US sportsbook tech platform Bet.Works bought out by Bally’s Corporation
Bally’s Corporation has announced its acquisition of US sportsbook tech platform Bet.Works in a $125 million deal.
Bet.Works owns operations across many states including New Jersey, Iowa, Indiana, and Colorado, and will be a great way to expand on Bally’s existing extensive operations in the US.
Over the past two years, Bally has been continuously expanding in the USA. When all pending transactions are complete, Bally’s Corporation will have 14 casinos across 10 different states. This move seals the deal in Bally’s growth predictions as the acquisition of the US sportsbook tech platform is sure to help out a lot in their expansion.
Bet.Works’ tech and turnkey solutions will be integrated into Bally’s existing models once the acquisition is complete. What this means is that they will simply be offering a full-service, vertically integrated sports betting and iGaming solution to many different physical and online casino brands in the US.
“This is the next step in our Company’s evolution. By combining our expanding national footprint of casinos, the recently acquired Bally’s brand, and Bet.Works’ proprietary technology stack, we have evolved in just a few short years from a regional casino operator into the first U.S. gaming company committed to serving our customers with an omni-channel approach, combining the best of our physical properties with a superior online experience.” Said Soo Kim, Chairman of Bally’s Corporation’s Board of Directors.
The next step that will be taken is the separation of operations which will happen into the two following divisions: Bally’s Casinos will handle all physical gaming and entertainment. On the other hand, contracts for sports betting and iGaming will be handled by Bally’s Interactive, including the operations of Bet.Works. Bet.Works’ founder and CEO, David Wang, will serve as the CEO of Bally’s Interactive.