Affiliate Industry
BALLY’S ENTERS INTO MERGER AGREEMENT WITH AFFILIATES OF STANDARD GENERAL L.P.

Bally’s Corporation announced that it has entered into a definitive merger agreement (the “Merger”) pursuant to which Standard General L.P. (“Standard General”), the Company’s largest common stockholder, will acquire the Company’s outstanding shares for $18.25 per Bally’s share (the “Cash Consideration”). The price represents a 71% premium over the Company’s 30-day volume weighted average price per share as of March 8, 2024, the last trading day before the public disclosure of Standard General’s initial cash acquisition proposal of $15.00 per share. In lieu of receiving the Cash Consideration, Bally’s stockholders may elect to retain all or a portion of their Bally’s stock by means of a rollover election. Bally’s stockholders electing to retain all or a portion of their Bally’s investment will continue as stockholders of the Combined Company (as defined below). The transaction values Bally’s at approximately $4.6 billion in enterprise value. The Combined Company will remain a publicly traded registrant under the Securities Act of 1934.
Pursuant to the Merger, Bally’s will combine with The Queen Casino & Entertainment Inc. (“QC&E”), a regional casino operator majority-owned by funds managed by Standard General (together, the “Combined Company”). QC&E is a regional gaming, hospitality and entertainment company that currently owns and operates four casinos across three states, including DraftKings at Casino Queen in East St. Louis, IL, the Queen Marquette in Marquette, IA, and the Queen Baton Rouge and the Belle of Baton Rouge in Baton Rouge, LA. QC&E is in the process of executing on transformational redevelopment projects at two of its four properties which are expected to be completed in 2025 and generate meaningful organic growth. The combination will expand the Company’s Casino & Resorts segment to 19 gaming, entertainment and hospitality facilities across 11 U.S. states and enhance the Company’s development pipeline with several exciting projects.
Jaymin Patel, Chairman of the Special Committee, said, “After a detailed consideration by the Special Committee, with the assistance of our outside financial and legal advisors, it was determined that the Cash Consideration from Standard General delivers a meaningful and immediate value to stockholders. We look forward to working with the team at Standard General and QC&E as we move through the process to complete the merger.”
Robeson Reeves, Bally’s Chief Executive Officer, said, “Our team is well positioned to continue to execute on our initiatives to drive growth across all our segments including in our International Interactive business, North America Interactive and our Casinos & Resorts (“C&R”) segments, while proceeding with our development pipeline, including construction of our permanent casino resort in Chicago, for which we recently announced a comprehensive financing plan. The addition of four complementary properties through this merger to our existing 15 domestic casino properties will add further geographic and market diversity to our portfolio. With QC&E’s development pipeline recently completed or already well underway, we see a path toward additional revenue and EBITDAR growth and value accretion as those projects are completed in 2025. We look forward to bringing our ultimate vision to bear and to working closely with the Standard General team to execute on that vision.”
Soo Kim, Managing Partner of Standard General, said, “The Transaction provides Bally’s stockholders with a significant cash premium along with certainty of value for their investment or, if they elect to retain their shares, the opportunity to participate in the longer-term growth prospects of our expanded portfolio and significant development pipeline. The addition of the complementary QC&E assets builds upon the Company’s attractive growth profile. We look forward to working with the Board of Directors and the Company’s senior management team as they continue to execute on their business plan.”
In connection with the transaction, in addition to Standard General, Sinclair Broadcast Group, Inc. (“Sinclair”), and Noel Hayden have committed to support the Merger and to make rollover elections. As a result, at least 47% of Bally’s outstanding fully-diluted equity interests will be rolled over into the Combined Company.
A special committee of independent and disinterested directors (the “Special Committee”) of Bally’s Board of Directors, which has been advised by its own independent financial and legal advisors in evaluating the Merger and the Cash Consideration, determined that the Merger is in the best interest of Bally’s and its stockholders (aside from Standard General, Sinclair and Noel Hayden) and unanimously recommended that the Company’s Board of Directors approve the Merger. Acting upon the recommendation of the Special Committee, Bally’s Board of Directors approved the Merger and recommends that stockholders approve the Merger. The factors considered by the Special Committee in arriving at its unanimous decision will be outlined in public proxy filings to be made by Bally’s. The Bally’s Special Committee and Board of Directors are making recommendations with respect to the Cash Consideration and are not making recommendations with respect to the rollover election.
Affiliate Industry
Affiliates in the US Sports Betting Market – Has The Game Gone Cold?

