US regional casino operator Twin River Worldwide Holdings (TRWH) officially rebranded and will now be called Bally. While its Atlantic casino of the same name, it will incorporate a retail sportsbook that will be managed by FanDuel.
TRWH announced this week that as of november 9, Bally’s Corporation’s corporate identity and its shares on the New York Stock Exchange will change the new ticker symbol ‘BALY’.
The intention to change the image of the Rhode Island-based TRWH was announced two weeks ago. The operator will now carry the Bally name and logo, after purchasing Bally’s Atlantic City casino company from Caesars Entertainment in april.
However, the acquisition agreement provides that Caesars may continue to operate under its current name Bally’s Las Vegas Hotel & Casino.
Soo Kim, president of TRWH, said that within the US gaming market, the Bally’s brand “embodies a rich history” and “aligns perfectly with our current and future growth strategy.”
This criterion is shared by George Papanier, CEO of TRWH, for whom the company’s goal was to unite “our increasingly national footprint under a singular and preeminent brand.”
Papanier visible that the new brand identity is part of the company’s strategy to become “the first omnichannel gaming company to seamlessly integrate and operate physical casinos with digital solutions.”
FanDuel Signs Bally’s AC Gambling Agreement
In early october TRWH indicated that the rebranding strategy also involved launching a nationwide sports betting operation.
Along those lines, on wednesday, FanDuel Group’s Flutter Entertainment subsidiary announced that it will install a new land based sportsbook in Bally’s Atlantic City.
Although Bally’s AC already owns a sportsbook located in the Wild, Wild West section of the casino, it was not sold by Caesars. If the New Jersey regulator approves the sale of the casino to TRWH, operator FanDuel revealed that it plans to launch a temporary bookmaker at Bally’s by the end of the year. Then next spring, he will install a permanent betting operation.
Currently, FanDuel is running Colorado gambling operations at one of TRWH’s properties there. Papanier said he was “delighted” to also work in another state with “great partners.” In New Jersey, FanDuel currently runs the most successful gambling association in the state by controlling AC’s Meadowlands race track, although it had not had a physical presence until now.