The guessing game regarding the future name of Bally’s Atlantic Cityis officially over.
Even though Bally’s Atlantic City is one of Caesars’ flagship hotels located within the borders of the state, the resort lacks a Bally’s-branded online casino site. This situation is all the more confusing due to the fact that the company has already received two separate New Jersey gambling licenses. Bally’s Casinos will run the company’s physical properties while Bally’s Interactive will cover sports betting, iGaming, and Bet.Works’ existing operations. Becoming Bally’s The Bally’s name has been shuffled around the industry for many years now. 2020 continued that trend when Twin River Worldwide Holdings purchased the Bally name.
Throw out the piece of paper with those creative names. The iconic gaming brand is not being removed from the building anytime soon.
Twin River Worldwide Holdings, which is in the process of completing the purchase of the 40-year-old property from Caesars Entertainment, is purchasing the Bally’s name.
The Rhode Island-based company announced today via press release that it has purchased the Bally’s brand previously owned by Caesars. But this deal expands far beyond the AC market as the agreement enables Twin River to rebrand virtually all of its portfolio properties under the Bally’s name and logo.
This is a very big deal as there are only two casinos nationwide currently using the Bally’s name. One is in AC, and the other is on the Las Vegas Strip.
Caesars Entertainment is maintaining ownership of the latter property as Twin River will provide a perpetual license to continue using the Bally’s name.
The release does not include financial terms of the agreement.
Bally’s is a brand Atlantic City customers know
Since announcing the purchase agreement earlier this year, Twin River shared some details regarding plans to put Bally’s back into the Atlantic City spotlight.
And the property desperately needs some TLC, especially on the gaming side.
In terms of monthly casino win, the property has earned $58.1 million year to date, which ranks eighth among the nine license holders. Golden Nugget has reported $56.2 million in land-based revenue. Keep in mind these totals have been greatly impacted by Atlantic City casinos being closed for 100-plus days.
Those familiar with Atlantic City history likely recall the days when Bally’s was the top-performing property. If Twin River makes significant capital improvements to the aging building, guests will likely be willing to give it another try.
Rolling out a new name would require putting together a brand marketing campaign that may or may not attract customers. Remember Revel?
Twin River, for its part has experience with rebranding properties. After purchasing the Lady Luck Casino in Mississippi, the property named changed to Casino Vicksburg. And the former Isle of Capri Casino in Kansas City is currently known simply as Casino KC.
With that in mind, Casino AC is missing something.
And with a portfolio that currently includes nine casinos, one universal name makes the most sense.
Plus Bally’s is a name Atlantic City visitors know well. It has been around since December 1979, and is only predated by Resorts (May 1978) and Caesars (June 1979).
So keeping the Bally’s name is a no-brainer, especially when it comes to an established gambling destination like AC.
Twin River & Caesars deal is still pending
Caesars continues to own and operate the property until the licensing and regulatory process is completed. The Casino Control Commission canceled its October meeting, which means Nov. 18 is now the earliest date a hearing could take place.
The sale is expected to be completed this year.
However, the deal is one step closer to the finish line. During the September Casino Reinvestment Development Authority (CRDA) meeting, the board approved a request dividing the land lots. This means the William Hill Sportsbook at Wild Wild West and casino floor will remain part of Caesars while Bally’s new owner will keep the parking garage.
Twin River, of course, will not be sitting on the sidelines.
What about a Bally’s NJ sportsbook app?
Look at the current list of 18 NJ sportsbook apps.
In terms of NJ sports betting, there are a handful of AC casinos missing a self-branded sportsbook. Bally’s is one of those properties. Twin River has announced partnerships with Esports Entertainment Groupand Sporttrade.
So if the company is making a significant investment in the Bally’s name, one would expect it to extend it to the online gambling side. And the platform will likely be integrated with a Bally’s online casino product.
No matter this part of the plans unfold, the Bally’s name is a keeper at Park Place and Boardwalk.
