Bally's acquires Monkey Knife Fight fantasy sports company
Bally’s continued its acquisition juggernaut Monday, acquiring the daily fantasy sports company Monkey Knife Fight in an all-stock transaction that further widens the fast-growing company’s drive to add casino, online sports betting and media companies
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Bally's continued its acquisition juggernaut Monday, acquiring the daily fantasy sports company Monkey Knife Fight in an all-stock transaction that further widens the fast-growing company s drive to add casino, online sports betting and media companies.
Providence, Rhode Island-based Bally's becomes the third U.S. sports betting company to have a daily fantasy sports component, along with DraftKings and FanDuel.
Bally's has been on a tear in recent months, adding gambling and media properties as it aims to become a major national player.
“With this acquisition, we are pleased to enter into the high-growth (daily fantasy sports) market," said George Papanier, the company's president and CEO. "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.”
Bally's recent moves include the purchase of Bally's casino in Atlantic City a media partnership with Sinclair Broadcast Group and its pending acquisition of Bet.Works.
The company plans to integrate Monkey Knife Fight's geographic presence in 37 states, Washington, D.C., and Canada, with Sinclair’s portfolio of 21 regional sports networks.
Monkey Knife fight has about 180,000 registered users, 80,000 of whom have made monetary deposits in order to play.
Papanier said Monkey Knife Fight will support Bally’s plans to develop a potential customer database in states that have not yet adopted sports betting but which are considered lucrative potential markets, including California, Florida and Texas, as well as in Canada.
The deal is expected to close in the first quarter of 2021.
___
Follow Wayne Parry at http://twitter.com/WayneParryAC.