Press Releases
BALLY’S CORPORATION TO ACQUIRE PREMIER U.S. REGULATED SPORTSBOOK TECHNOLOGY PLATFORM BET.WORKS
Proprietary Technology Stack Key Step In Bally’s Transformation To Become Premier Vertically Integrated Omni-Channel U.S. Gaming Provider
Acquisition Enables Significant Expansion of Sports Betting and iGaming Initiatives
Bally’s Corporation announced that it has entered into a definitive agreement to acquire Bet.Works, a U.S. based, sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado, for $125 million, subject to adjustment. Upon acquiring Bet.Works’ proprietary technology stack and turnkey solutions, which include marketing, operations, customer service, risk management and compliance, Bally’s will become the premier, full-service, vertically integrated sports betting and iGaming company in the U.S. with physical casinos and online gaming solutions united under a single, preeminent brand, thus enabling it to launch its B2B2C business model.
Half of the Bet.Works purchase price will be paid in Bally’s common stock, which Bet.Works shareholders have agreed to hold for at least a year.
The Bet.Works acquisition represents the latest step in Bally’s long-term growth, development and unification strategy. Over the past two years, Bally’s has engaged in strategic and opportunistic expansion of its gamingand entertainment properties, which will include14 casinos across 10 states once all pending transactions are completed. In addition, Bally’s recently acquired its iconic brand, which is synonymous with U.S. gaming and entertainment, and commensurate with the premier properties and amenities that define the Company’s portfolio.
The Bet.Works acquisition, which complements these initiatives, will provide Bally’s with a suite of advanced omni-channel products, platforms, software and content solutions that will enable it to deliver unrivaled sports betting and iGaming offerings to customers on a national scale. According to investment research by major Wall Street analysts and management estimates, the U.S. sports betting and iGaming market is expected to grow to $12 billion by 2025 and reach $50 billion at maturity. Bally’s estimates that the U.S. sports betting and iGaming market will reach $2.6 billion this year.
“This is the next step in our Company’s evolution,” said Soo Kim, Chairman of Bally’s Corporation’s Board of Directors. “By combining our expanding national footprint of casinos, the recently acquired Bally’s brand, and Bet.Works’ proprietary technology stack, we have evolved in just a few short years from a regional casino operator into the first U.S. gaming company committed to serving our customers with an omni-channel approach, combining the best of our physical properties with a superior online experience.”
Following the acquisition, Bally’s will form two distinct operating divisions: “Bally’s Casinos,” which will be comprised of Bally’s physical gaming and entertainment properties, and “Bally’s Interactive,” which will include new and existing contracts for sports betting and iGaming, including all of Bet.Works’ sports betting operations.
George Papanier, President and Chief Executive Officerof Bally’s Corporation, commented, “We are very excited to welcome Bet.Works to the Bally’s family. Owning Bet.Works’ superior technology platform will not only give Bally’s a long-term margin advantage online, but, more importantly, will also allow us to evolve our interactive product suite to go where sports betting and iGaming customers are headed quickly. David Wang and his team at Bet.Works have already demonstrated impressive growthand the ability to execute while creating a differentiated platform. We are very pleased to bring this technology to our more than 14 million active customers who will experience Bally’s Casinos and Bally’s Interactive as a unified brand with a single player card and rewards system.”
David Wang, Founder and CEO of Bet.Works, will serve as the CEO of Bally’s Interactive upon closing the transaction. Bally’s Interactive will integrate Bet.Works’ experienced team of over 130 employees across three offices, including approximately 90 engineers, into its interactive operations. Bally’s Interactive also plans to open a technology development center in Rhode Island by the end of 2021, initially with 25employees.
Wang stated, “We are pleased to be joining the Bally’sfamily, which has demonstrated a remarkable trackrecord of growthand diversification with a proven management team. We remain committed to creating the world’s best sports entertainment products, as well as delivering innovative and exciting solutions for sportsbetting and iGaming consumers across Bally’s national footprint. Bet.Works will continue to offer our best in class solutions to our existing B2B clients and our future partners in the U.S. market as we expand our reach into newly regulated states. Our turnkey solutions, which include Marketing, Operations, Customer Service, Risk Management and Compliance, combined with our dedicated launch teams, will ensure we maintain a leading position in the B2B sector while powering Bally’s Interactive. Bally’s is the perfect home for Bet.Works as it will allow us to continue to grow and innovate.
Bally’s expects to close the transaction during the first quarter of 2021, pending regulatory approval and other customary closing conditions.
Intralot S.A. informs the investor community and its stakeholders that on July 15, 2025 the Maryland Lottery and Gaming Control Commission approved the recommendation to award a new Lottery Central Monitoring and Control System (LCMCS) contract to its US subsidiary, Intralot, Inc. following a competitive bidding process.
The vendor awarded the contract will manufacture the counter terminals and self-service vending machines that sell tickets at 4,300 Maryland Lottery retailer points of sale; develops the software that runs the system’s sales and accounting functions; and provide numerous related services that are necessary to operate the Maryland Lottery. The term of the contract is 10 years with a possible 5+1 year extension.
