally's Corporation is a leading regional casino-entertainment company with a growing omni-channel presence of online sports betting and iGaming offerings in the US. It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 14 states. It also owns Bet.Works, a first-in-class B2B2C sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, and SportCaller, a leading global B2B free-to-play game provider.

With more than 6,000 employees, the Company's operations, pro forma for pending acquisitions, include 15,558 slot machines, 465 table games and 5,355 hotel rooms. Upon closing the previously announced Tropicana Las Vegas (Las Vegas, NV) transaction, as well as completing the construction of a land-based casino near the Nittany Mall in State College, PA, Bally's will own and manage 16 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY".

About the Phoenix Mercury

One of the WNBA's three remaining original franchises from the league's inaugural season in 1997, the Phoenix Mercury celebrate their 25^th season this summer.  With three championships, 15 playoff appearances, 29 All-Stars and 400+ regular season wins in the franchise's storied history, the Mercury have been owned and operated by the same organization since inception. The 2020 Tokyo Olympic-bound trio of Diana Taurasi, Brittney Griner and Skylar Diggins-Smith lead the Mercury in its campaign to claim a WNBA-record tying fourth championship this season.

Cautionary Note Regarding Forward-Looking Statements

This document includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts, and include statements about Bally's plans, objectives, expectations and intentions.

Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally's current expectations and assumptions. Although Bally's believes that its expectations and assumptions are reasonable at this time, they should not be regarded as representations that Bally's expectations will be achieved. Actual results may vary materially. Forward-looking statements speak only as of the time of this document and Bally's does not undertake to update or revise them as more information becomes available, except as required by law.

Important factors beyond those that apply to most businesses, some of which are beyond Bally's control, that could cause actual results to differ materially from our expectations and assumptions include, without limitation:

• uncertainties surrounding the COVID-19 pandemic, including limitations on Bally's operations, increased costs, changes in customer attitudes, impact on Bally's employees and the ongoing impact of COVID-19 on general economic conditions;
• unexpected costs, difficulties integrating and other events impacting Bally's recently completed and proposed acquisitions and Bally's ability to realize anticipated benefits;
• risks associated with Bally's rapid growth, including those affecting customer and employee retention, integration and controls;
• risks associated with the impact of the digitalization of gaming on Bally's casino operations, Bally's expansion into iGaming and sports betting and the highly competitive and rapidly changing aspects of Bally's new interactive businesses generally;
• the very substantial regulatory restrictions applicable to Bally's, including costs of compliance;
• restrictions and limitations in agreements governing Bally's debt could significantly affect Bally's ability to operate our business and our liquidity; and
• other risks identified in Part I. Item 1A. "Risk Factors" of Bally's Annual Report on Form 10–K for the fiscal year ended December 31, 2020 as filed with SEC on March 10, 2021 and other filings with the SEC.

The foregoing list of important factors is not exclusive and does not include matters like changes in general economic conditions that affect substantially all gaming businesses.

You should not place undue reliance on Bally's forward-looking statements.

Investor Contact

Robert Lavan
Senior Vice President – Finance and Investor Relations
401-475-8564
InvestorRelations@twinriver.com

Media Contact

Richard Goldman / David Gill
Kekst CNC
646-847-6102 / 917-842-5384
BallysMediaInquiries@kekstcnc.com

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SOURCE Bally's Corporation; Phoenix Mercury Basketball, LLC

FAQ

What is Bally's partnership with the Phoenix Mercury?

Bally's Corporation has entered into a 15-year partnership with the Phoenix Mercury to become their exclusive sports betting partner, allowing mobile and online sports betting in Arizona.

When does Bally's partnership with the Phoenix Mercury start?

The partnership officially begins on July 1, 2021.

What does the partnership between Bally's and the Phoenix Mercury include?

The partnership includes hosting an online and mobile sports betting service in Arizona and operating a retail sportsbook near the Phoenix Suns Arena.

How does this partnership affect Bally's market presence?

This partnership marks Bally's 15th state of market access, significantly broadening its sports betting operations.