Bally’s launched its mobile betting product in New York six months after the market opened and almost nine months after it was announced as one of nine licensees.
The operator is in the state Bid processAfter the state approved the two bids, each contained a group of operators. The first operator in the state will be approved for launch in January, followed by the other operators in February.
But with competitive marketing and the state’s 51% tax rate, Barry Chairman Su Kim said he was waiting for things to look more favorable before the business started.
But now, the company has officially bet on the state of the Empire through the BallyBet Sportsbook with the Bet.Works platform, which it has agreed to acquire in 2020.
“We are live and betting on Big Apple in all major sports,” Barry’s said. “Sports bettors in the New York area can download the app to Android or iOS and start betting today.”
New York is the sixth state inhabited by BallyBet, after Arizona, Colorado, Iowa, Indiana and Virginia.
Another New York-licensed operator, BetMGM, has been active since January, but has a minimal marketing presence. According to Chief Financial Officer Gary Deutsch, this will be the strategy of the MGM-Entain joint venture until the state tax rate changes.
Barry’s was the subject of a takeover offer from Standard General earlier this year. Standard General is an investment fund led by Kim, who already holds a 20% stake in the operator. However, this was eventually rejected.
