Bally's Corporation (‘Bally’s’) operates as a global gaming, hospitality and entertainment company with a portfolio of casinos and resorts and a growing omni-channel presence.
The company provides its customers with physical and interactive entertainment and gaming experiences, including traditional casino offerings, iGaming, online bingo, sportsbooks, and free-to-play (‘F2P’) games.
As of February 28, 2025, the company owned and operated 19 casinos in 11 states across the United States (‘US’)...
Bally's Corporation (‘Bally’s’) operates as a global gaming, hospitality and entertainment company with a portfolio of casinos and resorts and a growing omni-channel presence.
The company provides its customers with physical and interactive entertainment and gaming experiences, including traditional casino offerings, iGaming, online bingo, sportsbooks, and free-to-play (‘F2P’) games.
As of February 28, 2025, the company owned and operated 19 casinos in 11 states across the United States (‘US’), one golf course in New York, one horse racetrack in Colorado, and Aspers Casino in the United Kingdom (‘UK’) (‘Bally's Newcastle’), which was added to its portfolio in the fourth quarter of 2024. In February 2025, the company merged with The Queen Casino & Entertainment Inc. (‘Queen’), adding four additional casinos to its portfolio. The company also owns Bally Bet Sportsbook & Casino, a first-in-class sports betting and iCasino platform, Bally’s Interactive International division, a leading global interactive gaming operator concentrated in Europe, and a significant stake in Intralot S.A. (‘Intralot’), a global lottery management and services business. The company’s revenues are primarily generated by these gaming and entertainment offerings.
Strategy
The company seeks to continue to grow its business by actively pursuing the acquisition and development of new gaming opportunities, and reinvesting in its existing operations. The company aims to increase revenues at its casinos and resorts through enhancing the guest experience by providing popular games, restaurants, hotel accommodations, entertainment, and other amenities in attractive surroundings with high-quality guest service. The company’s recent acquisitions have expanded and diversified it from financial and market exposure perspectives, while continuing to mitigate its susceptibility to regional economic downturns, idiosyncratic regulatory changes, and increases in regional competition. The company continues to make progress on the integration of its acquired assets, and deploying capital on its strategic growth projects.
These steps have continued to position the company as a prominent, full-service, vertically integrated iGaming company, with physical casinos and online gaming solutions united under a single, leading brand.
Operating Structure
The company’s business is organized into three reportable segments: Casinos & Resorts, International Interactive, and North America Interactive.
Casinos & Resorts - included 19 land-based casino properties, one horse racetrack, and one golf course as of February 28, 2025.
International Interactive - includes Gamesys’ European operations and global licensing business, as well as one casino property, Bally's Newcastle, in the UK.
North America Interactive - includes the North American operations of Gamesys, Bally’s Interactive, primarily a B2C online iGaming and online sportsbook operator, and consumer-facing service and marketing engines, including SportCaller, a business-to-business (‘B2B’) and F2P game provider for sports betting companies.
Brands
Bally’s Brand
Bally’s is an iconic brand. The company performed extensive market research in which active gamers indicated an acute awareness of the brand, but not necessarily a high usage of brand products and gaming offerings. The company has rebranded every casino and resort in its portfolio, except Hard Rock Biloxi, to build upon the deep legacy of the Bally’s brand.
Additionally, the company’s research indicated that gamers across the demographic age spectrum knew of Bally’s brand and identified with the gaming entertainment aspect of slot machines, pinball machines, video machines, and casinos. These insights form the key tenets of the company’s integrated Bally Rewards program, specifically to enable customers to utilize compelling rewards universally in its interactive and casino and resort environments.
The company’s phased approach to the transformation of Bally’s brand was thoughtful and deliberate. There are exceptions to the company’s rebranding initiative. For example, in the case of Hard Rock Biloxi, the company decided to maintain the current ‘Hard Rock’ naming rights arrangement. Nonetheless, Bally’s remains at the center of the company’s strategy.
Interactive Brands
The company operates a suite of award-winning brands and is focused on building a diverse portfolio of distinctive and recognizable brands that deliver platforms, player experiences, and gaming content globally. The company’s brands are generally as follows, which include certain licensed brands:
iGaming brands: Bally Casino, Rainbow Riches Casino, Virgin Casino, Virgin Games, Monopoly Casino;
Online bingo: Jackpotjoy, Double Bubble Bingo, and Botemania;
Sportsbook: Bally Bet and Sportsbook;
F2P: Bally Play, Bally Live, and SportCaller;
Gamesys, an iGaming and online bingo platform provider and operator; and
Telescope, a provider of real-time audience engagement solutions for live events, gamified second screen experiences, and interactive livestreams.
