The new Bally’s Corporation announced a partnership with Fox Sports Midwest Wednesday that will promote betting during sports broadcasts, even allowing an interactive experience for gamblers.
According to a St. Louis Post-Dispatch report, Sinclair Broadcasting, the group that owns Fox Sports Midwest, will pay Bally’s $85 million over 10 years for the partnership and Fox Sports will be renamed to something that showcases the Bally’s brand. Sinclair will receive a “small stake” in Bally’s in return.
“This arrangement represents an opportunity to revolutionize the U.S. sports betting, gaming and media industries,” said Soo Kim, Bally’s chairman in a statement. “[This will be] positioning Bally’s to become one of the top U.S. sports betting and IGaming operators.”
Up until last month, the Bally’s brand was owned by Caesars entertainment. In mid-October, Caesars sold the brand to Twin River Worldwide Holdings, a Rhode Island-based casino company. Before buying the brand and changing its name, the company expanded into New Jersey, Colorado, Missouri, Mississippi and Delaware over the last few years.
Once the deal is finalized and the TV station is renamed, the company is expected to create and integrate software that will allow bettors to place wagers through their television or mobile device. Aside from bets on the event’s outcome, the company will also list a “wide array” of prop bets for gamblers to choose from.
Fox Sports Midwest mostly serves the St. Louis market. While sports betting hasn’t been legalized in Missouri, the city is very close to the border and most of southern Illinois will be lumped into that market as well. Illinois is one of the biggest sports betting markets in the country behind Nevada and New Jersey.
The network also reaches households in Iowa and Indiana, two other states where sports betting is legal.
“Consumers of live sports in the future can look forward to a more dynamic and engaging sports viewing experience,” said Sinclair President and CEO Chris Ripley in a statement. “This partnership perfectly positions our sports portfolio to fully capitalize on changing audience behavior.”
Ripley echoes a sentiment shared by Major League Baseball Commissioner Rob Manfred, who said that the league sees sports betting as a “great source of fan engagement.”
Bally’s doesn’t currently own a casino in Illinois, Indiana or Iowa, but acquired Bet.Works for $125 million the same day it finalized the deal with Sinclair. The acquisition should help the company provide sports betting in those states.
Both Bally’s and Sinclair said that the betting-centric telecasts will only be broadcasted to areas where sports betting is allowed.
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