In press releases made one after the other, Bally’s Corporation acquired sports betting platform Bet.Works, and reacquired its Atlantic City location. By taking over Bet.Works, Bally’s is cementing a move into the online gambling sector — a venture the company has previously discussed, and is now realizing. To concretize its confidence, Bally’s also bought back its Atlantic City casino from its previous owners, Caesars and Vici, stating that it intends to revitalize the location.
Bally’s is buying back its famous Atlantic City location. ©OlyaLole/Pixabay
Bally’s And Bet.Works
In mid-November, Bally’s Corporation unveiled that it had acquired online betting site Bet.Works, which offers online sports betting to users in Colorado, New Jersey, Indiana, and Iowa. The sale was finalized to the tune of $125 million, though the amount may be adjusted over time.
Inspired by the sale, Bally’s is launching its B2B2C business model — a wholly unique option in the gaming industry. As reports demonstrate from the company, the last two years, even before the pandemic, saw Bally’s working to dramatically expand its national presence both virtually and physically.
Branching Into New Sectors
The acquisition of Bet.Works marks Bally’s first, confident foray into the online gambling sector. As such, the company is making a radical move: splintering its business into two factions, which will be called Bally’s Casino and Bally’s Interactive. This indicates that this deal is just the first from Bally’s, and more, similar moves are likely to follow.
The First Of Its Kind?
According to a press release issued by the company, Bally’s acquisition of Bet.Works marks the first time that a land-based casino option in the United States has offered both IRL gambling in casinos and a robust online gaming solution — however, it’s quite likely that the organizing team at MGM’s online gaming vertical, BetMGM, would disagree.
No matter the veracity of Bally’s bold assertion, the fact remains that the company is smart to continue diversifying its options, particularly with a strong shift towards online gaming. MGM itself has demonstrated that its online gambling wing has allowed the company continued hope even during these challenging times in its recent Q3 reports.
The culmination of the third fiscal quarter revealed that MGM’s land-based holdings had significantly suffered — not exactly a surprise, given that the company had to publicly announce layoffs of more than 18,000 employees more than 18,000 employees this fall — but its online options stayed strong, with promising new partnerships with companies like PGA and VSiN.
Bally’s Envisioned Expansion
In addition to growing a strong online arm, Bally’s is currently in talks to grow its US casino holdings to a total of 14 casinos nationwide, with presences in 10 American states. One such location its Bally’s iconic Atlantic City casino, which has, until this point, been owned by Caesars and Vici.
Buying Back An Atlantic City Icon
Simultaneously, Bally’s announced that it had reacquired its namesake storefront on the iconic Atlantic City boardwalk, a location known as Bally’s Atlantic City Hotel & Casino. Prior to this point, the location had been owned by Caesars and Vici. The sale closed at around $25 million, with Vici receiving 75% of the sum and Caesars receiving 25%.
Free Bally Games
About the deal, Bally’s CEO and President George Papanier confidently asserted that this deal marks Bally’s triumphant return to its former status at the top of the American gambling industry. He went on to explain that the company — as demonstrated by the Bet.Works partnership — is diversifying its revenue stream.
The Casino Comes With iGaming Options And Sports Betting
Bally’s is already growing its online gaming presence by buying back its Atlantic City casino. With this deal, Bally’s is claiming ownership of three sports betting outposts and five iGaming branches operational in New Jersey. The sports betting wings are run by Esports Entertainment Group and Sporttrade Inc. PointsBet and theScore run the iGaming.
Bally S Online Casino Nj
Striking While The Iron’s Hot
Bally's Online Casino In Nj
Bally’s is growing its presence in the American gambling industry right as — against the challenges of the ongoing pandemic — it is continuing to make a strong reemergence, now with more online options than ever before. According to recent reports, the American sports betting market alone could make as much as $50 billion annually once it matures.
Bally Online Casino
The move into online gaming is, of course, a wise one, given the ongoing pandemic and the uncertain future of land-based gambling options, at least in the immediate. In the meantime, the legal American gambling industry has blossomed, with a wave of new, lenient regulations allowing for iGaming growth in just the last few weeks.