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Benzinga
Benzinga
Business
Shivani Kumaresan

Bally's Acquires 9% Stake In Snipp Interactive

Bally Gambit NYSE
  • Bally's Corp (NYSE:BALY) subsidiary has signed an agreement to invest $5 million in Snipp Interactive Inc (OTC:SNIPF).
  • As part of the investment, Bally's will be entitled to nominate one director to Snipp's board of directors.
  • Following completion of the Investment, Bally's is expected to own approximately 9% of the issued and outstanding common shares of Snipp.
  • Bally's and Snipp will also enter into commercial agreements. Bally's will become Snipp's exclusive gaming partner for the loyalty gaming platform, Gambit.
  • Bally's will also receive a three-year term license of the SnippLOYALTY software platform at arm's length rates.
  • Price Action: BALY shares are trading higher by 0.59% at $27.32, and SNIPF is higher by 30.2% at $0.16 on Tuesday's last check.
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