Bally’s ditches sports betting platform for Kambi and White Hat agreement

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Bally’s Corporation has penned a deal with Kambi and White Hat Gaming for the provision of an online sports betting and online casino platform and player account management infrastructure. 

Aiming to improve the fortunes of its North American interactive division, which posted losses of over $400m in 2022, Bally’s has ditched its proprietary platform in favor of the Kambi tech platform. 

Robeson Reeves, Chief Executive Officer of Bally’s Corporation, said: “We are very excited to have entered into long-term agreements with both Kambi and White Hat – two of the world’s most established and trusted gaming technology companies. 

“Kambi provides an award-winning sportsbook that delivers unrivaled sports betting entertainment. 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.”

In its agreement with Kambi, Bally’s will leverage the supplier’s suite of omnichannel products, trading capabilities, content solutions, and model-driven approach to liability management to offer sports betting and online casino to its players across the retail and online in its 17 casinos in 11 states and seven live online states.

The agreement also gives Bally’s the option to acquire a license to a limited part of Kambi’s online and retail technology source code, which would trigger a separate outsourcing agreement.

Kristian Nylén, Kambi CEO and Co-Founder, said: “We are pleased to enter into this long-term partnership with Bally’s to enable the enhancement and expansion of its online and retail sports betting platform and services. Kambi is the proven global leader in sportsbook provision and I believe this powerful collaboration with Bally’s will deliver its customers the next-generation betting entertainment they demand.”

Meanwhile, the agreement with White Hat Gaming sees Bally’s leverage its player account management platform, featuring a proprietary cashier, multiple RGS integrations, managed services, and its traveling wallet.

White Hat Gaming will also deliver sports betting and online casino content via its aggregation and third-party platform to boost the fortunes of the Bally’s product. 

Phil Gelvan, CEO of White Hat Gaming, added: “We are excited to partner with an innovative gaming company such as Bally’s, whose vision for growth and diversification complements that of White Hat. 

“We are confident that our core technology, including our best-in-class PAM solution, plus our managed service offering, will not only enhance the Bally’s experience and player engagement, but also support its expansion strategy.”

This deal comes as part of the restructuring of the North American Interactive division, the performance of which CEO Reeves described as “unacceptable”, whilst noting that the firm would not repeat past mistakes. 

Another part of the restructuring saw Bally’s shut down Monkey Knife Fight, its daily fantasy sports product that it purchased for $90m in 2021. 

Bally’s explained that migrating to the Kambi platform can help reduce costs as certain fixed costs from its own platform will become variable costs, which will also help to “reduce risk.”