Bally's Inks B2B Sports Betting Agreements With Kambi And White Hat Gaming To Power "Bally Bet"

  • Bally's Corp BALY has entered into exclusive, multi-year agreements with Kambi Group plc and White Hat Gaming to serve as its B2B online sports betting (OSB) and platform providers.
  • Kambi is a sports betting partner, and White Hat is a PAM platform solutions provider.
  • Combining the services of the two parties along with Bally's footprint of 17 casinos across 11 states, player database, an integrated Bally Rewards program, and a cross-functional marketing operation will help the relaunch of Bally Bet, Bally's online sports betting platform.
  • The company expects the relaunch to occur across seven states and at four retail gaming locations by the end of 2023.
  • It will also help Bally's to expand its OSB presence globally over time.
  • With the agreement, Bally's B2C sports betting platforms will shift to a variable cost structure that will generate significant cost savings and reduce risk. 
  • "This, in turn, will support our vision of becoming the premier, full-service, vertically integrated casinos and resorts, online sports betting, and iGaming company," said Bally's CEO Robeson Reeves.
  • Price Action: BALY shares closed higher by 1.45% at $17.45 on Monday.
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