DFS

Bally’s to acquire DFS operator Monkey Knife Fight

2 minutes read
Casino and sports betting operator Bally’s Corporation has agreed to acquire North America’s third-largest daily fantasy sports (DFS) operator, Monkey Knife Fight.

As part of the all-stock transaction, Monkey Knife Fight is set to receive immediately exercisable penny warrants to purchase approximately $50m in Bally’s common shares at closing.

It is then set to receive contingent penny warrants to purchase up to approximately $20m in additional shares on the first and second anniversaries of the deal closing, for a possible total of up to $40m.

The transaction is expected to close in the first quarter of 2021, and Bally’s said it represents the latest step in its long-term growth and diversification strategy to become the first vertically integrated sports betting and igaming company in the US with a B2B and B2C business model.

“With this acquisition, we are pleased to enter into the high-growth DFS market,” George Papanier, president and chief executive of Bally’s Corporation, said. 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.”

“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.”

Read the full story on iGB North America.

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