Have no fear, New Jerseyans. What happens on the other side of the Hudson River will stay over there.
Bally’s Corporation‘s temporary shutdown of its online sportsbook will not affect New Jersey online casinos. Bally Online Casino in NJ will remain fully operational while Bally’s Corp. reboots its digital sportsbooks in other states.
The company advised users to withdraw their funds by Friday. On that day, Bally’s will deactivate all of its sports betting accounts and begin work on a relaunch of its app later this year.
Bally’s shuts down sports betting, but Bally’s Online Casino NJ will live on
Bally Bet, the company’s internet sportsbook, is undergoing a system-wide transformation that will “enhance (the) user experience and streamline operations,” according to a company press release. The integration is the result of multi-year agreements with Kambi Group plc and White Hat Gaming, both of which were announced in March.
Bally Bet is unavailable in New Jersey, but it was live in multiple states, including New York.
In New York, one of the few states to break out individual operator data, Bally Bet had 0.16% of the market’s monthly handle in May.
The Bally’s Online Casino NJ product has been gaining momentum in the Garden State. According to state gambling data, through the first five months of 2023, NJ online gambling revenue reported by Bally’s Atlantic City (the casino license holder in NJ) is up nearly 193% over the same period last year.
Bally’s hoping to rise from ashes with latest deals
Bally Online Casino recently went live in Pennsylvania, expanding its footprint in the rapidly growing online gambling market.
The Kambi/White Hat partnerships are the latest in a series of splashy deals since the once-regional operator known as Twin River bought out the Bally’s brand a few years ago. Last year, Bally’s Corp. essentially wrote off nearly $400 million in bad investments, including sports betting operator Bet.Works and daily fantasy sports operator MonkeyKnifeFight.
Those decisions led to the departure of the company’s former CEO, Lee Fenton. Current CEO Robeson Reeves replaced him.
Despite the setbacks, the company says it remains committed to its long-term growth strategy, including expanding its online gambling presence and leveraging strategic partnerships to enhance its offerings.
