Sinclair Broadcast Group and casino operator Bally’s Corp. are apparently making a big bet that the appetite for sports betting is just getting started.
The New York Post reported that the two companies have signed a deal for Sinclair to rename its 21 sports networks Bally Sports.
Bally’s, which was just renamed from its owners former Twin River Holdings, owns Bally’s Atlantic City Hotel & Casino. It will pay Sinclair $85 million over a 10-year period for the naming rights to the sports networks.
That means its branding will be front and center for such teams as the Arizona Diamondbacks, the Detroit Tigers, the Tampa Bay Rays and the Kansas City Royals, among others.
Eventually, the companies hope to allow viewers to bet on games using a Bally’s online gaming tool accessed directly from their TVs.
Sinclair bought the Fox Sports regional networks last year as part of Disney’s purchase of 21st Century Fox.
The broadcast company will also get a 15 percent stake in Bally’s and has the right to increase that holding by another 15 percent if targets are reached.