Benzinga | Oct 19, 2021 11:39AM EDT

Bally's, PepsiCo Ink Long-Term Beverage Partnership

* PepsiCo Inc (NASDAQ:PEP) entered a partnership, becoming the official beverage provider at Bally's Corp (NYSE:BALY) casinos and resorts nationwide. The financial terms of the arrangement were not disclosed.

* The partnership will bring PepsiCo's beverages portfolio, including carbonated soft drinks, teas, energy drinks, bottled and sparkling waters, and coffee-based beverages, to more than 14 Bally's properties across 10 states.

* PepsiCo now has exclusive pouring rights in Bally's restaurants, food courts, giftshops, convenience stores, and vending machines across the company's properties.

* PepsiCo products will be available in the participating Bally's locations by the end of October 2021.

* Price Action: BALY shares are trading lower by 1.58% at $50.35, while PEP is up 0.30% at $158.57 on the last check Tuesday.