Bally's Inks B2B Sports Betting Agreements With Kambi And White Hat Gaming To Power "Bally Bet" - Ballys (NYSE:BALY)

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.