Bally’s buys minority stake in Snipp

Snipp Interactive, a provider of digital marketing promotions, rebates and loyalty solutions, has announced that a subsidiary of Bally’s Corporation is investing $5m in it.

Bally’s will now be entitled to nominate one director to Snipp’s board and will be provided with the right of first refusal for any offer to purchase all or most of Snipp’s assets.

The investment will be completed following customary closing conditions and it will give Bally’s nine per cent of the shares in Snipp.

A number of commercial agreements between Snipp and Bally’s will follow and will see Bally’s become the exclusive gaming partner for Snipp’s loyalty gaming platform.