- US Online Poker
- US Online Casinos
- US Online Sports Betting
- FEATURE: Ontario Online Gambling
It seems as though Rhode Island-based Bally’s Corporation is following through on its plan to provide gamblers with an omnichannel experience, whether betting online or in its retail casinos. To that end, Bally’s is acquiring 9% of the multichannel “promotions, rebates, and loyalty solutions” company Snipp Interactive.
On Tuesday, Bally’s division Bally’s Interactive signed an agreement to invest $5 million in Vancouver-based Snipp. The latter company’s specialty is providing consumer rewards across retail and online channels.
Bally Interactive consists of Bally Bet, Bet.Works, Monkey Knife Fight and SportCaller. Bally’s will acquire its stake in Snipp once the investment is finalized. In compliance with Canadian law, that will happen four months and one day after the announcement.
The agreement comes with some added perks for Bally’s. It allows Bally’s to appoint one member of Snipp’s board of directors. It also gives Bally’s the “right of first refusal in respect to any offer to purchase all or substantially all of Snipp’s assets received by Snipp from any competitor of Bally’s.”
In June 2021, Bally’s Board Chairman Soohyung Kim told Online Poker Report the future of his company would be providing Bally’s customers with an “omnichannel experience.”
That’s perhaps because Kim, known by the nickname of “Soo,” foresaw online gambling complementing Bally’s land-based operations. These include Bally’s Atlantic City Hotel and Casino, which the company (formerly Twin River) acquired along with the Bally’s name. That deal provided the launchpad for Bally’s to get into the online gambling business.
At that time of OPR’s interview with Kim, Bally’s Interactive had just launched the first Bally Bet app. The online sportsbook went live in May 2021 in Colorado.
When others were worried that online casino gambling would cannibalize retail casino revenue, Bally Casino launched in January 2022 on the Bally’s Atlantic City license. That was the Bally Casino entrance into the New Jersey online casino market, as well as the US iGaming market.
Now, Bally Bet sportsbooks are live in five states, with Arizona, Iowa, Indiana and Virginia joining Colorado. Bally Bet is also expected to launch online sports betting soon in New York.
While Bally Bet and Bally Casino gamblers are instantly included in the omnichannel Bally Rewards program, Tuesday’s agreement with Snipp appears to augment that.
The most notable aspect of Tuesday’s agreement is Snipp making its Gambit Rewards program available to Bally’s. After that four-month, one-day waiting period for the agreement to close, Gambit Rewards will also rebrand.
As of now, the Gambit program allows consumers to trade points from the company’s “Rewards Partners” for Gambit Tokens. Redeemers can then use those tokens on Gambit’s free-to-play games platform. Winners of those free slots and sports games can pick from prizes which include cash or various gifts.
The agreement will “license certain free-to-play games and trademarks from Bally’s for inclusion in the Gambit Rewards platform.”
Gambit Rewards will also:
Snipp said on Tuesday:
“Gambit free-to-play tokens, now available in 48 states, are offered as a point redemption option through participating loyalty sites. Bally’s members will soon have access to Gambit’s unique free-to-play mode and Gambit members will soon be able to redeem their Gambit Prize Tokens in the form of Bally’s loyalty points at arm’s length rates.”
The announcement quoted Richard Pistilli, founder & CEO of Gambit Rewards:
“With 14 casinos, a racetrack, and digital sports betting properties across the country, Bally’s is the perfect partner to power Gambit’s Loyalty Gaming platform, and we look forward to revealing the newly designed and co-branded version of the platform in the near future. Our ability to deliver a proprietary gaming experience to consumers in nearly every state will help to expand Bally’s presence across the US.”
Bally’s also agreed to a three-year license of SnippLoyalty software, “intended for implementation across Bally’s physical and online properties.”
Bally’s will have the option of licensing that bespoke source code that’s going to be installed this summer to handle “receipt processing, real-time transaction processing, social media and other technology integrations, online rewards, data collection and analytics and more.” If Bally’s decides to do so, it’ll cost $10 million.
SnippCare has more of a marketing function, for “customer acquisition, retention and engagement.”
Adi Dhandhania, COO of Bally’s Interactive, North America, said:
“Working together with Snipp furthers our strategic goals around omnichannel integration with well-established technology that can combine rewards platforms across the Bally’s brand and, thereby, provide our customers with a seamless user journey.”
Snipp stock shot up from 13 cents on April 11 to 19 cents on April 12, the day of the announcement. The stock price remained at 19 cents on Wednesday. During that same timeframe, Bally’s stock was $27.16, rose to $28.24, and has reached $28.99 by our time of publication.