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Bally’s Corporation has signed a purchase agreement to invest $5 million in Snipp Interactive. The company is expected to own about 9% of Snipp’s common and outstanding shares once the investment deal is completed.

As part of the agreement, Bally’s will receive a license to the SnippLOYALTY software program for a period of three years. The company will implement Snipp’s software across all of its physical and online properties. The first two implementations are expected to begin during the second quarter of this year.

The two companies have also formed a commercial partnership, which will name Bally’s as an exclusive partner for Snipp’s loyalty gaming platform, Gambit.

Snipp Interactive entered into a binding acquisition agreement with each shareholder of Gambit to acquire Gambit Digital Promotions in February of this year. The acquisition included its wholly owned subsidiary Gambit Rewards.

Gambit is the market regulatory body approved consumer network that integrates loyalty programs with online gaming and sports betting in America. Its early investors include well-known game executives and entrepreneurs Matt Davey and David VanEgmond.

Snipp Interactive Founder and CEO Atul Sabharwal said, “Bally’s is one of the most progressive companies in the gaming industry and their investment illustrates the value they see in SnippLOYALTY as well as our customer acquisition, retention and engagement platform. SnippCARE”.

“Our acquisition of Gambit was conceived as a way to better align ourselves with the gaming world. Now, just a few months later, we are entering a deep relationship with Bally’s. We welcome their presence on our board and look forward to building on their deep experience them in this high growth industry”.

Under the terms of the trade agreement, the two companies will work on a rebrand for Gambit’s loyalty platform. Bally’s will have exclusive branding rights to the platform, and Gambit will feature the company’s free games. Players will be able to connect Bally’s Loyalty Points with Gambit Game Tokens.

Adi Dhandhania, Chief Operating Officer, Bally Interactive, North America, commented, “Working together with Snipp furthers our strategic goals around omnichannel integration with well-established technology that can combine rewards platforms across the Bally brand and thus provide our customers a seamless user journey”.