Acquisition of Monkey Knife Fight from Bally’s Corporation is a major push in sports betting
Tackling the digital sports betting industry as legalization spreads across the country, the casino company Bally’s Company (NYSE: BALY) today announced its acquisition of fantasy sports operator Monkey Knife Fight. The company says the acquisition “makes Bally’s the third sports betting company in the United States to have a fantasy sports segment,” with an expected close this quarter.
Monkey Knife Fight is a fantasy sports games company that offers a mobile gaming platform and user database in the United States and Canada. The NFL and its players association entered into a partnership with Monkey Knife Fight in October 2020, in preference to a partnership with the other two big fantasy sports companies, DraftKings (NASDAQ: DKNG) or FanDuel, a subsidiary of Flutter Entertainment (OTC: PDYP.Y), according to US Betting Report.
Bally’s also cites “MKF’s extensive geographic presence, spanning 37 states, the District of Columbia and Canada” as the driving force behind its acquisition decision. Last July, Monkey Knife Fight said it was actively building fantastic sports user numbers in California, Florida and Texas with the goal of converting many of those users into digital sports players once legalized. in these states.
Monkey CEO Bill Asher said his company was developing “a unique position in these states to run a profitable fantasy sports site, while preparing for the game,” Sportico reports, a strategic plan Bally’s says now inherits from. acquisition.
The acquisition of all the shares values Monkey Knife Fight at around $ 90 million. Bally’s also recently acquired Bet.works for $ 125 million., giving it a ready-to-use sports betting app, and with sports television channel Sinclair Broadcasting as other elements of its rapid push into the profitable digital sports betting industry.
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