Bally’s Corp., the gaming, betting and interactive entertainment giant, has announced that it has completed the acquisition of Telescope, a provider of real-time audience engagement solutions for live events.
Bally’s Corp. Acquires Telescope
Bally’s Corp. has acquired a real-time audience engagement solutions provider for live events, Telescope. Bally’s didn’t disclose the financial terms of the deal, only saying that Telescope’s products would boost its BallyBet, Bally’s Interactive, and Bally’s Sports brands by offering customers a new engaging experience on various channels and platforms.
This deal comes after Bally’s reported a net profit of $68.9 million for its Q22021, showing a significant increase compared to the same period in 2020. Bally’s also had the single largest revenue quarter in company history, with $267.7 million, reporting an 826.3% increase compared to the same time in 2020.
Acquisition of Telescope is Part of an Innovation Strategy
Bally’s senior vice president of strategy and interactive, Adi Dhandhania, said that mobile technology plays a significant role in iGaming and sports betting. With Telescope’s innovative products, Bally’s will add creativity and expertise to providing effective social and digital media space to its customers.
Dhandhania said, “We look forward to working alongside the Telescope team to not only strengthen the business but also develop new engagement tools that we can leverage across our expanding media and digital footprint.”
According to Telescope chairman Jason George, the industry has seen a shift from TV to digital video across social and OTT platforms. He said that the next step is “true gamification” with an immersive experience and players engaging with their favorite live events.
George said that by becoming a part of Bally’s Corp, the company would continue to innovate its offerings. Through its best possible services Telescope aims to help Bally’s integrate play-along experiences and engage with its customer base in a new way.
Bally’s Continues Expansion on the US Sports Betting Market
Bally’s Corp. continues to expand. In July, the company bought out the Association of Volleyball Professionals (AVP), spreading its foothold on the US sports betting market even further. AVP is the biggest beach volleyball organization in the US. It hosts domestic events and represents athletes, and this strategic move reaffirms Bally’s ambition to provide greater diversification of its product offering that has been a part of its recent successful collaborations like its partnership with Sinclair Broadcast Group.
Last year, as part of its naming rights deal, Sinclair started rebranding its Fox Sports regional channels into Bally Sports. This year, the partnership leveled up. As part of the deal, Sinclair now includes more sports gambling data content on regional channels, even when no games are being covered.