Bally’s enters exclusive sports betting pacts with Kambi, White Hat Gaming

Bally’s announced that, after conducting a thorough evaluation, it has entered into exclusive, multi-year agreements with Kambi Group and White Hat Gaming to serve as Bally’s B2B online sports betting, or OSB, and platform providers. Combining these services with Bally’s core strengths, including its footprint, which will consist of 17 casinos across 11 states once ongoing projects are completed, a proprietary player database, an integrated Bally Rewards program, and a cross-functional marketing operation, will support the relaunch of Bally Bet, Bally’s online sports betting platform, which the company expects to occur across seven states and at four retail gaming locations by the end of 2023. They will also enable Bally’s to expand its OSB presence globally over time. Through these partnerships, Bally’s will leverage Kambi’s and White Hat’s proven technology integration, extensive licensing across regulated jurisdictions, end-to-end solutions, and track record of executing quick launches to support the expansion and enhancement of its online and retail sportsbooks. In addition, the fixed cost structure previously associated with powering Bally’s B2C sports betting platforms will shift to a variable cost structure that will generate significant cost savings and reduce risk. Under the terms of the Kambi partnership, Bally’s will integrate Kambi’s mature suite of omnichannel products, trading capabilities, content solutions, and model driven approach to liability management to deliver unrivaled online and retail sports betting entertainment, and iGaming offerings, to Bally’s global customer base. Additionally, Bally’s maintains the option, pending the satisfaction of certain material performance metrics, to acquire a license to a limited part of Kambi’s online and retail technology source code. Should Bally’s exercise the option and pay an agreed sum, the two parties would enter into a separate long-term outsourcing agreement in relation to Kambi’s range of modularized services.