A lot has changed since the US Supreme Court struck down PASPA (The Professional and Amateur Sports Protection Act of 1992) as being unconstitutional, effectively ending Nevada’s near-monopoly on sports betting in the country. With every US state now free to legalize and launch its own sports betting market, in-person, online, and mobile sports betting grew at a neck-breaking pace.
This explosive growth saw the emergence of ‘affiliate companies’ – marketing agencies specializing in performance marketing and promoting licensed sports betting operators. However, as the market entered a new phase and growth slowed, some affiliates have been seeing mixed results in the past year.
We sat down for a chat with Shmulik Segal, Founder and CEO of Media Troopers, an advertising agency specializing in sports betting and iGaming in North America, to hear his views on the gambling marketplace and what the future holds for affiliates. Segal takes a realistic approach and acknowledges the days of insatiable growth are gone, but he still sees great potential in the market.
Looking at the bigger picture, how bad were things for affiliates in the past year?
Segal: “I won’t tell you the past year hasn’t been challenging for marketing agencies like ourselves. Looking at 2024 earning reports of publicly traded marketing agencies in the gambling industry, the results are a mixed bag, Segal says. “While some of the largest players in the space saw their US revenues drop by over a third compared to 2023, the earnings of others just flatlined.”
What causes you to be optimistic then?
“But on the flip side of the coin, there were also companies that saw double-digit growth in earnings,” Segal compares. “So what does that mixed bag of results tell us? Although the days of explosive growth are over, the market is certainly not on a one-way street. I still see tons of opportunities for companies that are adjusting and doing the right things.”
So what are the main challenges the affiliate market is facing?
“I can divide the challenges into two main categories: objective and subjective. Objective categories would be anything that’s ‘man-made’, such as legislation (new states that open up), increased regulation (restrictions on advertising, increased taxation), the evolution of technology (Artificial Intelligence and further mobile personalization), competition (both operators and other marketing channels and companies), and all other factors that are created by governments, companies, and individuals,” he explains.
“The subjective factors are more geographical or permanent. Let’s take sports betting as an example. According to the American Gaming Association’s state tracker, Out of 51 potential jurisdictions across the country (50 states + Washington DC), 38 have legalized sports betting. However, only seven states have legalized iGaming.”
So, how do you treat these challenges differently?
“As an affiliate, you understand the fundamental difference between the two types of challenges: your level of control. While you can mitigate objective challenges, you must adapt to subjective ones.”
How do you stay relevant as an affiliate amidst these challenges?
“The first thing we must always keep in mind is that we make a living out of providing our customers with additional value, i.e. unique knowledge and expertise that the operator doesn’t have and fits perfectly into its marketing mix. We must provide our customers with a competitive, cutting edge.”
“Case in point: we constantly strive to be ahead of the curve in everything we do. Our technology platform constantly adapts and upgrades to include more powerful AI tools for segmentation, targeting, and personalization. A huge part of our media teams’ job is to look for the ‘next big thing’ be it a fresh marketing channel or a new source that will enable us to expand our reach and tap into new markets.
Our commercial teams work closely with existing and potential operators to find new ways to bring value to players, be it new games, news, or promotions. And it goes without saying that our compliance team takes great care of ensuring we adhere to the highest standards of safe advertising and responsible gaming.”
“But no less important,“ he concludes, “is the operations team that ties all the pieces together and executes everything. That’s one of the biggest challenges, given operations can be slow-moving, we constantly need to improve our execution to keep up with the changes the other parts of the team bring.”
What about other types of challenges? The ones you can’t mitigate?
“When it comes to subjective challenges, however, you have much less control, and this is where companies must brace themselves and adapt quickly. Case in point, there are 38 sports betting states, while a portion of the remaining ones, such as Hawai, Utah, Texas, and California, won’t introduce sports betting or iGaming in the foreseeable future.
With fewer states regulating gaming in the foreseeable future, is the market bound to shrink?
“I don’t see it that way. Long gone are the days when a new market opened every few months. What would you do? You can’t ‘magic up’ more states. But you can certainly adapt and brace yourself to improve and grow your share in existing markets, which is exactly what we are focusing on doing,” he explains. “Along with acquiring new players through new and existing markets, we are constantly looking for new channels that will bring our customers (operators) loyalty and higher lifetime value.”
You are talking about increasing share and value, does that mean there are no new opportunities?
