A view of Cleveland’s downtown district from its harbor, with the world-famous Rock and Roll Hall of Fame situated to the left, in front of tall buildings and skyscrapers in the background.

Bally’s Launches Sportsbook App in Ohio

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has joined forces with the NFL’s Cleveland Browns to introduce the updated Bally Bet Sportsbook app in Ohio, coinciding with the kickoff of the football season. Developed in collaboration with technology firms White Hat Gaming and Kambi Group, the app features technology aimed at delivering an optimal betting experience.

A view of Cleveland’s downtown district from its harbor, with the world-famous Rock and Roll Hall of Fame situated to the left, in front of tall buildings and skyscrapers in the background.

Bally’s Interactive, the digital and sports betting arm of Bally’s Corporation, has combined forces with the NFL’s Cleveland Browns to introduce the new and improved Bally Bet Sportsbook app to Ohio.
©DJ Johnson/Unsplash

Users Who Register During Opening Weekend of NFL Season Get Chance to Win Browns Tickets

Bally’s Interactive, the digital and sports betting arm of Bally’s Corporation, has forged a partnership with the NFL’s Cleveland Browns to launch the redesigned Bally Bet Sportsbook app in Ohio, perfectly timed with the kickoff of the football season.

Developed in collaboration with gaming technology firms White Hat Gaming and Kambi Group, this revamped app incorporates “proven technology to deliver an optimal sports betting experience” to Browns fans and sports enthusiasts across Ohio.

The Bally Bet Sportsbook app introduces a wide array of betting choices, encompassing options like point spreads, money lines, total bets, and same-game parlays. Furthermore, the collaboration outlines plans for a physical sportsbook venue in collaboration with Bobby George and Ethos Hospitality.

To commemorate the app’s debut, Bally Bet is extending a special offer to new users. Those who download and register on the app during the opening weekend of the season will automatically enter a drawing for a chance to win two premium tickets to the next Browns home game, adding an enticing incentive for football enthusiasts in Ohio.

New Customers are Also Eligible for a Second Chance Bet of Up to $100

In a bid to entice new customers, the Bally Bet Sportsbook is offering an intriguing “Second Chance Bet” promotion, enabling fresh registrants to place a second wager of equal value, up to $100, if their initial bet results in a loss.

The partnership between Bally’s and the NFL’s Cleveland Browns extends beyond the digital realm. Plans are in motion for the establishment of a brick-and-mortar sportsbook destination. Collaborating with renowned Cleveland restaurateur Bobby George, Bally’s and the Browns aim to introduce a Bally Bet Sportsbook lounge. This lounge will be housed within a revamped sports bar concept developed by George and his Ethos Hospitality Group at the current location of Harry Buffalo on East 4th Street in Cleveland.

While the specifics of the lounge’s features and offerings are yet to be revealed, the venture’s primary objective is to deliver Browns fans an on-site betting experience coupled with a communal space for watching games, marking an exciting development for local sports enthusiasts.

Alongside the app’s eagerly anticipated launch, Bally Bet has unveiled a multifaceted strategy aimed at engaging sports enthusiasts in Ohio. This comprehensive plan includes a range of promotions and activities designed to elevate the betting experience and foster a deeper connection with the Cleveland Browns’ dedicated fan base.

Among the initiatives are exciting giveaways featuring premium tickets and autographed merchandise, offering fans the chance to get closer to their favorite team. VIP experiences and exclusive content are set to enhance the allure of Bally Bet’s offerings. Additionally, a strong social media presence will ensure that Browns enthusiasts stay connected, and fan activations both within and around the stadium will create memorable moments for sports aficionados throughout Ohio.

Bally’s Raised its Earning Guidance in June 2023

Just recently in June 2023, Bally’s Corporation geared up for a robust financial year, as indicated by its revised guidance for full-year adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs). The company’s optimistic outlook comes on the heels of impressive growth during the initial quarter of the 2023 fiscal year.

In its recently released financial report, Bally’s Corporation highlighted substantial expansion across all major divisions, with a notable focus on its Casino & Resorts segment. This segment experienced remarkable growth, achieving record-high revenue figures.

Notably, Bally’s underlined its ongoing success in the North America Interactive sector, showcasing the company’s adaptability and commitment to the evolving landscape of the gaming industry. The operator also underscored its strategic collaboration with Kambi Group and White Hat Gaming, a partnership aimed at powering Bally’s sports betting services. This move is expected to fuel the company’s sustained growth and strengthen its position in the market.

George Papanier, Bally’s President, delved into further detail concerning the expected growth of the operator’s Casinos & Resorts division, highlighting Bally’s Chicago flagship megacomplex project, which is currently in the works:

“Importantly, our portfolio’s near-term capex cycle has peaked for our Casinos & Resorts segment as several of our growth projects have come to or are nearing completion. This includes an upgrade of our flagship Bally’s Twin River in Rhode Island, which was completed in April, and our Kansas City expansion that will conclude in July. We look forward to the opening of the Chicago temporary casino in late summer 2023, which is on track and on budget. We are also advancing the full build of our Bally’s Chicago permanent facility, which is slightly ahead of schedule and on budget for opening in the summer of 2026. There is significant consumer demand for this project, and we couldn’t be more excited to begin producing results.”– George Papanier, President, Bally’s Corporation,Press Release

Bally’s Saw €425.5m Net Loss in 2022

Bally’s Corporation released its financial results for the 2022 fiscal year back in March 2023. While the operator reported a net loss of $425.5 million, a substantial portion of this loss was attributed to impairment charges. Despite this setback, Bally’s showcased a noteworthy achievement with a 70.7% increase in its total revenue.

This anticipated net loss for the fiscal year wasn’t entirely unexpected, as Bally’s had hinted at the likelihood of significant losses due to these impairment charges. The largest contributor to these charges was a substantial $390.7 million connected to the North America interactive business, recorded during the fourth quarter of 2022.

Although the final net loss exceeded the preliminary guidance, the company’s incoming Chief Executive, Robeson Reeves, who currently serves as President of Interactive, expressed optimism about Bally’s overall performance in the previous year. Despite challenges, Bally’s remains poised to navigate the dynamic landscape of the gaming industry and capitalize on opportunities for growth.

In fact, Reeves still saw the potential for major growth in the future:

“As previously reported in our preliminary release of these financial results, we are pleased to have achieved record results in both our casinos and resorts and international interactive segments. Our core businesses continue to generate fantastic cash flows. UK revenue grew 12% organically in the fourth quarter as regulations continue to play through, while in December, Asia saw positive year-over-year organic growth, proving that our initiatives to maintain a competitive advantage in that market are effective.”– Robeson Reeves, CEO, Bally’s Corporation,Press Release

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Author: James Richardson