Bally's Corporation, a leading US omnichannel provider of land-based gaming and interactive entertainment, has completed its previously announced acquisition of Bet.Works.
Bet.Works is a US-based sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado.
The transaction, which includes Bet.Works' proprietary technology stack and turnkey solutions, makes Bally's the premier, full-service, vertically integrated sports betting and igaming company in the US with physical casinos, online gaming solutions and a B2B2C business model under a single brand.
The total purchase price of the acquisition was $125m, half of which was paid in Bally's common stock, which Bet.Works shareholders agreed to hold for at least one year.
With the closing of the transaction, Bally's will create two distinct operating divisions - Bally's Casinos, which will include the company's physical gaming and entertainment properties, and Bally's Interactive, which will be comprised of all of Bet.Works' sports betting operations.
Bally's Interactiv" will also include Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, and SportCaller, a leading global B2B free-to-play game provider.
