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The Maryland Lottery and Gaming Control Commission (MLGCC) has issued a mobile sports wagering licence to Bally’s Interactive Maryland LLC.
Bally’s has now finished its controlled demonstration of its mobile wagering platform – Bally Bet Sportsbook – in the state.
Recently, Bally’s signed a merger agreement with Standard General for $4.6bn at enterprise value.
Gaming America spoke to Stephen Crystal, Founder and CEO of SCCG Management on the deal, who said: “Bally’s was in a situation where they acquired a lot of debt, expanded very quickly and made some missteps in the marketplace. They acquired assets at the height of the market and it became difficult to monetize those assets.
“So this is really a move, in essence, to recapitalize and restructure the company. Given its base of assets across the US, this is what’s necessary for them to be a strong company going forward.”
Maryland Lottery and Gaming staff supported Bally’s and ensured the sportsbook functioned properly during the application process. As a result, customers can now take part in live sports wagering with the operator.
During the period of July 2023-June 2024, sports wagering contributed $60.3m to the Blueprint for Maryland Future Fund, which supports public education programs.
