The Maryland Lottery and Gaming Control Commission (MLGCC) has issued a mobile sports betting license to Bally's Interactive Maryland LLC.
Bally's has now completed a controlled demonstration of its mobile betting platform – Bally Bet Sportsbook – in the state.
Recently, Bally's and Standard General signed a merger agreement with an enterprise value of $4.6 billion.
Gaming AmericaStephen Crystal, founder and CEO of SCCG Management, was interviewed about the deal. He said: "Bally's was in a position where it was heavily indebted, expanding very quickly, but they made some mistakes in the market. They acquired at the peak of the market. assets, but it is difficult to monetize these assets.
“So this is really a move to recapitalize and restructure the company. It’s necessary for them to be a strong company in the future given their asset base across the U.S.”
Maryland Lottery and Gaming staff are providing support to Bally's and ensuring the sportsbook is operating properly during the application process. As a result, customers can now participate in live sports betting with the operator.
Between July 2023 and July 2024, sports betting contributed $60.3 million to Maryland’s Blueprint for the Future Fund, which supports public education programs.
