Bally's Corporation Awarded Online Sports Betting License In New York
Bally's Corporation (NYSE: BALY) has been awarded one of nine licenses to operate online sports betting in New York, expanding its market presence. This strategic move enables Bally's to tap into a large fan base and showcase its sports betting platform. The company aims to enhance its omni-channel gaming services and plans to operate in 16 states post-acquisitions. Chairman Soo Kim expressed optimism about serving New York's sports fans. Bally's currently owns 14 casinos and employs around 10,000 people, highlighting its growing stature in the gaming industry.
- Awarded one of nine licenses for online sports betting in New York.
- Expands market presence into 16 states upon completing pending acquisitions.
- Strategic entry into a lucrative market with a large fan base.
- None.
PROVIDENCE, R.I., Nov. 8, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) today announced that it has been awarded one of nine licenses to conduct online sports betting in the State of New York. With New York's major professional sports franchises consisting of some of the most storied teams in all of sports, as well as a diverse base of devoted sports fans, this license provides Bally's with significant opportunities to showcase its best-in-class sports betting platform and augment its player database.
Soo Kim, Chairman of Bally's Corporation's Board of Directors, said, "Bally's is pleased to have been awarded an online sports betting license from the State of New York -- the most populous state to enable OSB -- and would like to thank the New York State Gaming Commission for including Bally's in this exciting endeavor. This license advances our overall market footprint and marks the latest milestone on our journey towards becoming the leading omni-channel gaming provider in the U.S. Above all, we look forward to providing New York's devoted fan base with engaging, best-in-class, sports betting experiences."
The announcement marks Bally's entry into the attractive New York gaming market, expanding the Company's national presence into 16 states once all pending acquisitions are completed, including AZ, CO, DE, IL, IA, IN, KS, LA, MO, MS, NJ, NY, NV, PA, RI, and VA. Such market access and licensure are subject to legalization and required approvals by regulatory authorities in each jurisdiction.
About Bally's Corporation
Bally's Corporation is a global casino-entertainment company with a growing omni-channel presence of Online Sports Betting and iGaming offerings. It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 16 states. It also owns Gamesys Group, a leading, global, online gaming operator, Bally Interactive, a first-in-class sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, SportCaller, a leading, global B2B free-to-play game provider, and Telescope Inc., a leading provider of real-time fan engagement solutions.
With approximately 10,000 employees, the Company's Casino operations include more than 15,800 slot machines, 500 table games and 5,300 hotel rooms. Upon closing the previously announced Tropicana 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".
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by Bally's in this press release, its reports filed with the Securities and Exchange Commission and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for Bally's to predict or identify all such events or how they may affect it. Bally's has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include those included in Bally's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by Bally's with the SEC. These statements constitute Bally's cautionary statements under the Private Securities Litigation Reform Act of 1995.
Investor Contact
Robert Lavan
Senior Vice President – Finance and Investor Relations
401-475-8564
InvestorRelations@ballys.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
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