Bally’s acquires Bet.Works in $125m deal

The deal is Bally's latest step in a long-term growth, development and unification strategy.
The deal is Bally's latest step in a long-term growth, development and unification strategy.

Bally’s Corporation adds to its slew of deals this year as it continues its expansion in the US.

US.- Casino operator Bally’s Corporation has acquired sports betting platform provider Bet.Works in a $125m deal.

Bally’s will take over Bet.Works’ proprietary technology stack and turnkey solutions, which include marketing, operations, customer service, risk management and compliance.

The deal will be paid half in cash and half in Bally’s common stock, which Bet.Works shareholders have agreed to hold for at least a year.

Bally’s hopes the deal will make them “the premier, full-service, vertically integrated sports betting and igaming company in the US” and described the move as its latest step in a long-term growth, development and unification strategy.

The gaming company was previously owned by Caesars Entertainment before being acquired by Twin River Worldwide Holdings in October. Twin River has completed several deals this year to expand in the US market.

This week Bally’s also entered a deal with Sinclair Broadcasting to rename its sports channels after the brand, giving it access to fans of 45 US sports teams.