As part its proposal to the State, Intralot has engaged nine local business enterprises (MBE) to service the Maryland Lottery contract. Historically, vendors have used fewer MBE partners, but Intralot believes its new approach will create far greater opportunities for local communities.
Intralot’s financial proposal corresponds to a total estimated contract term price of $260,393,946.
The Gaming Control Commission’s approval is an intermediary step in the award process for
approving any future contract.
Latest News
Spinomenal Goes Live Across Caesars Entertainment’s Marquee Online Casino Brands in New Jersey
Spinomenal, a leading content provider in iGaming, has launched its online casino titles on Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino in New Jersey, as part of its United States expansion strategy. This collaboration brings Spinomenal’s top-performing titles – along with exclusive titles like Hut with Chicken Legs and Majestic Claws – online for New Jersey players 21 and older via the Aristocrat Interactive platform.
These games are designed to convey rich storytelling, striking visuals, and high entertainment value, aligning perfectly with Caesars’ commitment to offering best-in-class experiences to its players. This strategic expansion reinforces Spinomenal’s commitment to delivering top-tier gaming experiences in New Jersey. With the growing demand for cutting-edge online casino content, Spinomenal is strengthening its foothold in the state while further establishing itself in the broader U.S. market.
Yossi Shayovits, Head of Business Development for Spinomenal commented: “We’re incredibly proud to launch this content partnership with Caesars Entertainment, a true titan of the gaming and entertainment world. Combining our standout slot portfolio with the prestige, trust, and reach of the Caesars brand sets the stage for a powerful, long-term success story for both sides.”
Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital added: “We’re pleased that our players in New Jersey can now enjoy Spinomenal’s captivating titles on our iGaming platforms. This addition enhances our ever-growing catalogue of games, ensuring a dynamic and engaging experience for our users. We’d like to thank our partners at Spinomenal for their support in delivering an unparalleled online casino experience.”
Latest News
Caesars Entertainment and Bread Financial Introduce New Caesars Rewards® Prestige Visa, a Premium-Level Credit Card Allowing Caesars Rewards Members to Earn Tier Status Faster and Unlock Luxury Rewards with Every Purchase
Caesars Entertainment (NASDAQ: CZR), the largest casino entertainment company in the U.S., is playing a bold new hand by launching a second, elevated, Caesars Rewards® Visa Signature credit card with Bread Financial (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions. For a $149 annual fee*, the Caesars Rewards Prestige Visa Signature credit card includes up to $450 in annual value and gives members all the benefits of high-end experiences as well as waived fees for foreign transactions*.
Cardmembers will receive Prestige Perks worth up to $450 and redeemable annually across Caesars’ 50+ U.S. destinations, including:
- A complimentary hotel night upon anniversary (up to $300)*
- $50 Slot Play*
- $100 Caesars dining credit*
- Accelerated earn rates for Caesars Rewards destinations at seven Reward Credits® per $1 spent*
“Caesars Entertainment has always been about giving our members unmatched access to the best experiences in the industry,” said Josh Jones, chief marketing officer at Caesars Entertainment. “Through our world-class Caesars Rewards program and our relationship with Bread Financial, we’re expanding the ways our members can earn and enjoy perks—from one-of-a-kind experiences, exceptional dining options, accelerated status opportunities and more – this new card option brings even more excitement, value and VIP treatment to every guest staying and playing with Caesars Entertainment.”
“The Caesars Rewards Prestige Visa credit card gives cardmembers more ways to earn rewards immediately on everyday purchases and unlock exclusive perks on travel, entertainment, dining and gaming —making every tap a step closer to their next unforgettable Caesars experience,” said Val Greer, EVP and chief commercial officer at Bread Financial. “This new credit card offers Caesars’ most dedicated members additional opportunities to make each purchase even more rewarding.”
Additionally, the credit card provides more ways to earn Tier Credits through welcome offers and annual bonuses, enabling members to achieve their Caesars Rewards loyalty program tiers faster. New cardholders can earn up to 25,000 additional Tier Credits in their first year*.
Welcome Offer
- Platinum Status upgrade*
- 2,500 Tier Credits after first purchase outside of Caesars Rewards destinations*
- 20,000 Reward Credits and 2,500 Tier Credits after $1,000 spend outside of Caesars Rewards destinations*
Annual Bonuses
- 2,500 Tier Credits with $5,000 annual spend + another 2,500 Tier Credits with $10,000 annual spend*
- 15,000 Tier Credits with $50,000 annual spend*
The new credit card adds to the existing Caesars Rewards Visa suite, including the Caesars Rewards Visa Signature Credit Card. Whether members are gaming, dining, or on the go, Caesars and Bread Financial have cardmembers covered with two distinct credit card programs to choose from and limitless ways to earn. The Caesars Rewards Visa card has also been elevated with a sophisticated new black design, bringing a sleek, modern edge to a card that delivers everyday perks with timeless luxury.
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