November 25, 2020
Bally’s has reached an agreement to bring Iowa mobile sports betting to state residents via their new relationship with Elite Casino Resorts. The partnership follows Bally’s recently announced agreement to obtain sports book provider Bet.Works. Bally’s agreed to purchase the Bet.Works earlier for $125 million.
Notably, expansion of Iowa mobile sports betting will be the operator’s initially market place entry in a jurisdiction the place it does not possess a land-primarily based on line casino home. After all pending land-based mostly acquisitions are concluded, which contain further properties in Indiana, Illinois, Louisiana and Nevada, the industry obtain arrangement will mark Bally’s expansion into its eleventh point out nationally.
Despite the fact that Bally’s generally prefers to enter jurisdictions by way of its have land-based portfolio, the operator said sector accessibility agreements these types of as the Elite deal ended up a very good answer to a speedily altering market that the company may well use on situation.
“We are delighted to partner with Elite On line casino Resorts in Iowa,” Bally’s Corporation president and chief govt George Papanier explained.
“We at the moment operate sports books in Rhode Island, Colorado, Delaware, Mississippi, and quickly will be in Atlantic City. Moving into the Iowa gaming current market with our new, built-in sporting activities betting and igaming organization is incredibly exciting and we glance forward to the launch in 2021.”
Publishing its economic benefits in October, Bally’s said restricting its third quarter revenue drop to 9.8% yr-on-12 months represented a constructive outcome, as it brought in $116.6m in earnings even with troubles caused by the novel Coronavirus pandemic.
