Sinclair, Bally's rise on new television marketing deal

Bally

19/11/2020 17:40

(Updates)
    ** Shares of television broadcaster Sinclair  SBGI.O  and
sports betting co Bally's Corp  BALY.N  jump after cos sign a
new marketing deal
    ** BALY rises as much as 22.7% to a record high of $37.41;
stock last up ~20%, set for it best day in nearly eight months
    ** SBGI surges as much as 19.6% to a near nine-month high;
shares last up 5.8% 
    ** SBGI said it will rebrand its 21 Fox regional sports
networks under the Bally name and take a 14.9% stake in Bally's
 urn:newsml:reuters.com:*:nL4N2I50M2
    ** Bally's will gain marketing access across Sinclair's 190
television stations 
    ** Bally's said on Wednesday it would buy sports betting
platform Bet.Works for $125 mln  urn:newsml:reuters.com:*:nPn7yQW8ha
    ** With Thursday's gains, SBGI down 21.9% this year, while
BALY has jumped over 43%

 (Reporting by Eva Mathews in Bengaluru)
 ((eva.mathews@thomsonreuters.com))