Bally’s Corporation Tuesday announced that its acquisition of Bet.Works, a sports betting platform provider, has been finalized.
The $125 million deal comprises Bet.Works’ proprietary technology stack and turnkey solutions. It also includes marketing, operations, customer service, risk management, and compliance.
Moreover, Bally’s first announced the acquisition of Bet.Works, which offers services to casino operators in New Jersey, Iowa, Indiana, and Colorado, in November 2020.
Soo Kim, Bally’s Chairman of the Board of Directors, said, “We stand in a good position to capitalize on significant opportunities that continue as a rapidly expanding industry. We are looking forward to launching additional interactive offerings later this year. We are thankful to Bet.Works’ market-leading technology underpinning our interactive platform.”
Bally’s President and CEO George Papanier said, “We are glad to welcome David and the Bet.Works team to Bally.”
The Rhode Island-based gaming company launched Bally Bet in Colorado on May 25. It was its first foray into the mobile sports betting market. Also, by the end of 2021, Bally’s expects to launch its mobile sports betting platform in three additional markets.