More Bally online sportsbook launches are pending as the company sees improved online casino gaming performance.
Bally’s Corp. plans to launch its Bally Bet online sportsbook in at least four more states in the coming months, company officials reaffirmed Wednesday.by market share, Bally’s still plans to expand its digital sportsbook to complement its iGaming platform, Bally Casino.
Though it has only roughly 1% national sports betting market share, the company has seen revenue gains driven by its more lucrative iCasino. The company’s North American interactive operations generated $49.2 million in second-quarter revenues, per the company’s earnings release, a 94.7% year-over-year increase.announcing the results, Bally’s CEO Robeson Reeves attributed the gains largely to “excellent results” for its New Jersey and Pennsylvania iGaming platform. Rhode Island-based Bally’s also has a monopoly on legal iGaming in its home state where it has seen a “strong performance” since it launched earlier this year, Reeves said.New Jersey, Pennsylvania, West Virginia, and Michigan are the likeliest quartet of future Bally Bet sportsbook states. Though not specified during Wednesday’s earnings call, company officials indicated the next wave of sports betting states would complement the iCasino. The aforementioned group forms the nation’s only legal competitive market iGaming states, leading all to be top contenders for Bally's.online casino states are Connecticut, which has a duopoly with DraftKings and FanDuel, and Delaware, which has a monopoly run by BetRivers. Bally Bet sportsbook is live in nine states after launching in Maryland and Massachusetts earlier this year. The mobile book is also available in Arizona, Colorado, Indiana, New York, Iowa, Ohio, and Virginia. Without the brand name, marketing, or tech advantages of its better-funded rivals, the Bally Bet mobile book has struggled to capture more than negligible market share in any operating state thus far. After spending hundreds of millions acquiring an in-house tech platform, the companyBally's reports an online division loss of in AEBITDAR for Q2 2024, an improvement from in losses from Q2 2023; revenue improved to $49.2m from $25.3m during that same timeCompany officials Wednesday attributed part of the year-over-year revenue to the improved platform and new providers. The gains can also be attributed partially to downtimes in multiple states for Bally Bet as it transitioned into the new platform. Tech has been a key driver for all U.S. sportsbooks. Revenues industry-wide have been increasingly driven by lucrative single-game parlays, creating large market share divides between books that can implement these offerings and those that can’t.to demolish the remaining free-standing structures of the former Tropicana casino along the Las Vegas Strip. The property is planned to house a future stadium for MLB’s Athletics and will incorporate a Bally’s-run gaming facility.in downtown Chicago. Bally’s announced earlier this month it had secured financing to complete the destination resort casino project ahead of a larger corporate merger deal.. The company acquired property in the Bronx it hopes to develop into another destination resort casino. The licenses are expected to be awarded in early 2026.If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so. It is your sole responsibility to understand your local laws and observe them strictly. Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality. Covers disclaims all liability associated with your use of this website and use of any information contained on it. As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
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