Bally’s Lands Major League Baseball Deal, Third Pro Sports Partnership

Posted on: March 18, 2021, 08:33h. 

Last updated on: March 18, 2021, 01:04h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Bally’s Corp. (NYSE:BALY) is ringing up another agreement with a domestic sports league, saying today it’s now the authorized gaming partner of Major League Baseball (MLB).

The gaming company now has accords with three of the four premier domestic sports associations, with the NFL being the exception. Last week, the casino company became the authorized sports betting operator of the NBA, following a similar pact with the NHL revealed in February.

The Bally’s deal with MLB is standard fare for these type of arrangements. The gaming company gains access to official MLB league and team marks, logos and data, which it will use across its portfolio of sports wagering products.

Rhode Island-based Bally’s and MLB announced the agreement just ahead of the start of the 2021 baseball season. Opening Day arrives in April, with all 30 teams slated to be in action. Financial terms of the deal weren’t disclosed.

Another Avenue for Bally’s Broadcast Arrangement

The affiliation with MLB gives Bally another way to capitalize on its relationship with Sinclair Broadcast Group.

Last November, the gaming company struck a deal with the media company to pay $85 million over 10 years to put its name on 21 regional sports networks (RSNs). While that agreement isn’t hefty in a financial sense, it is one of the boldest partnerships between a casino operator and a television network. Bally’s will integrate certain assets into coverage of MLB games across 19 of the RSNs covering more than half the league’s teams.

Through the Sinclair accord, Bally’s teams with networks that have broadcasting rights for 12 NHL, 16 MLB, and 17 NBA franchises. That provides the gaming operator with increased geographic diversity and ways to further expand its fast-growing sports betting unit.

Sports Wagering in Virginia

On Tuesday, the gaming company said it was issued a temporary sports wagering permit to operate sports wagering in Virginia.

“The announcement also marks Bally’s entry into the attractive Virginia gaming market, expanding the Company’s national presence into 13 states once all pending acquisitions are completed, including Colorado, Delaware, Illinois, Iowa, Indiana, Louisiana, Missouri, Mississippi, New Jersey, Nevada, Pennsylvania, Rhode Island, and Virginia,” said the company.

The MLB and Virginia news extend a now-lengthy run of acquisitions and new partnerships by Bally’s to push into arenas beyond traditional casino operation, including daily fantasy sports (DFS) and sports wagering.

Earlier this week, the company made a $90 million offer to acquire the World Poker Tour (WPT) from Allied Esports Entertainment (NASDAQ:AESE).