The body is the host of the longest-running domestic beach volleyball tour in the US.
Bally's states the acquisition is part of its ongoing omnichannel growth and diversification strategy.
The operator feels the agreement is a “significant opportunity for the company to gamify and incorporate interactive content into beach volleyball”, which it hopes will drive traffic to its platforms.
Bally’s wishes to leverage AVP’s distribution channels to increase consumer engagement and awareness of the league.
Under the terms of the agreement, Bally’s will acquire all of AVP’s assets, such as trademarks, promoter agreements, associated recurring membership revenue, and all proprietary tournament and league management software.
Adi Dhandhania, SVP Strategy and Interactive, said: "The AVP is an attractive asset that complements our US sports betting vision.
“Donald and the entire AVP team have done a tremendous job developing the league and transforming it into what it is today; and we look forward to exploring creative ways to amplify and gamify such a dynamic and high-growth sport, providing beach volleyball fans across the nation with unique and interactive content."
Donald Sun, former owner and CEO of AVP, added: "Forming a new relationship with a trusted, forward-thinking partner like Bally's offers the opportunity to develop a strategic roadmap that will grow the sport, expand its footprint and provide new resources to better elevate the game and its athletes.
“I look forward to being an integral part of the transition, focusing on the best interests of all AVP athletes, fans, staff and partners."
