Bally's Corporation Becomes An Authorized Gaming Operator Of Major League Baseball

Rhea-AI Summary

Bally's Corporation (NYSE: BALY) has entered a multiyear agreement to become an Authorized Gaming Operator of Major League Baseball (MLB). This marks Bally's third partnership with a major sports league, following deals with the NHL and NBA. The agreement allows Bally's to utilize official MLB league and team logos and data in its sports betting products, enhancing fan engagement through innovative content. MLB Opening Day is on April 1, 2021, as Bally's aims to integrate these assets into its offerings across 19 regional sports networks.

Positive

• Becoming an Authorized Gaming Operator of MLB boosts Bally's brand visibility.
• The partnership allows access to official MLB logos and data for enhanced betting products.
• Collaboration with MLB to develop engaging content for fans.

Negative

• Operational risks related to the ongoing COVID-19 pandemic could impact financial performance.
• Integration challenges with recent acquisitions may affect operational efficiency.
• The highly competitive landscape of digital gaming presents growth risks.

PROVIDENCE, R.I., March 18, 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 multiyear agreement designating Bally's as an Authorized Gaming Operator of Major League Baseball ("MLB"). This deal represents Bally's third sports betting agreement with a professional sports league following its previously announced agreements with the National Hockey League and the National Basketball Association.

The agreement provides Bally's with immediate access to official MLB league and team marks, logos and data, which it intends to incorporate across its growing portfolio of sports betting products. Bally's will also include these assets as part of innovative content that the Company is creating for MLB fans, which will be integrated into live MLB game coverage across 19 regional sports networks that account for more than half of the U.S. MLB teams.

"The agreement between Bally's and MLB offers exciting benefits for baseball fans nationwide," said George Papanier, President and Chief Executive Officer of Bally's Corporation. "We are honored to have the opportunity to put the Bally's stamp on America's national pastime and look forward to providing an innovative and engaging sports betting experience. We can't wait for the season to begin."

As part of the agreement, Bally's and MLB will collaborate on best-in-class practices to protect the integrity of MLB games.

"As we prepare for the start of the 2021 season, working with Bally's will present our fans with yet another unique avenue to engage with baseball," said Kenny Gersh, MLB Executive Vice President, Gaming & New Business Ventures. "Bally's knows how to provide added entertainment for sports fans across the country, so we look forward to collaborating on new ways of engaging fans around our games."

MLB Opening Day is slated for April 1, with all 30 Clubs scheduled to play throughout the day.

About Bally's Corporation

Bally's Corporation currently owns and manages 11 casinos across seven states, a horse racetrack and 13 authorized OTB licenses in Colorado. With more than 5,900 employees, the Company's operations include 13,260 slot machines, 459 game tables and 2,941 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer's Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), 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 provides 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 Corporation's new deal with MLB?

Bally's Corporation has announced a multiyear agreement to become an Authorized Gaming Operator of Major League Baseball.

How does the MLB agreement affect Bally's sports betting products?

The agreement allows Bally's to use official MLB logos and data, enhancing its sports betting offerings and fan engagement.

When is MLB Opening Day 2021?

MLB Opening Day is scheduled for April 1, 2021.

What other sports leagues has Bally's partnered with?

Bally's has previously partnered with the National Hockey League (NHL) and the National Basketball Association (NBA).

What are the risks associated with Bally's new MLB deal?

Risks include operational challenges from COVID-19, integration difficulties from acquisitions, and competition in the digital gaming space.