{"id":228,"date":"2021-05-17T16:20:23","date_gmt":"2021-05-17T13:20:23","guid":{"rendered":"https:\/\/xxbet-company.com\/sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord\/"},"modified":"2021-05-17T16:20:23","modified_gmt":"2021-05-17T13:20:23","slug":"sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/pl\/sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord\/","title":{"rendered":"Sinclair Broadcast Talking to Betting Companies on Bally\u2019s-Like Accord"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Spis tre\u015bci<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/pl\/sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord\/#Could_Ballys_Template_Be_Used_Again\" title=\"Could Bally\u2019s Template Be Used Again?\">Could Bally\u2019s Template Be Used Again?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/pl\/sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord\/#Wynn_in_the_Mix\" title=\"Wynn in the Mix\">Wynn in the Mix<\/a><\/li><\/ul><\/nav><\/div>\n<p>Sinclair Broadcast Group is looking to strike more deals akin to the one media company reached last year with casino operator Bally\u2019s Corp. (NYSE:BALY). The moves come as it\u2019s scrambling to rework the debt load at its regional sports network (RSN) business.<\/p>\n<figure aria-describedby=\"caption-attachment-171853\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-171853 size-full lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-142x80.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-142x80.jpg?x38396\" alt=\"Sinclair Bally&#039;s\" width=\"1200\" height=\"675\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-171853 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG.jpg?x38396\" alt=\"Sinclair Bally&#039;s\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/SBG-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Sinclair Broadcast Group headquarters in Maryland pictured above. The company is said to be in talks with two sports betting companies for media deals. (Image: <em>Baltimore Sun<\/em>)<\/figcaption><\/figure>\n<p>Sinclair is reportedly actively engaged in discussions with creditors of its Diamond Sports Group LLC unit. Those talks allegedly involve the possibilities of new financing, with bolstered protections to the lenders.<\/p>\n<p>The media company acquired 21 RSNs in 2019 from Walt Disney for $10.6 billion while that company was divesting assets to win regulatory approval of its takeover of 21<sup>st<\/sup> Century Fox. At that time, the RSNs were valued at $16 billion.<\/p>\n<p>Of that $10.6 billion paid, Sinclair paid just $1.4 billion in cash, with the rest coming in the form of proceeds <a href=\"https:\/\/www.casino.org\/news\/ballys-name-heading-to-sinclair-sports-networks-in-gaming-media-deal\/\" rel=\"nofollow noopener\" target=\"_blank\">from high-yield bonds sales<\/a> and loans. But debt coming due in 2026 and 2027 issued by Diamond Sports recently traded at distressed levels after cord-cutting, some cable providers dropping RSNs, and the sports shutdown forced by the coronavirus pandemic all weighed on the RSNs\u2019 financial performance.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>Sinclair is in discussions with two sports betting companies for marketing partnerships that resemble a deal the broadcaster made with Bally\u2019s Corp. last year,\u201d<\/strong> reports <i>Bloomberg<\/i>, citing sources familiar with the matter.<\/p>\n<\/blockquote>\n<p>That pair of gaming companies weren\u2019t identified.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Could_Ballys_Template_Be_Used_Again\"><\/span>Could Bally\u2019s Template Be Used Again?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s not yet clear how Sinclair\u2019s new agreements with betting operators will shake out, or if those accords will come to fruition at all.<\/p>\n<div class=\"callout\">\n<p>However, the media company could seek pacts that resemble its deal with Bally\u2019s. Under the terms of that agreement, the Rhode Island-based gaming company is paying Sinclair $85 million over 10 years for naming rights on the aforementioned RSNs. Sinclair also got a 15 percent equity stake in the casino operator, which can grow to 30 percent over time if certain financial objectives are met.<\/p>\n<\/div>\n<p><strong>It remains to be seen if Sinclair can gain similar terms with other gaming entities. But as far as the Bally\u2019s deal goes, Diamond Sports creditors probably like it, because the media company has an appreciating asset it eventually can pare down to raise capital.<\/strong><\/p>\n<p>When Bally\u2019s agreement was revealed last November, the operator had a market capitalization of about $913 million. Today, it\u2019s $2.48 billion, meaning <a href=\"https:\/\/www.casino.org\/news\/ballys-boosts-sinclair-partnership-more-content-coming\/\" rel=\"nofollow noopener\" target=\"_blank\">Sinclair\u2019s 15 percent stake<\/a> in the company more than doubled in value.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Wynn_in_the_Mix\"><\/span>Wynn in the Mix<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the wake of the Bally\u2019s\/Sinclair announcement last November, it was reported that Wynn Resorts (NASDAQ:WYNN) was the company Bally\u2019s beat out for the deal.<\/p>\n<p>Though it\u2019s not clear if Wynn is one of the two operators the media company is currently in talks with, two things are obvious.<\/p>\n<p><strong> First, the Las Vegas-based company <a href=\"https:\/\/www.casino.org\/news\/wynnbet-genius-sports-announce-new-data-deal\/\" rel=\"nofollow noopener\" target=\"_blank\">is actively growing<\/a> its sports betting business. Second, it\u2019s one of the names in the space currently lacking a marquee media partnership.<\/strong><\/p>\n<p>Earlier this year, Macquarie estimated relationships between <a href=\"https:\/\/www.casino.org\/news\/sports-betting-media-deal-economics-are-in-early-innings\/\" rel=\"nofollow noopener\" target=\"_blank\">gaming and media entities<\/a> will drive more than $30 billion worth of iGaming and sports wagering revenue by 2030.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/sinclair-is-reportedly-seeking-more-sports-betting-deals\/\" target=\"_blank\">Sinclair Broadcast Talking to Betting Companies on Bally\u2019s-Like Accord<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Sinclair Broadcast Group is looking to strike more deals akin to the one media company reached last year with casino operator Bally\u2019s Corp. (NYSE:BALY). The moves come as it\u2019s scrambling to rework the debt load at its regional sports network (RSN) business. Sinclair Broadcast Group headquarters in Maryland pictured above. The company is said to <a href=\"https:\/\/xxbet-company.com\/pl\/sinclair-broadcast-talking-to-betting-companies-on-ballys-like-accord\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/228"}],"collection":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/comments?post=228"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media\/229"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media?parent=228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/categories?post=228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/tags?post=228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}