The Sinclair Broadcast Group is a telecommunication company based in America. It is a publicly yarded American telecommunication conglomerate founded by Julian Sinclair Smith in the year 1986. The company is now a family-owned business of Sinclair headquartered in Baltimore suburb of Cockeysville, Maryland. Sinclair Broadcast Group is the second-largest television station operator in the United States. The company has some of the major television stations under complete control in the United States. The Sinclair Group owns digital multicast networks, sports-oriented cable networks, and streaming service. The assets and the success of Sinclair Group have been increasing with every passing year.
The Bally’s Corporation is a gambling company based in Lincoln, Rhode Island. The company owns and operated twelve casinos and racetrack properties spread around different cities and states. Bally’s Corporation was founded in the year 2004. The Bally’s Corporation operates with the net income of $41.4 million as of 2018 and revenue of $437.5 million as of 2018. The company has acquired a great reputation and dominance in the world of gambling, casinos, and sports betting. The company took a major step in the year 2021 by announcing its amazing partnership with Sinclair Broadcast Group on Wednesday.
The announcement of Sinclair and Bally’s
Sinclair Broadcast Group announced its partnership with the sports betting company and casino operator Bally’s. Sinclair has announced it will rebrand its 21 Fox regional sports network under the name of Bally’s. On Wednesday along with the announcement Sinclair Broadcast Group and Bally’s unveiled their new logo for 19 regional sports networks. The world of gambling and sports betting is generating millions of revenue and the government is slowly trying to legalise gambling and sports betting. The Sinclair Broadcast Group took perfect advantage of this situation and partnered up with Bally’s casino operator.
The deal of Sinclair and Bally’s
Sinclair Broadcast Group has taken over 14.9% stake in the Bally’s and has the right to raise its stake by another 10% if met by financial targets. Sinclair Broadcast Group acquired 22 Fox regional sports network from Walt Disney Co in the year 2019. Now to generate more profit and revenue Sinclair has partnered up with Bally’s wherein the Bally’s will get complete marketing access to broadcast the sports betting on the 190 television stations owned by the Sinclair Group. Sinclair and Bally’s estimate a market of dollar 50 billion by the year 2025.