Bally’s Corporation announced on Monday that it has signed multi-year agreements with Kambi Group plc and White Hat Gaming. Kambi Group, a sports betting partner, and White Hat Gaming, a platform solution, will serve as Bally’s online sports betting and platform providers.
These partnerships will support the relaunch of Bally’s online sports betting platform, Bally Bet, which the company expects to occur across seven states and at four retail gaming locations by the end of 2023.
Partnerships with Kambi and White Hat Gaming
Through these partnerships, Bally’s will be able to leverage Kambi’s and White Hat Gaming’s technology integration and extensive licensing across regulated jurisdictions. The partnerships will also help to expand and enhance Bally’s online and retail sportsbooks. The cost structure previously associated with powering Bally’s B2C sports betting platforms will shift to a variable cost structure, generating significant cost savings and reducing risk.
Bally’s will integrate Kambi’s omnichannel products, trading capabilities, content solutions, and model-driven approach. It will do so to manage liability, to deliver online and retail sports betting entertainment and iGaming offerings to its global customer base.
The company also maintains the option to acquire a license to a limited part of Kambi’s online and retail technology source code. Meanwhile, White Hat Gaming will provide Bally’s with its PAM platform solution, including its proprietary cashier, multiple RGS integrations, managed services, and its traveling wallet™.
Bally’s CEO Robeson Reeves said the company is excited to have entered into long-term agreements with Kambi and White Hat Gaming, two of the world’s most established and trusted gaming technology companies. Reeves said that “by incorporating Kambi’s award-winning sportsbook with White Hat Gaming’s PAM platform solution, as well as Bally’s geographic reach, customer base, and marketing prowess, the company will be optimally positioned to achieve significant scale and capture substantial market share in the global gaming market.“
Kristian Nylén, CEO and co-founder of Kambi, said that this powerful collaboration with Bally’s will deliver its customers the next generation betting entertainment they demand. Meanwhile, Phil Gelvan, CEO of White Hat Gaming, said that Bally’s vision for growth and diversification complements that of White Hat Gaming, and their core technology, including their best-in-class PAM solution, will enhance the Bally’s experience and player engagement.
Relaunch of Bally Bet: the implications
These partnerships will have a significant impact on the iGaming industry. Firstly, Bally’s will have a larger and more integrated presence in the online sports betting market, making it more competitive. Secondly, the partnerships will create more opportunities for Bally’s to expand its OSB presence globally over time.
Finally, the cost savings generated by shifting to a variable cost structure will enable Bally’s to focus more on delivering results to investors, positioning it as a premier, full-service, vertically integrated casinos and resorts, online sports betting, and iGaming company.