Bally s Corporation To Acquire Monkey Knife Fight Fastest Growing Daily Fantasy Sports Site In

Bally's Corporation To Acquire Monkey Knife Fight, Fastest Growing Daily Fantasy Sports Site In North America

PROVIDENCE, Ill., Jan. 25, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) (the "Company"), a leading U. S. provider of terrestrial gaming and interactive entertainment, today announced that it has signed a definitive agreement to acquire Monkey Knife Fight ("MKF"), an award-winning, fast-growing[1] gaming platform and the third largest daily fantasy sports ("DFS") company in North America. The all-stock transaction makes Bally's the third sports betting company in the U. S. with a fantasy sports betting division. In 2020, MKF, which offers a dynamic and creative form of daily sports and online betting to its loyal audience, was ranked the sixth most searched for brand and the tenth fastest growing brand in sports and entertainment by SponsorUnited. Bally's acquisition of MKF is the latest step in the company's long-term growth and diversification strategy to become the first truly vertically integrated sports betting and iGaming company in the U. S. with a B2B2C business model. Importantly, it complements Bally's recent media partnership with Sinclair Broadcast Group and acquisitions, including Bet. Works' proprietary technology stack. "With this acquisition, we are pleased to enter the high-growth DFS market. As with all of Bally's facilities and services, which are iconic brands, we are committed to providing a best-in-class DFS platform to sports enthusiasts across the United States.

With approximately 180, 000 registered users and 80, 000 depositing players, MKF's distinctive and user-friendly gaming platform will be an integral part of Bally's interactive division and contribute to the expansion of Bally's player database. MKF will support Bally's plans to build a database of potential sports bettors in states such as California, Florida and Texas, which are expected to account for 20-25% of U. S. sports betting revenues (according to Wall Street analysts' forecasts). It will also enable Bally's to build a player database in the Canadian market, where sports betting is expected to be introduced in the near future. In addition, this acquisition will allow Bally's to use MKF to develop new and attractive content for customers.

With the acquisition of MKF, Ballyz will be able to use both the current customer database and the DFS deposit player collection. These assets will also be a major advantage when Ballies launches a unique B2C sports betting business.

In addition, BALLY'S is unique by combining 37 states, Colombia special wards, and MKF's extensive geographical presence to Canada with Sinclair's important media footprints, including portfolios of 21 regional sports networks. We provide DFS services and intend to attract US sports fans.

"Since our founding, we have provided the best experiences to important players, have built strategic partnerships with teams, owner groups, players associations, and strengthen strategic assets and strengthen their market status. Bill Ashers have been differentiating from competitors, "said Bill Asher. The founder and CEO of Monkey Knife Fight. "I am very proud that MKF has accomplished in the past three years, and the talented Bally's team will continue to grow and develop a wonderful business, MKF. I am convinced that I am prepared.

As part of the acquisition, MKF is an immediate warant (after adjustment) that can purchase up to $ 50 million Bally's ordinary shares during closing, and a up to $ 20 million on the first and second days of closing. We plan to receive an accidental warrant (up to about $ 40 million) that can purchase additional ordinary shares. Inconcacted stock acquisition rights are related to the business in which MKF is continuously performing in jurisdiction areas where MKF operates businesses during closing. This transaction is scheduled to be completed in the first quarter of 2021 in accordance with the customary closing conditions.

Jones Day was a legal advisor to Bally's Corporation. Shearman & Amp; Sterling and Stikemon Elliott have been the legal advisor, and the MKF financial advisor served as a legal advisor.

Regarding Bally's Corporation, with the acquisition of < Span> Mkf, Ballyz can use both the current customer database and the DFS deposit player collection. These assets will also be a major advantage when Ballies launches a unique B2C sports betting business.

In addition, BALLY'S is unique by combining 37 states, Colombia special wards, and MKF's extensive geographical presence to Canada with Sinclair's important media footprints, including portfolios of 21 regional sports networks. We provide DFS services and intend to attract US sports fans.

