Bally’s will acquire Monkey Knife Fight in an all-stock transaction. Once the acquisition goes through, Bally’s will be the third sports betting company in the US to also offer a Daily Fantasy Sports platform (behind DraftKings and FanDuel).
“With this acquisition, we are pleased to enter into the high-growth DFS market. Monkey Knife Fight is a unique asset that we look forward to incorporating into Bally’s constantly growing omnichannel portfolio of land-based casinos and iGaming platforms,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “As with all of the properties and services that fall under the iconic Bally’s brand, we are committed to providing a best-in-class DFS platform to sports fans around the country.”
The Ever-Busy Bally’s Corporation
The Monkey Knife Fight acquisition is the latest in a string of developments from Bally’s Corporation over the past year. The company has been building out its product portfolio to better suit the evolving gambling market.
This shift began when Twin River Worldwide Holdings purchased the Bally’s name from Caesars Entertainment for $20 million. Twin River then promptly changed its name to Bally’s Corporation, leveraging years of brand recognition.
In November 2020, Bally’s agreed to acquire Bet.Works. Bally’s agreed to purchase Bet.Works for $125 million.
As we rounded the corner into 2021, Bally’s dropped another big news story outlining its plans to build a new Pennsylvania casino.
Now, Bally’s continues its chain of strategic acquisitions with its planned purchase of Monkey Knife Fight.
Papanier continued, “The MKF acquisition will allow Bally’s to leverage both its current customer database as well as DFS’s collection of depositing players. These assets will also provide Bally’s with a significant advantage in launching its own B2C sports betting operations.”