Today an announcement spread across the gaming and betting industry that one of the leading gaming and entertainment corporations in the United States, Bally’s Corporation, revealed its latest acquisition Monkey Knife Fight, but what is it and how valuable is it?
Monkey Knife Fight, also known as MKF, is an award winning gaming platform and is the third biggest operator of daily fantasy sports in the US, behind FanDuel and DraftKings.
Daily fantasy sports are popular worldwide and are a type of fantasy sport game that players engage in to create a team and compete against others.
Although this take-over was rumoured to be on the cards for a while, the announcement came this morning on the 23rd March 2021.
By taking over the fantasy sport provider, Bally’s Corporation now becomes one of only three sports betting firms in America that provides fantasy sports services.
This move by the land-based gaming giant brings the company closer to its overall goals for growth and expansion as part of its business to business and consumer model.
Ultimately, Bally’s is setting its sights on becoming the first ‘truly vertically’ integrated iGaming and sports betting company in the USA.
Bally’s Corporation is one of the most popular and well-known casino operators in America and the brand is instantly recognisable in a number of states.
The company has been pleased to announce the closure of the deal today and is now looking to focus on incorporating the firm in to its existing digital arm.
According to reports a couple of months ago, Monkey Knife Fight is worth $90 million and its services are expected to be integrated in to more than ten of the corporations casino venues and online platforms.
This acquisition by Bally’s is being viewed as a positive step in its omni-channel approach and will become an integral part of its long term strategy to diversify the business across land-based and digital-based channels.
Going forward, sports fans across the US will now be able to enjoy a daily fantasy sports platform that is dynamic and provides innovative engagement, backed by the power of a leading gaming brand.
Reportedly, the acquired platform currently has around two-hundred-thousand users that are registered, almost half of which are depositing players of the daily fantasy sports games.
These figures will undoubtedly provide a significant stepping stone for Bally’s Corporation in terms of its own business to consumer sports betting operations and builds on a very active geographical presence in more than thirty US states and parts of Canada.
What are the benefits of playing daily fantasy sports with Bally’s newest acquisition over other brands, is a question that many sports fans ask. A few of the perks include no time consuming salary caps, second half contests and players are not forced to compete against professional players.