"Since our founding, we have provided the best experiences to important players, have built strategic partnerships with teams, owner groups, players associations, and strengthen strategic assets and strengthen their market status. Bill Ashers have been differentiating from competitors, "said Bill Asher. The founder and CEO of Monkey Knife Fight. "I am very proud that MKF has accomplished in the past three years, and the talented Bally's team will continue to grow and develop a wonderful business, MKF. I am convinced that I am prepared.

As part of the acquisition, MKF is an immediate warant (after adjustment) that can purchase up to $ 50 million Bally's ordinary shares during closing, and a up to $ 20 million on the first and second days of closing. We plan to receive an accidental warrant (up to about $ 40 million) that can purchase additional ordinary shares. Inconcacted stock acquisition rights are related to the business in which MKF is continuously performing in jurisdiction areas where MKF operates businesses during closing. This transaction is scheduled to be completed in the first quarter of 2021 in accordance with the customary closing conditions.

Jones Day was a legal advisor to Bally's Corporation. Shearman & Amp; Sterling and Stikemon Elliott have been the legal advisor, and the MKF financial advisor served as a legal advisor.

Regarding Bally's Corporation, the acquisition of MKF will allow Bally's to use both the current customer database and the DFS deposit player collection. These assets will also be a major advantage when Ballies launches a unique B2C sports betting business.

In addition, BALLY'S is unique by combining 37 states, Colombia special wards, and MKF's extensive geographical presence to Canada with Sinclair's important media footprints, including portfolios of 21 regional sports networks. We provide DFS services and intend to attract US sports fans.

"Since our founding, we have provided the best experiences to important players, have built strategic partnerships with teams, owner groups, players associations, and strengthen strategic assets and strengthen their market status. Bill Ashers have been differentiating from competitors, "said Bill Asher. The founder and CEO of Monkey Knife Fight. "I am very proud that MKF has accomplished in the past three years, and the talented Bally's team will continue to grow and develop a wonderful business, MKF. I am convinced that I am prepared.

As part of the acquisition, MKF is an immediate warant (after adjustment) that can purchase up to $ 50 million Bally's ordinary shares during closing, and a up to $ 20 million on the first and second days of closing. We plan to receive an accidental warrant (up to about $ 40 million) that can purchase additional ordinary shares. Inconcacted stock acquisition rights are related to the business in which MKF is continuously conducted in jurisdiction areas where MKF operates businesses during closing. This transaction is scheduled to be completed in the first quarter of 2021 in accordance with the customary closing conditions.

Jones Day was a legal advisor to Bally's Corporation. Shearman & Amp; Sterling and Stikemon Elliott have been the legal advisor, and the MKF financial advisor served as a legal advisor.

About Bally's Corporation

Bally's Corporation currently owns and operates 11 casinos, one racetrack in seven states, and 13 OTB licenses in Colorado. The company has over 5, 900 employees and operates 13, 260 slot machines, 459 gaming tables, 2. Casino (Dover, Delaware), Bally's Atlantic City (Atlantic City, New Jersey), Eldorado Resort Casino Shreveport (Shreveport, Louisiana), Casino KC (Kansas City, Missouri), Golden Gates Casino (Blackhawk, Colorado), Golden Gulch Casino (Blackhawk, Colorado), Mardi Gras Casino (Blackhawk, Colorado), and Arapahoe Park Racetrack (Aurora, Colorado). The pending acquisitions, which include Tropicana Evansville (Evansville, Indiana), Jumah's Casino & Hotel (Rock Island, Illinois) and Arapahoe Park Racetrack (Aurora, Colorado), have been completed. Upon completion of pending acquisitions, including MontBleu Resort Casino & Spa (Lake Tahoe, Nevada) and construction of a land-based casino near Nittany Mall in State College, Pennsylvania, Bally's will own and operate 15 casinos in 11 states. The Company's shares trade on the New York Stock Exchange under the symbol "BALY."About Monkey Knife Fight

