Bally’s Continues Buying Binge with Telescope Acquisition
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Posted on: August 12, 2021, 06:32h.
Last updated on: August 12, 2021, 06:32h.
Bally’s (NYSE:BALY) is continuing its acquisitive ways, announcing earlier today the purchase of Telescope Inc.
Financial terms of the deal weren’t disclosed. Privately held Telescope provides “fan engagement services” for live events, interactive livestreams and gamified second screen entertainment. Bally’s is looking to leverage Telescope’s expertise in interactive content to attractive highly sought after younger demographics — groups traditional gaming companies have struggled to connect with.
Telescope will connect with Bally’s customers in innovative ways, providing opportunities for Bally’s to attract a younger demographic and augment its loyal customer base,” according to a statement.
Rhode Island-based Bally’s, previously known as Twin River Worldwide, didn’t say when the acquisition will close.
For Bally’s, Practical Purchase
Telescope could bolster Bally’s Interactive – a unit the gaming company is prioritizing as online casinos and interactive gaming take off.
Earlier this year, Bally’s offered $2.7 billion to purchase British online gaming firm Gamesys in the suitor’s largest acquisition to date. That deals fills some holes in Bally’s product roster and the Telescope acquisition could prove complemenatry.
Additionally, Telescope could be additive to Bally’s Bally Bet and Bally Sports. While the company was slow to roll out mobile sports wagering relative to rivals, it is making clear that business is important as it’s made a series of investments, including purchases on that front.
With in-game betting expected to be a vibrant new frontier for sportsbook operators, Bally’s could eventually leverage Telescope’s interactive and second screen capabilities as part of its relationship with the Sinclair regional sports networks (RSNs) that bear the Bally’s name.
Other Possible Uses for Telescope
Bally’s latest acquisition could mesh well with some other recent deals struck by the gaming operator.
For example, free-to-play games provider SportCaller — acquired by Bally’s in February — and daily fantasy sports (DFS) firm Monkey Knife Fight (MKF) could be operations where Telescope may be additive.
SportCaller makes predictive, quiz/trivia, pay-to-play, bespoke, and turn-key app games. Clients include BetMGM, Coral, Entain, FanDuel, Paddy Power Betfair, Kindred, William Hill and Virgin Bet, among others, according to the company’s web site.
Given its technology capabilities, Telescope could be complementary with Bet.Works. Bally’s acquired that sports betting platform provider for $125 million in a deal that was universally lauded by Wall Street analysts.
Currently, the company runs 14 casinos in 10 states. That number will grow to 16 in 11 states pending closure of the purchase of Tropicana Las Vegas and construction of a gaming venue in State College, Pa.
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