- Bally’s Corporation will pay Sinclair Broadcast Group $85 million over 10 years in order to have naming rights for their 21 regional sports networks.
- The goal is to drive traffic to Bally’s online sportsbook through local tv broadcasts.
- Bally’s sports will be featured in broadcasts for teams such as the Kansas City Royals, Arizona Diamond Backs, and Tampa Bay Rays.
ATLANTIC CITY, NJ. – Bally’s Corp. is betting big on local sports fans by entering a 10-year deal with Sinclair Broadcast Group.
Over the course of the deal, Bally’s Corp. will pay Sinclair $85 million for naming rights to their 21 FOX Regional Sports Networks (RSNs). Those networks will be named Bally’s Sports under the terms of the new partnership.
Sinclair will also get a 15% stake in Bally’s and will be able to increase an additional 15% stake if certain financial targets are met.
What’s In It For Bally’s?
Bally’s, which is purchasing the sports betting software firm Bet.Works for $100 million, is aiming to drive traffic to its online sportsbook through television broadcasts for the 42 professional sports teams they now have access to.
According to the New York Post, teams that they will be able to integrate their broadcasts with include the Tampa Bay Rays, Kansas City Royals, Detroit Tigers, and Arizona Diamond Backs to name a few.
However, the states in which the deal can see it’s full potential are states in which Bally’s Corp. has a physical presence and where sports betting is legal.
Twin River Holdings recently changed its name to Bally’s Corp. as part of a brand acquisition deal, meaning over half of the casinos the company owns are located in legal sports betting states such as Colorado, Rhode Island, Louisiana, New Jersey, Rhode Island, Mississippi, and Nevada.
“This arrangement represents an opportunity to revolutionize the U.S. sports betting, gaming and media industries,” said Soo Kim, Chairman of Bally’s Corporation’s Board of Directors. “Sinclair, with its broad holdings of stations, channels and RSNs, provides immediate, national brand recognition that will support the development of Bally’s player database for both our traditional casinos as well as our future online offerings, and ultimately deliver significant shareholder value. We look forward to integrating our first-in-class, omni-channel sports betting and iGaming offerings with Sinclair’s expansive broadcast network to create a more engaging and tailored experience for sports fans, positioning Bally’s to become one of the top U.S. sports betting and iGaming operators.”
What Does Sinclair Get?
In August of 2019, Sinclair purchased the FOX RSNs from Disney during Disney’s Acquisition of 21st Century FOX. At the time of purchase, Sinclair agreed to pay $9.6 billion but just this month they valued the deal at only $4.23 billion.
Sinclair is hoping to get a boost from an industry that’s growing rapidly and is becoming more apparent in the general sports atmosphere.
“If you’re interested in gaming, we’re going to add extra stats, the ability to do prop bets, pitch by pitch, play by play,” said Chris Ripley, CEO of and President of Sinclair at the time of the RSNs purchase. “You can play along and wager while you watch.”
The deal with Bally’s Corp. is a step in making that original promise come true.
“Since acquiring Tennis Channel a few years ago and the RSNs last year, we have been working on developing an innovative experience that changes the way people think about and view live sports across all our platforms. Bally’s, with its strong brand name, premier sportsbook technology platform and expansive market access, is the perfect partner to help us change the paradigm of sports viewing across all our assets. By integrating gamification elements that allow audiences a more personalized and interactive game experience, consumers of live sports in the future can look forward to a more dynamic and engaging sports viewing experience. With the U.S. sports betting and iGaming market expected to ultimately reach ~$50 billion at maturity, this partnership perfectly positions our sports portfolio to fully capitalize on changing audience behavior,” said Ripley.
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News tags: Bally's Atlantic City | Bally’s Corp | Bet.Works | Chris Ripley | Disney | FOX Sports | Sinclair Broadcast Group | Soo Kim | Twin River Holdings
– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.