ATLANTIC CITY, NJ – Bally continued its acquisition juggernaut on Monday, acquiring fantasy sports company Monkey Knife Fight into an all-share transaction that further expands the company’s rapidly expanding efforts to add casinos, online sports betting and media companies.
Providence, Rhode Island-based Bally’s, along with DraftKings and FanDuel, has become the third American sports betting company to be part of everyday fantasy sports.
Bally’s has been bursting in recent months, adding gambling and media qualities as it seeks to become a major national player.
“With this acquisition, we are excited to enter the high-growth market (day fantasy sports),” said George Papanier, president and CEO. “Monkey Knife Fight is a unique asset that we look forward to incorporating into Bally’s ever-growing portfolio of land-based casinos and iGaming platforms.”
Bally’s recent moves include the purchase of the Bally Casino in Atlantic City, a media partnership with the Sinclair Broadcast Group, and the pending acquisition of Bet.Works.
The company plans to integrate Monkey Knife Fight’s geographical presence in 37 states, Washington, DC and Canada, into Sinclair’s portfolio of 21 regional sports networks.
Fighting Monkey Knife has about 180,000 registered users, of whom 80,000 have made cash deposits to play.
Papanier said Monkey Knife Fight will support Bally’s plans to develop a database of leads in countries that have not yet adopted sports betting but are considered lucrative potential markets, including California, Florida and Texas, as well as Canada.
The agreement is expected to be concluded in the first quarter of 2021.
Follow Wayne Parry at http://twitter.com/WayneParryAC.