Twin River Gets Ready to Take Over Legal Online Sports Betting and Gambling As the Company Rebrands

With a series of significant acquisitions in the last quarter, Twin River Worldwide Holdings is on its path to become a betting powerhouse in the USA regulated market. In the most recent press release, Twin River indicated that it would be rebranding to Bally’s Corporation, effective from November 9. This move will also see the newly branded company trading under the signal “BALY” on the New York Stock Exchange, effective from the same date too.

Twin River’s chairman to the board of directors, Soo Kim, hinted that the new brand and logo would help align its activities to its future goals, including launching diverse gambling and entertainment products. Soo Kim also said that the new logo would make Americans feel proud to associate with the company as it reflects deep history and culture in the American entertainment industry. Twin Rivers acquired the iconic Bally’s brand from Caesars Entertainment.

Twin River Will Be the Next Omni-Channel Operator

Twin River’s Chief Executive Officer, George Papanier, remains optimistic that the newly-branded company will continue expanding geographically, as they become the first USA Omni-Channel operator. The plan includes integrating all the physical casinos with digital solutions to expand the retail customer reach.

Currently, the company has around 14 physical casinos spread across ten states. Other gambling infrastructures that Twin River possesses include a single racetrack and 13 Off-track bettings (OTBs).

It is also essential to understand that Twin River’s customer database indicates that they serve about 80 million active clients who come across the ten states with physical casinos.

Rebranding the company and introducing new products is projected to bring an additional 14 million subscribers to its database. An audit on the company’s latest acquisitions shows they’ll be having 16,000 more slot machines, 3900 hotel rooms, and at least 500 table games.

Twin River’s Plan to Expand to New Jersey

The plans of FanDuel to open a retail sportsbook in New Jersey by the beginning of 2020 might come to a slight halt as Twin River moves to close its deal with Bally’s casino. FanDuel initially eyed a spot at the Balley’s casino.

It is also important to note that Bally’s casino already hosts a William Hill-powered sportsbook. Therefore, there is a high probability that Caesars Entertainment will run and power both sportsbooks once Twin River finalizes the paperwork on Balley’s acquisition.

Nevertheless, FanDuel responded and hinted that the sportsbook’s location at Bally is temporary. They are still hunting for a permanent spot that will officially launch in spring 2021, which could even see them partnering. It will be a hotly contested race for supremacy between the two operators in New Jersey.

FanDuel currently powers the most popular sportsbook in the region and is looking forward to setting up another one in Atlantic City. On the other hand, Twin River now joins the map, hoping to bring the latest technology and betting markets ever witnessed.

Twin River’s Partnership With FanDuel in Colorado

It will not be the first time for FanDuel to find itself in a situation that forces it to partner with Twin River, as it will likely be at Bally’s casino. In May, the two companies joined hands to run FanDuel’s Sportsbook app and an online betting platform at Twin River’s property in Colorado.

Again, the two operators have hinted at collaboration, but we aren’t sure how long it will last as Twin River is also venturing into internet gambling. Some analysts see this as Twin River’s move to acquire the sportsbook retail in future as it did in other states.

As Sands Corporation exits the USA gambling industry, Twin River is looking forward to integrating physical casinos with online platforms. Will the newly-branded Twin River grow as big as they aspire? Let’s see what reception they’ll get in New Jersey.

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Jackson
Our in-house expert for all things regulation, Jackson covers all major recent developments across US states relating to gambling laws & legislation.