American casino operator Bally’s Corporation has announced the signing of a definitive agreement that is to see it acquire prominent digital gaming and daily fantasy sports provider Monkey Knife Fight.
Previously known as Twin River Worldwide Holdings Incorporated until undergoing a name-change late last year, the Providence-headquartered firm used an official press release to detail that this all-stock arrangement will result in it becoming just the third sportsbetting operator in the United States to enter the daily fantasy sports segment. It moreover declared that the coming purchase will complement its pending takeover of digital technology and services enterprise Bet.Works Corporation and help it to further diversify its portfolio so as to become the nation’s ‘first truly vertically integrated sportsbetting and iGaming company.’
Bally’s Corporation described Monkey Knife Fight as ‘the third-largest daily fantasy sports operator in North America’ courtesy of its roster of 180,000 registered users and 80,000 depositing players. It also proclaimed that the operator offers ‘a dynamic and creative slate’ of contests and is currently holding down sixth spot on the list of most-searched sports and entertainment brands.
George Papanier serves as President and Chief Executive Officer for Bally’s Corporation and he used the press release to explain that Monkey Knife Fight and its player database are to become a part of his firm’s new Bally’s Interactive division and assist this vehicle in creating a future sportsbetting service for aficionados in large American states such as California, Texas and Florida. The boss pronounced that the acquisition will additionally aid his company’s envisioned expansion efforts in Canada while simultaneously allowing it to develop ‘new and engaging content.’
Read a statement from Papanier…
“With this acquisition, we are pleased to enter into the high-growth daily fantasy sports market. Monkey Knife Fight is a unique asset that we look forward to incorporating into our constantly growing omni-channel portfolio of land-based casinos and iGaming platforms. As with all of the properties and services that fall under our iconic brand, we are committed to providing a best-in-class daily fantasy sports platform to sports fans around the country.”
Bally’s Corporation is responsible for eleven land-based casinos including the giant Bally’s Atlantic City and Eldorado Resort Casino Shreveport properties and it stated that this transaction is expected to close by the end of March ‘subject to customary closing conditions’ with investors in Monkey Knife Fight being offered the chance to purchase up to $90 million of its own stock over the course of the next three years.
Papanier’s statement read…
“The acquisition of Monkey Knife Fight will allow us to leverage both our current customer database as well as daily fantasy sports’ collection of depositing players. These assets will also provide us with a significant advantage in launching our own business-to-consumer sportsbetting operations.”