Sinclair buys Fox Sports regional networks

In case you're wondering, Sinclair may need more than big Ballys to pull their collective butts out of the fire. Talk about buying high just before the market for live sports collapsed. Trying to play hardball with YouTube and Hulu didn't help, either.

And it couldn't happen to a better bunch of folks.

Sinclair took a $4.2 billion writedown over its regional sports networks

 

And in a different part of the media universe, looks like AT&T is wondering what value Bleacher Report brings to Turner, which is the same question we all asked when they suddenly shed all of their sports sites except for NBA.com to buy what was basically a content aggregator for a gazillion dollars.

Getting the last laugh. The execs got a huge payday back then for a startup, and now probably a nice golden parachute. I feel sorry for the folks losing their jobs in pricey San Fran, but them's the breaks.

Senior excutives Sam Toles, Alex Vargas, and Miguel DeAvila out at Bleacher Report

 

Only a fucking demented idiot has ever lost money being the Casino house

 

NOT SAM TOLES, ALEX VARGAS AND MIGUEL DEAVILA!

 

Nexstar would have to improve to be considered cheap.

 

And they use a file photo of the Atlantic City Bally’s, or as we call it, Sad Bally’s.

 

For a guy like me... there could be some REAL opportunity with this Sinclair/Bally's thing on the sports betting angle on the networks.

I'm kind of serious here.

 

Looking up the organization that Sinclair is hooking up with - it's about as downmarket as it gets in the gaming sphere. Unless casinos in Missouri, Delaware and Colorado wet your whistle. This isn't "big" Bally's, Vegas Ballys, it's the tangentially related, if only by name - Ballys.

 

When will the first Angels game be delayed because coverage of the World Poker Tour event went over its time allotment?

 

Exactly how does $85 million over a 10-year period soothe pain from a $4.2 BILLION writedown in one quarter? Journalists suck with numbers. And if that's the actual figure, Sinclair is really grasping for the life jacket here.

"As reported by the New York Post‘s Josh Kozman, Bally’s Hotels and Casinos will have its name on Sinclair’s 21 regional sports networks. The two sides agreed to a 10-year contract worth $85 million for the naming rights. (That could help soothe the pain from Sinclair’s recent $4.2 billion writedown on those RSNs, which the conglomerate purchased for $9.6 billion.)"

 

True on historic location but, in the last five years, you'll see a seismic shift in sports betting from Las Vegas to all of the states that set up shop right now. The betting outside of Nevada is so superior to inside of Nevada right now -- more books, better books (FanDuel/DraftKings), better promotions, better props. In Las Vegas, I have to spend $40 to buy a coupon book for all sorts of match-plays at 50 casinos. In my corner of the world, I get about $40-60 a day in various free play at the six sports books I have on my phone. A DAY. For free.