Bally's Corporation Announces Agreement With Sinclair Broadcast Group To Collaborate On Programming Content On Recently Rebranded Regional Sports Networks And Other Platforms

Rhea-AI Summary

Bally's Corporation (NYSE: BALY) announced a memorandum of understanding (MOU) with Sinclair Broadcast Group (NASDAQ: SBGI) on April 12, 2021. This partnership will focus on producing and broadcasting Bally's content on Sinclair's 19 regional sports networks, now called Bally Sports. The collaboration aims to enhance live sports engagement through interactive programming and support the launch of the Bally Bet app, reducing reliance on advertising. Both companies will also explore additional programming opportunities across Sinclair's media platforms.

Positive

• Strategic partnership with Sinclair enhances content production for Bally Sports.
• Reduction in reliance on advertising could improve financial performance.
• Collaboration supports upcoming launch of Bally Bet app.

Negative

• None.

PROVIDENCE, R.I., April 12, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY), a leading U.S. omnichannel provider of land-based gaming and interactive entertainment, today announced entry into a memorandum of understanding ("MOU") with Sinclair Broadcast Group (NASDAQ: SBGI). Under the MOU, Bally's and Sinclair will work collectively to facilitate the production and broadcast of Bally's-produced content during the current non-game windows on Sinclair's 19 regional sports networks ("RSNs") recently rebranded "Bally Sports".

Bally's and Sinclair will also explore opportunities to include Bally's programming in Sinclair-owned media platforms and affiliates other than the Bally Sports RSNs, which may include Sinclair's Tennis Channel and Stadium assets. Bally's development of a wide range of live sporting content and other interactive programming will support the eventual launch of the Bally Bet app. It will also reduce the Company's reliance on advertising spend, though will have no impact on any contractual obligation that Bally's owes to Sinclair or Bally Sports.  

Soo Kim, Chairman of Bally's Corporation's Board of Directors, said, "We are pleased to further our transformative partnership with Sinclair by exploring opportunities for Bally's to produce new and engaging content and interactive programming. We continue to seek innovative ways to allow fans to further engage with the Bally's brand, and are confident that the engagement opportunities we will create will elevate the live viewing experience in a manner not seen before. The gamification of live sports is the next phase of interactive gaming, and we look forward to continuing to create lean-in experiences for sports fans across the nation as our content strategy continues to expand."

The Sinclair-owned and operated Bally Sports RSN portfolio includes the following 19 network brands: Bally Sports Arizona; Bally Sports Detroit; Bally Sports Florida; Bally Sports Great Lakes; Bally Sports Kansas City; Bally Sports Indiana; Bally Sports Midwest; Bally Sports New Orleans; Bally Sports North; Bally Sports Ohio; Bally Sports Oklahoma; Bally Sports San Diego; Bally Sports SoCal; Bally Sports South; Bally Sports Southeast; Bally Sports Southwest; Bally Sports Sun; Bally Sports West; and, Bally Sports Wisconsin.

About Bally's Corporation

Bally's Corporation currently owns and manages 12 casinos across eight states, a horse racetrack and 13 authorized OTB licenses in Colorado. With more than 6,000 employees, the Company's operations include 13,308 slot machines, 460 game tables and 3,342 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN) and Jumer's Casino & Hotel (Rock Island, IL), as well as the construction of a land-based casino near the Nittany Mall in State College, PA, Bally's will own and manage 15 casinos across 11 states. Bally's also maintains a multi-year market access partnership with Elite Casino Resorts through which it will provide mobile sports betting in Iowa, as well as a temporary sports wagering permit to conduct online sports betting in the Commonwealth of Virginia. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY."

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, 2019 as filed with SEC on March 13, 2020 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 to place undue reliance on Bally's forward-looking statements.

Investor Contact

Steve Capp
Executive Vice President and Chief Financial Officer
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

FAQ

What is Bally's recent partnership with Sinclair Broadcast Group?

Bally's Corporation entered a memorandum of understanding with Sinclair to produce content for its regional sports networks.

How will the partnership with Sinclair affect Bally's advertising strategy?

The partnership aims to reduce Bally's reliance on advertising spend through enhanced content production.

What are the key networks involved in Bally's partnership with Sinclair?

The collaboration includes Sinclair's 19 regional sports networks, recently rebranded as Bally Sports.

When was Bally's partnership with Sinclair Broadcast Group announced?

The partnership was announced on April 12, 2021.

What is the ticker symbol for Bally's Corporation?

Bally's Corporation trades under the ticker symbol BALY.