Bally’s announced a pair of agreements recently in anticipation of its relaunch of Bally Bet, the company’s online sportsbook.
The company tried an in-house platform taking over Bet Works, but that did not work. In addition, the company shut down Monkey Knife Fight, its daily fantasy sports product, purchased for $90 million in 2021.
“On sports, we recognize that the Bet.Works acquisition did not give us the platform required to develop a competitive product,” now-CEO Robeson Reeves said during a February conference call for analysts and investors.
“We didn’t react fast enough there, and this will not happen again. We are confident there are more economical and nimble solutions out there and have spent the past five months analyzing them deeply.”
The company entered into deals with sports betting services provider Kambi Group and iGaming platform provider White Hat Gaming.
Robeson said he was excited about the partnerships.
“We are very excited to have entered into long-term agreements with Kambi and White Hat, two of the world’s most established and trusted gaming technology companies.”
“Kambi provides an award-winning sportsbook that delivers unrivaled sports betting entertainment. By incorporating that with White Hat’s PAM platform solution, as well as our geographic reach, customer base, and marketing prowess, Bally’s will be optimally positioned to achieve significant scale and capture substantial market share in the global gaming market,” Robeson added.
Kristian Nylén, Kambi CEO and Co-Founder, said in a release: “We are pleased to enter into this long-term partnership with Bally’s to enable the enhancement and expansion of its online and retail sports betting platform and services. Kambi is the proven global leader in sportsbook provision, and I believe this powerful collaboration with Bally’s
“We are excited to partner with an innovative gaming company such as Bally’s, whose vision for growth and diversification complements that of White Hat,” Phil Gelvan, CEO of White Hat Gaming said in a release. “We are confident that our core technology, including our best-in-class PAM solution, plus our managed service offering, will not only enhance the Bally’s experience and player engagement but also support its expansion strategy.
The plan is to relaunch in seven states by the end of 2023.
One of the state’s Bally Bet is active in is New York, but it is ninth in revenue among the nine online operators.
