An emerging sports betting operator is returning to America’s largest online gaming market.
Bally Bet Sportsbook has relaunched operations in New York following a temporary exit from the state that spanned five months. The gambling operator, which is owned by Bally’s Corporation, is returning to the Empire State after transitioning to a new technology platform powered by Kambi Group and White Hat Gaming. Bally Bet also temporarily shuttered operations in two other states — Indiana and Iowa.
Earlier this month, Bally Bet relaunched sports betting in Indiana after regulatory approval. The Rhode Island-based gambling operator continued to offer sports wagering in Arizona, Colorado, Ohio, and Virginia amid the transition.
Bally Bet has relaunched in New York, bringing the state’s total online sportsbooks to eight. Last week, New York reported a $454.1 million betting handle — a 5% decline week-over-week. Despite the drop in handle, the state generated $43.9 million in revenue from legal sports betting for the week — a 16.1% uptick compared to the week prior. The Empire State posted the results despite both the New York Giants and Jets failing to cover their respective point spreads. It would mark the ninth time in 10 weeks that New York has reported a handle over $400 million.
Bally Bet will be looking to add to New York’s handle with an improved sports betting experience for users that includes a new traveling wallet function. The feature allows Bally Bet users to access their personal sportsbook accounts in multiple jurisdictions across America.
Bally Bet has also made improvements to its customer support and player protection tools.
Financial results
Bally’s Corp. generated $632.5 million in revenue in Q3 2023 — a 9.4% increase year-over-year. The company’s Casino & Resorts segment posted $359 million in revenue during the quarter, up from $328.5 million in Q3 2022. Its North America Interactive segment reported $29.5 million in revenue in Q3 2023 compared to $22.1 million for the same period last year. Bally’s projects full-year revenue to range between $2.4 billion and $2.5 billion in 2023.
