Now that the Supreme Court has deemed sports betting legal in the United States, the National Hockey League is teaming up with MGM Resorts in a new betting partnership. MGM is the first official sports betting sponsor in league history.
Though the NHL won’t be receiving a cut of the actual betting commissions, the organization can expect to gain $216 million as a result of legalized sports betting, adding to their $4.5 billion revenue of last season.
MGM, as an official gaming partner and resort destination, will gain access to real-time advanced game data, as well as NHL intellectual property, including all trademarks, for marketing and promotional purposes.
“We couldn’t be more excited to enter into this historic partnership with the NHL.” –MGM Resorts Chairman and CEO Jim Murren
And betting fans should be excited with the multiyear deal as well because the gaming operator can set more accurate odds when they have access to data and analytics.
MGM already owns part of the arena of the newest addition to the NHL, the Vegas Golden Knights.
This deal is not exclusive to MGM, meaning individual teams are allowed to have other sports betting partnerships. The New Jersey Devils are jumping into this opportunity with both feet, signing with William Hill as well as Caesars. Their home arena, the Prudential Center in Newark, NJ, will get a luxurious William Hill Sports Lounge, featuring some great odds and more than 20 tvs to watch the most popular sporting events. William Hill already has several sportsbooks in New Jersey and the mobile betting app is available for use in the state as well.
Caesars will be able to advertise on the arena’s 80 digital boards and 4,800-square-foot outdoor screen during Devils home games and a new 5,000 square-foot sports betting themed bar and restaurant will be added to the arena under the name of Caesars Club.
The organization that operates the Devils, Harris Blitzer Sports & Entertainment (HBSE), also runs things for the NBA’s Philadelphia 76ers. The professional basketball organization has also signed a multiyear deal with Caesars, though on a smaller scale that includes arena advertising.
These exciting developments in the American sports betting industry were kicked off in July, 2018, when MGM made the first deal of this kind with the NBA and WNBA.
With more and more states allowing sports betting, more and more major casinos can be expected to jump on the gravy train to sponsor professional sports teams. The goal is to enhance the viewing experience and create an interactive environment where fans are emotionally and now financially invested in the outcome of the game.
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