“We see huge potential, with opportunities constantly coming to knock on our door. North Carolina and Vermont were the two new markets that launched in 2024, and we are already seeing a lot of growth there. For example, North Carolina, which only went live with sports betting in March 2024, but by the end of the year, already clinched ninth place in the Top 10 sports betting states, reporting revenues of over $583.
This is why we treat every state as a standalone ecosystem with its unique set of challenges, requirements, and potential. The next exciting challenge (and opportunity) we are preparing for is Missouri, which legalized sports betting at the end of 2024 but has yet to launch. We have already been hard at work since the ballot was approved in November, so we can hit the ground running and start sending our MO sportsbook partners newly depositing customers from day one.
What about organic growth in existing markets?
“There’s certainly that also. While every new state that launches sports betting can potentially bring a spike in growth, we are certainly seeing organic growth and improved results across the board year after year. Take as an example the Super Bowl. In 2025, legal US bets on the Super Bowl grew 10% year-on-year. Or March Madness, on which best are expected to grow 13% from last year.
So, is there still organic growth in existing markets? For us, it’s a big, fat yes.”
Are you planning on staying within the iGaming and sports betting markets in the near future?
“That’s a very good question I ask myself every day, Segal smiles and immediately corrects himself. “Actually, scratch that. I ask myself this question many times over the course of a day in the office.”
He elaborates: “iGaming is tangent to other gaming verticals, and sports betting has an overlap with a whole universe of sports and its related verticals. Every website in these verticals needs traffic, and we know how to provide it. So new opportunities knocking on our door. But how do we capitalize on these without losing our focus and commitment to our core business? We keep our ears and eyes open, but never lose focus.”
Affiliate Industry
MetaBet inks Gentoo Media partnership to enhance flagship sites

MetaBet, the pioneering provider of sports betting engagement tools, has partnered with Gentoo Media, a leading affiliate, to integrate its cutting-edge sports betting widgets into two of Gentoo’s flagship websites, World Sports Network (WSN) and Time2play.
MetaBet’s proprietary widgets are designed to nurture engagement, increase sportsbook conversions, and maximize affiliate revenue, all through seamless integration with just one line of code. With market-setting load speed and contextual placements, MetaBet’s products will empower Gentoo to focus on what they do best.
WSN and Time2play are trusted platforms for sports betting and casino enthusiasts in the US and Canada. Between them, they have captured an audience of millions of sports fans on the back of expert reviews, exclusive offers, and accurate content. As Gentoo amplifies its presence in the US, MetaBet’s innovative technology will be a key element in their success.
MetaBet Founder, Mark Phillip, said: “Partnering with Gentoo Media, a data-driven company with a new name but long track record, is a testament to our market-leading status. Our technology, leveraged through their trusted platform will enhance engagement and conversions to accelerate Gentoo’s growth strategy within the US and beyond.”
Affiliate Industry
AGS Announces Expiration of Hart-Scott-Rodino Act Waiting Period for Acquisition by Affiliates of Brightstar Capital Partners

PlayAGS, Incorporated (NYSE: AGS) (“AGS” or the “Company”), a global gaming supplier of high-performing slot, table, and interactive products, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), in connection with the previously announced agreement for the Company to be acquired by affiliates of Brightstar Capital Partners (“Brightstar”) for $12.50 per share in cash (the “Proposed Transaction”).
The HSR Act waiting period expired at 11:59 p.m., Eastern Time, on December 9, 2024, satisfying an important condition necessary for the completion of the Proposed Transaction, which is expected to close in the second half of 2025, subject to other conditions and regulatory approvals.
-
Gambling in the USA5 days ago
Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia
-
Canada4 days ago
GiG Launches Fourth Partner into Ontario as PowerPlay Enhances Its Gaming Experience with GiG’s Formidable Combination of Proprietary Platform, Sportsbook and AI technology
-
Compliance Updates4 days ago
SOFTSWISS Jackpot Aggregator Expands in LATAM with Peru Certification
-
Latest News4 days ago
1/ST CONTENT broadens its South American reach in new LATAM deal with America Simulcast and Sportbet
-
Latest News5 days ago
Amusnet’s Global Expansion Continues with Meridianbet’s Launch in Brazil
-
Conferences4 days ago
WA.Technology to accelerate operators’ Brazilian growth at SiGMA Americas
-
Latest News4 days ago
From $400M to $1.45B: Exploring Gurhan Kiziloz’s Strategic Expansion in Online Gaming
-
partnerships2 days ago
Delaware Park Converts from VizExplorer to Quick Custom Intelligence’s (QCI) Enterprise Platform