Marketing
The marketing efforts under the Bally’s brand are primarily executed through six funnels: advertising, direct marketing, player development, special events and promotions, entertainment, and the Bally Rewards loyalty program.
The company’s Casino Operations team plays a significant role in attracting and retaining its customers. Every customer who interacts with a process, such as an automated teller machine (ATM) or kiosk, or an employee, is met with an attempt to garner a return visit and then, in turn, make a recommendation to family and friends. Hence ‘R2,’ an abbreviation for ‘Return and Recommend,’ is Bally’s marketing and casino operations mantra.
The funnels are as follows:
Advertising
The company targets its demographics throughout the nation via radio, television, billboards, print, direct mail, email, digital, and social media campaigns. The company seeks to target the right customer at the right time with the right message to increase brand awareness and drive business. The company does modest image advertising, but more predominantly leans towards call-to-action messaging.
Direct Marketing
The company uses direct marketing to establish a personal relationship with customers. This form of marketing typically involves an offer and a call to action to incentivize an initial or additional casino visit or engagement with its iGaming products. The company’s focus on individual behavior, rather than broad segments (which have been the traditional industry approach), is designed to allow it to execute a ‘Precision Marketing Model.’
Player Development
Player development is the company’s link to its premium customers. The company utilizes a process under the Precision Marketing Model that is designed to enable its team to efficiently manage sales efforts to attract customers.
Special Events and Promotions
This category refers to the mass public promotions that are weaved into the marketing calendar in concert with direct marketing. The company’s casino marketing team seeks to leverage tried-and-true promotions that attract and entertain players in an effort to retain them for the long term.
Entertainment
The mission to attract and retain gamers is evident in the company’s entertainment strategy. Bally’s headliner strategy is to entertain its customers while recovering the cost of the act through cash sales. Additional entertainment is offered at Bally’s lounges and bars, and designed to support its branding mission, which is based on offering an engaging and entertaining experience.
Bally Rewards
Bally Rewards is the company’s core loyalty program, and was devised to establish consistency throughout Bally’s brand. Players earn tier points to achieve a tier status of Pro, Star, Superstar, and ultimately Legend. The company is developing the connectivity of this program by its ‘one card’ linking systems, which universally link to all Bally’s Casinos & Resorts properties and its interactive business units. The company is also planning to provide benefits outside of what is offered in its casinos and resorts to add value to the membership.
Interactive Cross Marketing
The company’s strategic approach involves crafting collaborative, cross-marketing campaigns that seamlessly integrate direct mail, on-property marketing, and VIP initiatives. These efforts aim to boost interactive sign-ups and attract interactive players to its Casinos & Resorts properties. This innovative cross-marketing strategy is currently being implemented across several of its properties.
Governmental Gaming Regulation
The company is party to an Amended and Restated Regulatory Agreement (the ‘Regulatory Agreement’) with the Rhode Island Department of Business Regulation (‘DBR’) and the State Lottery Division of the Rhode Island Department of Revenue (‘DoL’).
The Regulatory Agreement also provides affirmative obligations, including setting a minimum number of employees that the company must employ in Rhode Island, and providing the DBR and DoL with periodic information updates about it. Among other things, the Regulatory Agreement prohibits the company and its subsidiaries from owning, operating, managing, or providing gaming-specific goods and services to any properties in Rhode Island (other than Bally’s Twin River and Bally’s Tiverton), Massachusetts, Connecticut, or New Hampshire.
The DoL also has regulatory authority over the company under its VLT master contracts with the DoL.
Intellectual Property
The company uses ‘Bally’s’ in connection with a majority of its land-based properties. The company uses variations of ‘Bally’ in connection with its interactive products, including Bally Bet, Bally Live, and Bally Play. The Bally’s and Bally brand is protected by approximately 170 trademark registrations and applications in the U.S. and foreign jurisdictions. In line with the company’s multi-brand strategy, the company registers trademarks for brands either directly exploited by it in the provision of gaming services or for the purpose of licensing to third parties. Following the sale of the Carved-Out Business in the fourth quarter of 2024, its in-house brands in foreign jurisdictions include Jackpotjoy, Botemania, Vera & John (in Sweden only), and Bally Casino. The company also operates interactive sites under brand license agreements with third parties, including the Virgin, Rainbow Riches, Double Bubble Bingo, and Monopoly brands. In addition, the company holds an exclusive trademark license for Hard Rock in relation to its Hard Rock Biloxi casino. The Hard Rock license expires in 2027, with an option to renew for two successive ten-year terms.
History
The company was founded in 2004. It was incorporated in Delaware in 2004. The company was formerly known as Twin River Worldwide Holdings, Inc. and changed its name to Bally's Corporation in 2020.