Bally’s Finalizes Acquisition of Betting Platform Guess.Works
US on line casino operator and supplier of B2B and B2C providers for the net playing trade Bally’s Company on Tuesday introduced that it has accomplished the beforehand introduced acquisition of Guess.Works.
Guess.Works is a US-based supplier of a sports activities betting platform that gives its merchandise to wagering operators in New Jersey, Iowa, Indiana, and Colorado.
Bally’s introduced the acquisition of the supplier in November 2020. The corporate paid $125 million for the platform and associated expertise options developer. The transaction included Guess.Works’ proprietary expertise stack and turnkey options, together with advertising, operations, customer support, threat administration, and compliance.
Bally’s paid half of the acquisition worth in widespread inventory which shareholders within the different firm agreed to carry for not less than one yr.
The Rhode Island-based on line casino operator, which final yr rebranded from Twin River Worldwide Holdings, stated that the acquisition of Guess.Works would assist it turn out to be the “premier, full-service, vertically built-in sports activities betting and iGaming firm within the US with bodily casinos, on-line playing options and a B2B2C enterprise mannequin united beneath a single, preeminent model.”
A Milestone Deal
Commenting on the acquisition of Guess.Works, Bally’s Corp. Chairman Soo Kim stated that closing the transaction represents a major milestone for his firm as they “proceed to embark on our long-term development and diversification technique.”
The businessman went on to say that over a brief interval of just some years, they’ve remodeled Bally’s from a regional on line casino operator into the “solely US gaming and leisure firm offering clients with an omni-channel expertise that mixes a nationwide portfolio of best-in-class properties with unmatched digital capabilities.”
Ms. Kim additional identified that with Guess.Works’ expertise underpinning their interactive providing, they’re nicely positioned on capitalizing on the quickly rising US sports activities betting trade and are wanting ahead to launching extra interactive choices later in 2021.
Two New Working Divisions
With the current closure of the Guess.Works acquisition, Bally’s now plans to create two distinct working divisions – Bally’s Casinos, which can comprise the corporate’s land-based casinos and leisure properties, and Bally’s Interactive, which can embody all of Guess.Works’ sports activities betting operations, day by day fantasy sports activities web site Monkey Knife Battle, and free-to-play recreation supplier Sport Caller.
Bally’s Interactive additional plans to open a expertise improvement hub in Rhode Island by the tip of the yr, which can initially encompass 25 staff.
Guess.Works founder and CEO David Wang will lead the combination of his staff of greater than 190 folks inside the bigger group.
As a part of the acquisition of the sports activities betting expertise supplier, Bally’s just lately beta launched its Guess.Works-powered Bally Bet mobile sportsbook in Colorado. The app is now obtainable for obtain within the Centennial State on each iOS and Android and can also be accessible through desktop.
Bally’s plans to launch the sports activities betting operation in three extra markets this yr, with subsequent launches being deliberate to happen subsequent yr.
Supply: Bally’s Corporation Closes Bet.Works Acquisition, PR Newswire, June 2, 2021