Bally's Atlantic City Hotel & Casino opens FanDuel Sportsbook
Tuesday 22nd December 2020
Partnership Represents FanDuel's First Retail Sports Betting Operation in Atlantic City
Establishes First Capital Improvement Project at Bally's AC
PROVIDENCE, R.I., Dec. 22, 2020 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) (the "Company") and FanDuel Group ("FanDuel") today announced the opening of the "FanDuel Sportsbook at Bally's Atlantic City Hotel & Casino." This temporary sportsbook, which will utilize FanDuel's proprietary risk and trading technology that leverages the IGT PlaySports platform, is the first retail sports betting operation for FanDuel in Atlantic City.
The FanDuel Sportsbook will initially feature six live odds boards, ten self-service IGT PlaySports betting kiosks, and three live betting windows with attendants available to assist customers with the sports betting process. It will allow bets on all major U.S. sports, including professional baseball, soccer, football, basketball, golf, boxing, motorsports racing, and more, and operate in accordance with all CDC and local health guidelines and protocols.
"We are very excited to announce the opening of the FanDuel Sportsbook at Bally's AC. It is the first of many planned capital improvement projects at Bally's Atlantic City and a testament to our commitment to reinvest in our physical property portfolio," said George Papanier, President and Chief Executive Officer of Bally's Corporation. "We are also looking forward to once again implementing the winning combination of Bally's nationwide expertise in gaming and casino operations, with FanDuel's market-leading sports betting acumen and globally recognized brand, to provide an unrivaled sportsbook experience for our loyal Atlantic City customers."
Design and construction are currently underway on the permanent FanDuel Sportsbook location, which Bally's expects to open in Spring 2021. The state-of-the-art, best in class facility will span 4,100 square feet and consist of 34 self-service IGT PlaySports betting kiosks, and 5 attended, live wagering windows. It will also feature a luxury 80-seat lounge with 30 reclining club chairs, oversized LED video walls, a thoughtful food and beverage menu including self-service craft beer, and a sensational game-day atmosphere.
"We are excited to be one the first pieces of the Capital Improvement Project at Bally's Atlantic City Casino & Hotel," said Keith Wall, Vice President of Retail, FanDuel Group. "While we are eager to get up and running with our temporary sportsbook, we cannot wait until we open the permanent location and showcase to Atlantic City why FanDuel is the number one sportsbook in New Jersey."
The temporary FanDuel Sportsbook at Bally's Atlantic City, which is directly accessible from the Atlantic City boardwalk and prominently located on the main casino floor, will be open 24 hours a day, seven days a week for self-service kiosks. Attendants will be available at live wagering stations Monday through Friday, 12:00pm-10:00pm ET, and Saturday and Sunday, 10:00am-10:00pm ET.
FanDuel Group is an innovative sports-tech entertainment company that is changing the way consumers engage with their favorite sports, teams, and leagues. The premier gaming destination in the United States, FanDuel Group consists of a portfolio of leading brands across gaming, sports betting, daily fantasy sports, advance-deposit wagering, and TV/media, including FanDuel, Betfair US, and TVG. FanDuel Group has a presence across all 50 states and 8.5 million customers. The company is based in New York with offices in California, New Jersey, Florida, Oregon, and Scotland. FanDuel Group is a subsidiary of Flutter Entertainment plc, the world's largest sports betting and gaming operator with a portfolio of globally recognized brands and a constituent of the FTSE 100 index of the London Stock Exchange.
Forward Looking Statements
This communication contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including future financial and operating results and Bally's Corporation's ("Bally's") plans, objectives, expectations and intentions, legal, economic and regulatory conditions and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements are sometimes identified by words like "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "could," "project," "predict," "continue," "target" or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) uncertainty surrounding the ongoing COVID-19 pandemic, including uncertainty regarding its extent, duration and impact, the resulting closure of Bally's properties (all of which have re-opened at some limited level of capacity) and the risk that the ongoing COVID-19 pandemic may require Bally's properties to close again for an indeterminable period of time; (2) the time it will take Bally's to return its facilities to full capacity and the restrictions applicable to its facilities until then; (3) the costs to comply with any mandated health requirements associated with the virus; (4) customer responses as Bally's facilities continue to operate under various restrictions including the time it takes customers to return to the facilities and the frequency with which they visit Bally's facilities; (5) the economic uncertainty and challenges in the economy resulting from the ongoing COVID-19 pandemic, including the resulting reduced levels of discretionary consumer spending; (6) challenges Bally's may face in bringing employees back to work upon re-opening of its facilities; (7) unexpected costs, charges or expenses resulting from the recently completed acquisitions; (8) uncertainty of the expected financial performance of Bally's, including the failure to realize the anticipated benefits of its acquisitions; (9) Bally's ability to implement its business strategy; (10) evolving legal, regulatory and tax regimes; (11) the effects of competition that exists in the gaming industry; (12) the actions taken to reduce costs and losses as a result of the COVID-19 pandemic, which could negatively impact guest loyalty and our ability to attract and retain employees; (13) risks associated with increased leverage from Bally's recently completed and proposed acquisitions; (14) the inability or unwillingness of the lenders under our revolving credit facility to fund requests that we may make to borrow amounts under the facility; (15) increased borrowing costs associated with higher levels of borrowing, (16) the risk that contemplated acquisitions, and the expected benefits therefrom and the timing thereof, do not occur as planned or at all; and (17) other risk factors as detailed under Part I. Item 1A. "Risk Factors" of Bally's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 as filed with the Securities and Exchange Commission on March 13, 2020 and Bally's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020 as filed with the Securities and Exchange Commission on November 6, 2020. The foregoing list of important factors is not exclusive.
Any forward-looking statements speak only as of the date of this communication. Bally's does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
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