In a significant move for the gaming industry, Bally’s Corporation recently announced a partnership with Minor League Baseball (MiLB) in a deal that will see Bally’s become the official sports betting partner of MiLB. The partnership will provide Bally’s with access to official league data and marks a significant step towards further integrating sports betting into mainstream American sports.
Sports Betting Industry and Minor League Baseball
This move is no surprise, as Bally’s has made significant strides in the sports betting industry in recent years. In fact, the company has been busy expanding its footprint in the United States through a series of strategic partnerships and acquisitions.
In November 2020, Bally’s announced its acquisition of Bet.Works is a sports betting technology company that provides platform solutions for online and retail sportsbooks. This acquisition was a significant step for Bally’s, as it allowed the company to build and operate its own online sportsbook and provide it with access to Bet.Works’ customer base.
Partnerships Deals Besides Minor League Baseball
Bally’s has also made significant inroads into the Canadian market. In January 2021, the company announced a partnership with the Toronto Raptors, becoming the team’s official sports betting partner. This deal marked the first official partnership between a professional sports team in Canada and a gaming company.
The Raptors deal was quickly followed by a similar partnership with the National Hockey League (NHL), making Bally the official sports betting partner of the NHL. The deal gives Bally’s access to official league data and the right to use NHL trademarks in its advertising.
Bally’s has also been expanding its presence in the retail gaming space. In November 2020, the company announced the acquisition of the Tropicana Las Vegas Hotel and Casino. This acquisition was a significant step for Bally’s, as it allowed the company to establish a presence in the Las Vegas market, a key hub for the gaming industry.
Minor League Baseball and Sports Betting with Ballys
The company has also been busy expanding its retail sports betting footprint. Before they made a deal with Minor League Baseball, in February 2021, Bally’s announced a partnership with Elite Casino Resorts, which operates three casino properties in Iowa. The partnership will allow Bally’s to offer sports betting at Elite Casino Resorts’ properties and online and mobile betting through Bally’s platform.
All of these partnerships and acquisitions represent a significant step forward for Bally’s in its efforts to establish itself as a major player in the sports betting industry. The company has been investing significantly in technology and infrastructure, which should position it well for the future.
However, Bally’s faces stiff competition from other major players in the sports betting industry, such as DraftKings, FanDuel, and MGM Resorts. These companies have established a strong foothold in the industry and will likely be significant players for years.
The expansion of Bally’s into the sports betting industry and its strategic partnerships and acquisitions are part of a larger trend in the gaming industry towards sports betting and online gaming. The recent global health crises have accelerated the shift towards online gaming, and companies like Bally’s have quickly adapted to the changing landscape.
According to a report by Grand View Research, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027. The report cites factors such as increasing internet penetration and the availability of cost-effective mobile applications as key drivers of growth in the online gambling industry.
Deals and Acquisitions Like Minor League Baseball
As the industry continues to grow, companies like Bally’s will likely continue to expand their presence and seek out strategic partnerships like with Minor League Baseball and acquisitions to position themselves for success. It remains to be seen how the regulatory landscape will evolve to accommodate the growing popularity of online gambling and sports betting, but the trend toward legalization and regulation is expected to continue in the coming years.
Overall, the partnership between Bally’s Corporation and Minor League Baseball is just the latest in a series of strategic moves by the gaming giant to expand its presence in the sports betting industry. As the industry continues to grow and evolve, it will be fascinating to see how Bally’s and its competitors position themselves for success.
Sources:
- The Athletic. “Bally Sports RSN: Networks’ NBA, NHL, and MLB broadcasts still in question.” Accessed April 1, 2023. https://theathletic.com/4219468/2023/02/17/bally-sports-rsn-nba-nhl-mlb-broadcasts/.
- Bally Sports. “Toronto Raptors.” Accessed April 1, 2023. https://www.ballysports.com/nba/3433-toronto-raptors/.
- Forbes. “With Financial Turmoil At Bally Sports Networks, Major Sports Leagues Gear Up For A Future Without Cable.” Accessed April 1, 2023. https://www.forbes.com/sites/jabariyoung/2023/02/17/with-financial-turmoil-at-bally-sports-networks-major-sports-leagues-gear-up-for-a-future-without-cable/.
- Photo by Jose Francisco Morales