The deal, which consists of both online and land-based offerings, will see the providers supply the technological capabilities for sports betting to the business, as well as support the relaunch of Bally’s online sports betting platform Bally Bet.
The operator said that it expects Bally Bet to roll out across seven states and at four retail gaming locations by the end of 2023. The company further hinted that this may represent only the first stage of a global expansion.
Variable cost structure model
Through these partnerships, Bally’s said it wants to leverage Kambi and White Hat’s “proven” technology integration, licensing across regulated jurisdictions end-to-end, as well as the companies’ track record of executing “quick launches”.
The business said that another factor in why it has chosen to go down this route is that these partnerships will mean that the fixed cost structure of Bally’s previous in-house system would become a variable structure that will generate “significant cost savings and reduce risk”.
Bally’s said that these benefits, in addition to enhancing Bally’s retail and online sportsbooks, will better position the company to deliver near and long-term results to investors.
Bally’s chief executive Robeson Reeves said the business was “very excited” to have entered into the agreements with the two suppliers.
“Kambi provides an award-winning sportsbook that delivers unrivalled sports betting entertainment,” said Reeves. “By incorporating that with White Hat’s PAM platform solution, as well as our geographic reach, customer base and marketing prowess, Bally’s will be optimally positioned to achieve significant scale and capture substantial market share in the global gaming market.
“This, in turn, will support our vision of becoming the premier, full-service, vertically integrated casinos and resorts, online sports betting and igaming company.”
Access to Kambi source code
Under the terms of the Kambi deal, Bally’s will integrate Kambi’s suite of omnichannel product, trading capabilities, content solutions and “model driven approach” to liability management to deliver its sports betting services.
Bally’s also said that it maintains the option, pending the achieving of “certain material performance metrics”, to acquire a licence to a limited part of Kambi’s online and retail source code.
If Bally’s decide to exercise the option and pay an agreed sum, the two businesses would enter into a separate long-term outsourcing agreement in relation to Kambi’s range of modularised services.