Bally's Corporation Launches Mobile Sportsbook In Colorado
Bally's Corporation (NYSE: BALY) announced the beta launch of its mobile sportsbook, Bally Bet, in Colorado on May 24, 2021. Developed by Bet.Works, this mobile platform features unique betting options, exclusive games, and social integration aimed at enhancing the user experience. Bally's plan includes expanding into three additional markets in 2021 and further launches in 2022. The Bally Bet app is now available on iOS, Android, and desktop, developed under a strategy to drive growth and diversify its offerings in the competitive sports betting market.
- Launch of Bally Bet mobile sportsbook in Colorado, enhancing market presence.
- Plans to expand into three additional markets in 2021, indicating growth potential.
- Innovative features aimed at improving user experience, including exclusive in-app games.
- Limited marketing for the beta launch may restrict initial user adoption.
- Risks associated with competition in the rapidly evolving mobile sports betting market.
PROVIDENCE, R.I., May 24, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY), a leading U.S. omnichannel provider of land-based gaming and interactive entertainment, today announced that it has entered the mobile sports betting market with the beta launch of its mobile sportsbook, Bally Bet, in Colorado. Bally Bet, which will offer a variety of unique and innovative features to sports betting fans across the Centennial State, was developed by Bet.Works – a premier, U.S. regulated sportsbook technology platform being acquired by Bally's. The beta launch, which will be accompanied by limited marketing, will focus on the deployment, testing and refinement of the Bally Bet app and its content. Bally's intends to incorporate enhancements to the Bally Bet app over the coming weeks.
David Wang, Founder and CEO of Bet.Works, who will become the CEO of Bally's Interactive once Bally's closes its acquisition of Bet.Works, said, "Bally Bet is the culmination of a tremendous amount of hard work by both the Bally's and Bet.Works teams, and represents a key component of Bally's long-term growth and diversification strategy. Today's launch is just the beginning of what Bally's has in store for the mobile sportsbook market."
Bally Bet will include, among other things, betting options for all of the biggest sports, exclusive in-app parlay games and integrated social features. In addition, Bally Bet users will be able to earn points betting on sports that they can redeem for gaming, dining, retail and other amenities at Bally's Golden Gates, Golden Gulch and Mardi Gras casinos located in Black Hawk, CO, and at all of Bally's casinos nationwide once the company's new rewards program is unveiled this summer.
Adi Dhandhania, Senior Vice President, Strategy and Interactive, for Bally's Corporation, said, "We are excited to provide sports fans across Colorado with a new and innovative way to engage with their favorite sports and teams, and are confident that the Bally Bet sportsbook will provide those fans with the same unique and first-in-class experience that our loyal gaming customers have come to expect from our three Colorado casinos. By integrating Bally Bet with Bally Rewards, we will provide sports and gaming enthusiasts with an unmatched betting experience."
Bally's intends to launch mobile sportsbooks in three additional markets in 2021, with subsequent launches to occur in 2022. The Bally Bet app is now available for download in Colorado on both iOS and Android, and is also accessible via desktop at www.ballybet.com. For more information, follow @ballybet on Twitter.
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), Jumer's Casino & Hotel (Rock Island, IL), and Tropicana Las Vegas (Las Vegas, 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 16 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, and 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, 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
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
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