Bally’s completes acquisition of daily fantasy sports operator Monkey Knife Fight

March 23, 2021 8:00 PM
  • Howard Stutz, CDC Gaming Reports
March 23, 2021 8:00 PM
  • Howard Stutz, CDC Gaming Reports

Bally’s Corp. said Tuesday it completed its acquisition of daily fantasy sports provider Monkey Knife Fight, which the company plans to add to its growing digital gaming platform.

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The deal was first announced in January. Rhode Island-based Bally did not provide an acquisition cost for the privately held company, but an analyst said at the time the transaction could be worth as much as $90 million.

Monkey Knife Fight’s platform has approximately 200,000 registered users and 90,000 depositing players. The site is considered the third-largest daily fantasy site in the U.S. behind DraftKings and FanDuel.

Bally’s said the deal contributes to the company’s player database ahead of its sports betting launch later this year. Bally’s acquired sports wagering platform Bet.Works last fall for $125 million and struck a partnership with Sinclair Broadcast Group in which the Bally’s name will replace Fox on Sinclair’s 21 regional sports networks.

Bally’s said adding MKF expands on the company’s integrated sports betting and igaming strategy. The Rhode Island-based casino operator currently has 11 casinos in seven states with deals in place for four additional casinos in four other states.

Last week, Nevada gaming regulators approved the company’s acquisition of MontBleu Resort in Lake Tahoe and Bally’s expect to close the acquisition next month.

“Entering the daily fantasy sports market is an integral component of our omnichannel approach and an important milestone for our company as we continue our long-term diversification strategy,” Bally’s CEO George Papanier said in a statement.

Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.