On Monday, Twin River and the Bally’s brand announced that the financial side of the brand takeover deal is complete. Twin River is wasting no time moving forward with the takeover, ready to provide new life to the older gaming brand. In the push to complete the transition, the stock ticker symbol for Bally’s has already been changed to BALY and Twin River has stated a total of $90 million will be spent to upgrade the Bally’s Casino located in Atlantic City.
Taking Over Bally’s in AC
In early 2020, regulators in New Jersey set a requirement that for the Caesars and Eldorado Resorts merger to be completed, Caesars must sell the Bally’s AC casino. When this announcement was made, Twin River showed interest. The plan then changed from just taking over the AC casino to taking on the entire brand.
Twin River now has plans to rebrand most of its retail casinos in the US and use the Bally’s brand to do it. Investing in the Atlantic City casino is only the beginning of this plan. The future of Bally’s is also an expansion into the online gaming realm. Twin River has announced that it intends to offer a mobile sportsbook with the Bally brand.
Many expect that an online casino will also launch via Bally’s. If this occurs, it will mean the online gambling market of the Garden State would grow even larger than it already is.
Will Online Casino Gambling Be in the Mix?
Bally’s never offered online casino gaming in New Jersey because its previous owner was not interested in the option. Caesars already was in the industry via its other property, the Borgata. For Twin River, the deal to take on the Bally’s brand has opened a door for theScore and PointsBet to launch sports betting and opportunity for online casino gaming. But will the brand enter the iGaming market quickly?
For Twin River, they are already investing quite a bit into the Bally’s brand. The company may decide to focus on the rebranding of physical properties as well as upgrade to the AC casino and forgo any online launch at this time. Details have not been provided by the company as to what they plan to do.
However, there are options for three online casino sites from Bally’s which would create an even larger online gambling landscape in the state. Right now, New Jersey is the leader in online gambling in the US and the state is showing no signs of slowing down.
Many analysts have thought that as new operators move into the state, the market would become saturated. However, that has not been the case. Sites continue to pop up and new services offered, giving players more and more options for online gaming.
It will be interesting to see what Twin River will do to the Bally’s brand, in AC as well as with the rebranding of its physical properties. The process is moving quickly so continual movement is expected over the next few weeks.