Why is diversifying so important now for growth?
Diversification has never been more important for growth in our industry than it is today. Sports fans and gaming enthusiasts are clamoring for unique opportunities to have deeper and more interactive engagement with their favorite teams, and they’re relying on gaming companies to provide them with the content they desire on a multitude of platforms and channels. As a result, to respond to this demand, gaming companies must pivot and get more creative about how they provide content to its current and potential customers. It’s all about the fan experience, and as fan preferences continue to evolve, the need to focus on delivering a diversified portfolio of gaming and betting content has never been greater.
We’re constantly evaluating how we can expand our offering. We recognize that we need to meet fans where they are, and we will accomplish this by continuing to grow our interactive business portfolio, and engage and retain customers within the Bally’s ecosystem.
Why is aligning with sports franchises a key component for continued success?
We see significant value in developing relationships with sports franchises. That value is rooted in the ability to leverage each other’s strengths as well as expanding sports betting access. That is one of the reasons why Bally’s recently entered into its groundbreaking partnership with the WNBA’s Phoenix Mercury, which is the largest official team sponsorship and first gaming access deal in the history of women’s sports.
Bally’s maintains the infrastructure necessary to gamify sports, which, in turn, will enhance and expand interest in sports. With sports franchise partnerships comes the opportunity to share a whole new world of new and exciting content with fans nationwide. These partnerships are critical for the future success of all involved: the sport, the gaming company, the athletes and the fans.
How competitive is the partnership market now?
As more states legalize sports betting, it’s certainly becoming more competitive, which is why it's so important for companies like Bally’s to anticipate customers’ evolving needs and develop more sophisticated content offerings. Additionally, as the legalized sports betting market continues to grow, partner expectations will continue to evolve, which will require gaming companies to further differentiate themselves among competitors. This is why building a diversified portfolio is so important right now.
We’re focused on cultivating partnerships that align with our long-term growth strategy. More specifically, we’re looking to invest in and partner with organizations that complement our rapidly expanding US sports betting vision and omni-channel growth. We will continue to use our resources to provide sports fans with engaging and creative sports betting experiences and I believe that uniquely positions us as a valued partner amid an increasingly competitive betting market.
In which markets are you seeing the greatest potential?
We see the greatest potential in larger states that maintain a good regulatory framework, allow online sports betting and igaming, and where we can expand our media presence by leveraging our Sinclair partnership. With states such as Arizona, Illinois and Ohio embracing online gaming, we are encouraged by these markets’ growth potential.