Bally’s Corporation and Sinclair Broadcast Group have agreed a long-term strategic partnership.
The deal will allow the two firms to “fully capitalize on changing audience behavior” as they plan to create sports gamification content on a national scale.
Sinclair will receive warrants and options to purchase a minority stake in Bally's, while Bally's will integrate content into the 190 television stations Sinclair owns, operates or provides services to across 88 markets and its sports networks.
This includes the 21 Fox Regional Sports Network brands Sinclair runs, which will be rebranded using the Bally name.
The 21 RSNs collectively cover more than half of the MLB, NBA and NHL teams in the US.
Bally's, which recently rebranded from Twin River Worldwide Holdings, will be given integration opportunities across Tennis Channel, Stadium, Sinclair's 24/7 multi-platform sports network and STIRR, Sinclair's direct-to-consumer streaming app.
“Sinclair, with its broad holdings of stations, channels and RSNs, provides immediate, national brand recognition that will support the development of the Bally's player database, for both our traditional casinos as well as our future online offerings, and ultimately deliver significant shareholder value,” said Soo Kim, Bally's chairman.
Chris Ripley, president and CEO of Sinclair, said: "Bally's is the perfect partner to help us change the paradigm of sports viewing across all our assets.
"By integrating gamification elements that allow audiences a more personalized and interactive game experience, consumers of live sports in the future can look forward to a more dynamic and engaging sports viewing experience.”