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Bally’s Launches Iowa Sportsbook with Elite Casino Resorts
Bally’s Corporation Interactive has announced the launch of its Iowa mobile sportsbook. But the launch is in its beta stage and it went live in the state via Elite Casino Resorts through its subsidiary.
Bally’s Interactive and Bet.Works Launch Sportsbook in Iowa
Bally’s sportsbook brand launched in Iowa after a market access partnership with Elite Casino Resorts. The multi-year deal was signed in November and this will see Bally’s enjoy presence in the Larchwood resort. This will allow sports fans to bet on various sporting events through the mobile sportsbook.
Players can enjoy integrated social aspects and parlay games. This is apart from the betting options. Betting on the various sports will see members earn points. They can later redeem the points to use for gaming, retail, and dining among other amenities. Players can redeem the points at other Bally’s casinos across the country. This is through the Bally Rewards loyalty program.
Bally’s is set to benefit from the visibility that comes with the Sinclair Broadcast Group Fox and CBS television affiliates in the state. Bally’s and Sinclair Broadcasting Group signed an integration deal. This will allow Bally’s to integrate its content into 190 Sinclair-owned and operated television stations. This is in addition to its sports channels.
Bally’s Seizing the Opportunity to Grow its Market Presence
Iowa has had a legal sports betting market since 2019. This is one of the reasons that made it an attractive market for the company. This is according to Adi Dhandhania who is the Senior Vice President of Strategy and Interactive at Bally’s Corporation.
The official went ahead to express the company’s preparedness in integrating its content across Sinclair’s digital and broadcast programming. Adi Dhandhania said this would provide Iowa sports betting fans with a creative and engaging sports betting experience.
He concluded by stating that the sportsbook launch in Iowa is part of its wider strategy to solidify its position as the leading retail sports brand. This takes the brand to third in terms of the market reach when it comes to legal gambling across the US.
Bally’s Increased Market Expansion in the US
The definitive deal with Bet.Works in early November 2020 meant that the operator would take over ownership of the gambling brand’s turnkey solutions. It also took over proprietary technology, compliance tools, customer service, operations, marketing, and risk management. The deal was closed for about $125 million.
Bally’s signed multiple market access agreements with various states including Nevada, Illinois, Indiana, and Louisiana. This gave the company access to wider markets across the US. But the operator entered these states’ markets using its land-based properties. That’s apart from Iowa where it entered the market using Elite Casino Resorts.
The operator termed the signing of such market access deals as a creative solution. This was in reference to what it termed a fast-shifting market. Speaking of market access, Bally’s Bet entered the second state after launching in Colorado last month.
Reports from Bally’s say it’s set to launch in two more markets before 2021 closes. It will then follow it up with additional launches in 2022.
Bally’s is on the verge of acquiring Gamesys but that is dependent on a shareholders vote scheduled for June 30. The boards of both companies already reached an agreement worth $2.77bn in March 2021. Gamesys is an online gambling platform.