Bally's – Bookielink

August 1, 2024

Bally’s execs tout online growth, Chicago casino progress during second-quarter earnings call

Executives from Bally's Corp. were triumphant on Wednesday (31 July) in their presentation of the company's future prospects in Chicago, Las Vegas and online. The company reported $622m in overall revenue, a year-on-year increase of 3%.
Bally’s second-quarter earnings call on Wednesday featured optimistic presentations from CEO Robeson Reeves, president George Papanier and CFO Marcus Glover. Of its three verticals, two reported year-over-year growth in Q2. Its casino operations and North American digital segments posted gains of 3% and 95%, respectively. Its international interactive division declined 7%.

The big spike in digital was due mainly to the company’s March launch of igaming in Rhode Island. Internationally, Reeves said that its UK performance was strong but lagged elsewhere, mainly Asia, leading to the overall segment decline.

The trio did not comment on or field questions about Bally’s biggest development, last week’s takeover from Standard General. There was..

July 1, 2024

Bally Bet to launch 2 July in Massachusetts; VSC goes live in Maryland

On Monday (1 July) the Massachusetts Gaming Commission announced that Bally Bet has plans to launch Tuesday (2 July). The commission approved Bally's application for its operations certificate, clearing the way for that launch.

The MGC revealed that Bally Bet plans to launch at 11am local time on Tuesday.

Bally Bet has had its temporary licence for about 18 months and is the last of the operators approved for a 2023 launch to do so. After Betr and WynnBet exited Massachusetts earlier this year, Bally Bet will provide a seventh betting option for those in the state.

Bally Bet opted to sit out the universal launch on 10 March 2023 and renewed its temporary licence earlier this year at a cost of $1m.

“Congratulations to Bally’s, thank you for being another legal operator in the market,” MGC chairman Jordan Maynard said. The commission unanimously agreed to issue Bally’s Interactive with its operations certificate.

Bally Bet will join BetMGM, Caesars Spo..

June 21, 2024

Maryland: Betfred to exit, Bally’s and VSC to enter wagering market

Digital wagering operator Betfred Sportsbook revealed that it will be exiting the state of Maryland at Thursday's (20 June) Maryland State Lottery & Gaming Control Agency meeting.

Betfred’s US business, partnered with Long Shot’s (off track betting) OTB in Frederick, has struggled to gain traction and will shutter its retail and digital sportsbooks over the summer. Betfred will close its brick-and-mortar location on 30 June and take down its digital platform on July.

Maryland’s wagering law allows for more than 15 “Class B” licences, which are for OTBs, bingo halls and similar businesses. The idea was to spread the opportunity to participate in sports betting beyond the professional sports teams and casinos.

Long Shot’s was vocal during the legislative process, which also included using what lawmakers called a “lens of inclusion”. This was designed to help small businesses and women- and minority-owned businesses to enter the market.

Maryland Lottery & Gaming director John ..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

March 14, 2024

Bally’s planning late Q2 sports betting launch in Massachusetts

Bruce Band, the Massachusetts Gaming Commission (MGC)'s director of sports betting, told the MGC on Thursday that Bally’s has plans to launch its Bally Bet platform by the end of Q2.

While Massachusetts consumers have lost two digital sports betting options in the last month, thanks to Bally’s entrance, customers could gain one more choice by the end of June 2024.

Bally’s was initially licensed in Massachusetts in 2023. However it did not launch last year, leading to the company renewing its $1m licence in January 2024. BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook and FanDuel are currently live in Massachusetts, while Betr and WynnBet recently shut down their platforms.

On 5 March, Bally’s launched its igaming platform in Rhode Island, where it already has a monopoly on digital sports betting. That launch is significant as the company told the MGC last year that it would prioritise Rhode Island before turning its attention to the Bay State.

Bally’s ..

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