PROVIDENCE, R.I., April 12, 2021 /PRNewswire/ -- Bally's
Corporation (NYSE: BALY), a leading U.S. omnichannel provider of
land-based gaming and interactive entertainment, today announced
entry into a memorandum of understanding ("MOU") with Sinclair
Broadcast Group (NASDAQ: SBGI). Under the MOU, Bally's and Sinclair
will work collectively to facilitate the production and broadcast
of Bally's-produced content during the current non-game windows on
Sinclair's 19 regional sports networks ("RSNs") recently rebranded
"Bally Sports".
Bally's and Sinclair will also explore opportunities to include
Bally's programming in Sinclair-owned media platforms and
affiliates other than the Bally Sports RSNs, which may include
Sinclair's Tennis Channel and Stadium assets. Bally's development
of a wide range of live sporting content and other interactive
programming will support the eventual launch of the Bally Bet app.
It will also reduce the Company's reliance on advertising spend,
though will have no impact on any contractual obligation that
Bally's owes to Sinclair or Bally
Sports.
Soo Kim, Chairman of Bally's
Corporation's Board of Directors, said, "We are pleased to further
our transformative partnership with Sinclair by exploring
opportunities for Bally's to produce new and engaging content and
interactive programming. We continue to seek innovative ways to
allow fans to further engage with the Bally's brand, and are
confident that the engagement opportunities we will create will
elevate the live viewing experience in a manner not seen before.
The gamification of live sports is the next phase of interactive
gaming, and we look forward to continuing to create lean-in
experiences for sports fans across the nation as our content
strategy continues to expand."
The Sinclair-owned and operated Bally Sports RSN portfolio
includes the following 19 network brands: Bally Sports Arizona;
Bally Sports Detroit; Bally Sports
Florida; Bally Sports Great Lakes; Bally Sports Kansas City;
Bally Sports Indiana; Bally Sports Midwest; Bally Sports New Orleans; Bally Sports North; Bally Sports Ohio; Bally
Sports Oklahoma; Bally Sports San
Diego; Bally Sports SoCal;
Bally Sports South; Bally Sports
Southeast; Bally Sports Southwest; Bally
Sports Sun; Bally Sports
West; and, Bally Sports Wisconsin.
About Bally's Corporation
Bally's Corporation currently owns and manages 12 casinos across
eight states, a horse racetrack and 13 authorized OTB licenses in
Colorado. With more than 6,000
employees, the Company's operations include 13,308 slot machines,
460 game tables and 3,342 hotel rooms. Following the completion of
pending acquisitions, which include Tropicana Evansville
(Evansville, IN) and Jumer's
Casino & Hotel (Rock Island,
IL), as well as the construction of a land-based casino near
the Nittany Mall in State College,
PA, Bally's will own and manage 15 casinos across 11 states.
Bally's also maintains a multi-year market access partnership with
Elite Casino Resorts through which it will provide mobile sports
betting in Iowa, as well as a
temporary sports wagering permit to conduct online sports betting
in the Commonwealth of Virginia.
Its shares trade on the New York Stock Exchange under the ticker
symbol "BALY."
Cautionary Note Regarding Forward-Looking Statements
This document includes forward-looking statements within the
meaning of the securities laws. Forward-looking statements are
statements as to matters that are not historical facts, and include
statements about Bally's plans, objectives, expectations and
intentions.
Forward-looking statements are not guarantees and are subject to
risks and uncertainties. Forward-looking statements are based on
Bally's current expectations and assumptions. Although Bally's
believes that its expectations and assumptions are reasonable at
this time, they should not be regarded as representations that
Bally's expectations will be achieved. Actual results may vary
materially. Forward-looking statements speak only as of the time of
this document and Bally's does not undertake to update or revise
them as more information becomes available, except as required by
law.
Important factors beyond those that apply to most businesses,
some of which are beyond Bally's control, that could cause actual
results to differ materially from our expectations and assumptions
include, without limitation:
- uncertainties surrounding the COVID-19 pandemic, including
limitations on Bally's operations, increased costs, changes in
customer attitudes, impact on Bally's employees and the ongoing
impact of COVID-19 on general economic conditions;
- unexpected costs, difficulties integrating and other events
impacting Bally's recently completed and proposed acquisitions and
Bally's ability to realize anticipated benefits;
- risks associated with Bally's rapid growth, including those
affecting customer and employee retention, integration and
controls;
- risks associated with the impact of the digitalization of
gaming on Bally's casino operations, Bally's expansion into iGaming
and sports betting and the highly competitive and rapidly changing
aspects of Bally's new interactive businesses generally;
- the very substantial regulatory restrictions applicable to
Bally's, including costs of compliance;
- restrictions and limitations in agreements governing Bally's
debt could significantly affect Bally's ability to operate our
business and our liquidity; and
- other risks identified in Part I. Item 1A. "Risk Factors" of
Bally's Annual Report on Form 10–K for the fiscal year ended
December 31, 2019 as filed with SEC
on March 13, 2020 and other filings
with the SEC.
The foregoing list of important factors is not exclusive and
does not include matters like changes in general economic
conditions that affect substantially all gaming businesses.
You should not to place undue reliance on Bally's
forward-looking statements.
Investor Contact
Steve Capp
Executive Vice President and Chief Financial Officer
401-475-8564
InvestorRelations@twinriver.com
Media Contact
Richard Goldman / David Gill
Kekst CNC
646-847-6102 / 917-842-5384
BallysMediaInquiries@kekstcnc.com
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SOURCE Bally's Corporation