The third-largest daily fantasy sports (DFS) company, the award-winning Monkey Knife Fight (MKF) site is the fastest growing gaming platform in North America. MKF has experienced such explosive growth thanks to its unique, fun and exciting style of mobile sports gaming that truly levels the playing field for the average fantasy sports player. Unlike most DFS sites where the average sports fan is forced to play against the pros and rarely wins, MKF offers its loyal users a dynamic, creative and ever-expanding list of daily sports and esports competitions where having fun and winning are part of the experience. Daily contests are offered for NFL, NBA, MLB, NHL, Esports, Golf, Soccer, WNBA and NASCAR events.Follow Monkey Knife Fight on Facebook (@PlayMonkeyKnifeFight), Twitter (@MKF) and Instagram (MonkeyKnifeFight).

Future Statements

This release includes Article 27 of the 1933 Securities Law (after the amendment), Article 21 E (after the revision) of the 1934 Securities and Exchange Law, and the 1995 "Description of future outlooks" in the meaning of the Private Securities Litigation Reform Law. Is included. All of the 1934 descriptions include the hypothesis that constitutes the future financial and business results, the planning, goals, expectations, intentions of Bally's, and the abov e-mentioned description, except for historical facts. "Underestimation", "conviction", "belief", "possibility", "program", "project", "forecast", "continuation", or other similar words and expressions. The description of the future outlook is based on the current plan, estimates, and expectations affected by risk, uncertainty, and assumptions. If these risks and uncertainties are one or more, or if the assumptions are found to be incorrect, the actual results are largely from the description or expected by the prospects for the future. It may be different. Including such a description should not be considered to be a statement, estimation, or expectation. < SPAN> The release is "future prospects for the future outlook in Article 27 A (after the amendment), Article 21 of the 1934 Securities and Exchange Law (after the revision), and the 1995 Private Securities Litigation Reform Law. Includes "description". All of the 1934 descriptions include the hypothesis that constitutes the future financial and business results, the planning, goals, expectations, intentions of Bally's, and the abov e-mentioned description, except for historical facts. "Underestimation", "conviction", "belief", "possibility", "program", "project", "forecast", "continuation", or other similar words and expressions. The description of the future outlook is based on the current plan, estimates, and expectations affected by risk, uncertainty, and assumptions. If these risks and uncertainties are one or more, or if the assumptions are found to be incorrect, the actual results are largely from the description or expected by the prospects for the future. It may be different. Including such a description should not be considered to be a statement, estimation, or expectation. This release includes Article 27 of the 1933 Securities Law (after the amendment), Article 21 E (after the revision) of the 1934 Securities and Exchange Law, and the 1995 "Description of future outlooks" in the meaning of the Private Securities Litigation Reform Law. Is included. All of the 1934 descriptions include the hypothesis that constitutes the future financial and business results, the planning, goals, expectations, intentions of Bally's, and the abov e-mentioned description, except for historical facts. "Underestimation", "conviction", "belief", "possibility", "program", "project", "forecast", "continuation", or other similar words and expressions. The description of the future outlook is based on the current plan, estimates, and expectations affected by risk, uncertainty, and assumptions. If these risks and uncertainties are one or more, or if the assumptions are found to be incorrect, the actual results are largely from the description or expected by the prospects for the future. It may be different. Including such a description should not be considered to be a statement, estimation, or expectation.

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Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

Bally's recently announced it is acquiring Monkey Knife Fight, a daily fantasy sports gaming company that competes with DraftKings and FanDuel. Jan 31, In an announcement Monday, Bally's said it will acquire privately-held Monkey Knife Fight (MKF) in an all-stock transaction that one analyst. The casino and interactive entertainment company signed an agreement to acquire DFS operator Monkey Knife Fights.

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