Bally's Acquires $5M Stake in Snipp, Integrates Gambit Rewards Program
$5,000 Welcome Bonus
A subsidiary of Bally’s Corporation and Snipp Interactive have signed a deal to purchase a minority position in the global supplier of digital marketing promotions, rebates and customer loyalty solutions.
Bally's Corporation will invest $5 million in Snipp. Bally’s subsidiary will be granted the authority to nominate one director to Snip”s board of directors. Snpp will use the revenues of the investment to fund sales, marketing and general working capital needs in the company's operations. The shares will remain subject to a hold period of four months and one day. There will not be a finder s fee paid in connection with the transactions.
Bally's has acquired a stake in Snipp. Snip offers up to $5,000 in bonuses and 250 casino games.
Bally's will be the sole gaming partner for Snipp's loyalty gaming platform Gambit. Bally’s will get a three-year license of the SnipperLoyalty software platform at arm's length rates. The agreements will also allow Baly's to license the source code for the specific versions of Snip's software for a fee of up to $10 million.
Bally's has acquired a stake in Snipp. Bally’s has 14 casinos, a racetrack, and digital sports betting properties across the US. Gambit Rewards will integrate Baly”s products into its platform. Gambits will exchange their GamBit reward tokens for Bary“s loyalty points at arm length rates in the near future.
