Bally’s Announces NBA Partnership Deal, Posts Q4 Earnings

Bally’s Announces NBA Partnership Deal, Posts Q4 Earnings
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Bally’s Corp. has partnered with another professional sports league for sports betting.

The gaming and entertainment company has entered into a multiyear partnership as an “Authorized Sports Betting Operator” of the NBA, according to a news release. The announcement came on Thursday, the same day Bally’s announced its fourth-quarter and 2020 earnings results.

This is Bally’s second sports betting partnership with a professional sports league, coming just weeks after it announced an official sports betting partnership with the NHL on Feb. 18.

The new NBA partnership will provide Bally's with access to official league data, as well as rights to use official NBA marks and logos across the company’s online sports betting platforms, the release said. Bally’s will also work together on best-in-class practices to protect the integrity of NBA games.

The gaming company has been moving on a number of fronts in recent months — daily fantasy sports and free-to-play games among them — to bolster its position in U.S. gaming. The deals with the NBA and NHL continue that momentum.

“Partnering with the NBA is an exceptional opportunity for Bally’s, adding to our ongoing momentum with professional sports leagues,” George Papanier, president and chief executive officer of Bally's Corp., said in the release. “Together with the NBA, we will unlock significant opportunities to provide a greater population of NBA fans with new, creative and engaging sports betting products and services.”

More About Bally's

Bally's online sports betting and iGaming offerings are powered by Bet.Works. Last November, Bally’s Corp. bought the sports-betting platform and acquired naming rights to the 19 regional sports networks of Sinclair Broadcast Group. The networks account for more than half of the NBA teams in the U.S.

Currently, Bally’s owns and manages 11 casinos across seven states, a horse racetrack and 13 authorized OTB licenses in Colorado. It has nearly 6,000 employees, according to the release.

After the completion of pending acquisitions — Tropicana Evansville (Evansville, Indiana), Jumer's Casino & Hotel (Rock Island, Iillinois), and MontBleu Resort Casino & Spa (Lake Tahoe, Nevada), as well as the construction of a land-based casino near the Nittany Mall in State College, Pennsylvania — Bally's will own and manage 15 casinos across 11 states.

Within the last month, it also announced it was acquiring the Monkey Knife Fight daily fantasy sports platform and SportCaller's free-to-play products.

Q4 Earnings Announced

In its fourth-quarter earnings announcement Thursday, Bally’s Corp., which trades as BALY on the NYSE, reported fourth-quarter net income of $20.2 million. Net income in the 2019 fourth quarter was $13.4 million. The company said it had net income of 61 cents on a per-share basis, better than Wall Street expected, with earnings (adjusted) coming in at 39 cents a share.

Bally’s reported revenue of $118.1 million in Q4, which ended Dec. 31. It was down slightly from analysts’ expectations. It had $130.4 million in revenue in the fourth quarter of 2019. It noted that some of its casinos were closed under COVID restrictions.

The company reported a loss of $5.5 million, or 18 cents per share, for the year. Revenue for 2020 came in at $372.8 million.

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