Bally’s Corp and SportRadar Announce Five-Year Sports Betting Deal

Odds Board and Money

Baly’s Corp, through Bally’s Interactive, has entered into a five-year sports betting agreement with sports betting provider SportRadar.

The deal gives Bally’s Interactive access to SportRadar’s comprehensive suite o betting data as part of its plan to their online betting capabilities.

Said Bally’s Corp. senior vice president of strategy and interactive Adi Dhandhania in a statement:

“This partnership provides us with a comprehensive suite of betting data, which will allow us to enhance our products and content offerings. We look forward to continuing to execute on our online sports betting and interactive gaming expansion strategy.”

Access to SportRadar’s Sportsbook Technology

In a statement, SportRadar says that Bally’s would receive access to its complete pre-game betting services, live betting services, and content solutions portfolio. Bally’s Interactive will incorporate that data portfolio as part of its expansion plans.

Under their agreement, SportRadar will provide pre-game and in-game odds for Bally’s and will also offer it additional assets like stats packages and live score widgets. Integrated in that technology is SportRadar’s data suite which includes live information and news from leagues and sports governing bodies around the world.

Online sportsbooks Bet365 and William Hill both have the same business relationship with SportRadar. Online publication The Athletic also uses SportRadar’s service, using it to provide in-depth statistical analysis to their content. SportRadar is also the official integrity partner of the NHL.

Bally’s is Just Getting Started

Bally’s Corp. is just getting started in the sports industry business. They launched at their first market in Colorado last May and have a beta version of their Bally Bet technology which began operating in Iowa last month.

With more and more bettors making bets using their mobile phones and desktop PCs instead of going to brick and mortar shops, the online sports betting industry is picking up steam and more and more competitors have sprung up. Bally’s Corp hopes that its brand recognition will help its sports betting app.

Bally’s logo can be seen on highlights and game broadcasts on a consistent basis after the company purchased the naming rights to 21 of Sinclair’s regional sports networks. Aside from that Bally’s also bought sports betting platform Bet.Works for $125M and fantasy sports platform Monkey Knife Fight for $90M within the past year.

Caesars Completes Sale of Eldorado Shreveport to Bally’s Corp.

Caesars Entertainment Logo
Caesars Entertainment completed its sale of Eldorado Shreveport to Bally’s corporation last week to satisfy the stipulation imposed by the Federal Trade Commission earlier this year after its merger with Eldorado.

The $17.3 merger created the largest gamblig company in the United States. The FTC required the surviving entity to dispose some of its casinos in markets that presented anti-trust issues. In Louisiana, Caesars was to sell Belle of Baton Rogue and Harrah’s Louisiana Downs Casino and Racetrack in Bossier City along with Eldorado Shreveport. The sale of the two other Louisiana casinos are still pending.

Said Caesars CEO Tom Reeg of the sale:

“Since our acquisition of the property 15 years ago, our team members’ passion and commitment have driven our success in Shreveport. We wish all of them continued success under Bally’s ownership.”

Important For Bally’s Corp.

The $140M purchase is important for Bally’s for several reasons. First, it aids the Rhode Island-based gambling company’s geographical diversification efforts, also diversifying its revenue source while diluting the concentration on its home market. The acquisition also enabled Bally’s to enter the 5th largest betting market in the United States, which is expected to boom even more with the approval of sports betting in the state.

After sealing the Shreveport deal, Bally’s now has a total of 11 casinos across seven different states, one horse track, 13 off track betting licenses in Colorado. With still other pending deals waiting to be completed, Bally’s is expected to control 14 gambling properties in 10 different states when all is said and done.

Not The First Buyer

While Bally’s is the company that closed the deal, it wasn’t the first buyer for the Louisiana casino. It can be recalled that last January, Eldorado announced that it would be selling the Shreveport property to Maverick Gaming LLC for $230M. However, that deal collapsed at the height of the coronavirus pandemic.

ERC then struck a deal with Twin River Worldwide Holdings, the predecessor of Bally’s last April. Twin River spent $20M for the control of the Bally name, brand, and intellectual property. Last month, Twin River completed the $25M acquisition of Bally’s Atlantic City. Shares of Bally closed at $49.14 or up by $1.66 after the announcement of the completion of the Shreveport deal.