Casino operator Bally’s Corporation has further diversified its offering by acquiring daily fantasy sports operator Monkey Knife Fight (MKF), while rival Caesars Entertainment has made its own DFS play. 

On Monday, Bally’s (formerly Twin River Worldwide Holdings) announced the signing of a definitive agreement to acquire MKF, the third-biggest DFS operator behind market giants DraftKings and FanDuel and possessor of what Bally’s calls “the fastest-growing gaming platform in North America.”

The $90m transaction, which Bally’s expects will close in the current quarter, is an all-stock affair. MKF will get immediately exercisable penny warrants to buy around $50m worth of Bally’s shares, as well as contingent penny warrants to buy up to $20m more shares on each of the deal’s first and second anniversaries of closing. 

Bally’s plans to incorporate MKF into its new ‘Bally’s Interactive’ division, which also includes the Bet.works sports betting and iGaming platform that Bally’s acquired last November. The MKF add-on will make Bally’s only the third US sports betting operator to include a DFS component, joining DraftKings and FanDuel (more on Caesars’ efforts to join this formerly exclusive club below).