National Basketball Association strikes deal with MGM Resorts to become 'gaming partner'

DraftKings CEO Legal sports betting will bring innovation

DraftKings CEO Legal sports betting will bring innovation

MGM's staff will undoubtedly be consumed by enquiries about its deal with the famous basketball league, which allows it to use official NBA and WNBA data and branding on a non-exclusive basis across its land-based and digital sports betting offerings throughout the US.

"We are excited to team yet again with Boyd Gaming on this unprecedented partnership, which allows us to fully engage with the nearly 30 million M life Rewards members throughout the country", MGM Resorts Chairman and CEO Jim Murren said. The intellectual property includes signage and other materials identifying MGM as the official betting home for the National Basketball Association.

"Let's take advantage of this opportunity and do something historic and that is to enter into the first commercial partnership between a gaming establishment and the NBA", Silver said.

New Jersey officials have yet to officially confirm a launch date for mobile and online betting.

The NBA and MGM are expected to promote the direct data feed relationship because it will enhance the live betting product. It has sponsored the last two years of the NBA Summer League, and it owns the WNBA's Las Vegas Aces, who play at MGM Resorts' Mandalay Bay Events Center.

It's likely that MGM's announcement will spur Caesars, Golden Nugget and other potential NJ sports betting operators to join the online wagering market soon.

Are there official betting partners of sports leagues in countries where sports betting is already legal?

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With the American Gaming Association estimating that the previously illegal sports betting industry at $150 billion a year, could the pair be set for a huge win? This seems to leave the door more than a little ajar for the NBA's respective teams to disband and agree deals with sports betting organisations themselves, time will tell.

MGM announced Monday a joint venture with the United Kingdom-based owner of Ladbrokes, GVC Holdings, and a separate deal with USA -based regional casino operator Boyd Gaming Corp. The company says it may expand the mobile betting app to other states besides New Jersey, if and when it makes financial sense to do so.

"We believe the joint venture deal is a net positive for both GVC and MGM as MGM gains the invaluable, and hard to recreate technology platform and online expertise that GVC possesses in a cost efficient manner", Deutsche Bank analyst Carlo Santarelli wrote in a note to investors.

It's the first time a major US sports league has a business-to-business deal with a sportsbook provider and could open a path for other leagues to make similar arrangements.

Boyd is in the process of buying Valley Forge Casino Resort in King of Prussia.

It is now clear that MGM is not going to allow themselves to go quietly in the new United States markets.

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