MGM Resorts International and media giant Yahoo announced a partnership agreement Tuesday geared toward mobile sports betting that will utilize the gaming company’s Roar Digital mobile platform.
According to a statement, Yahoo Sports will become an official digital media sports partner of MGM Resorts through the multi-year partnership agreement. Roar Digital, a 50-50 collaboration between MGM Resorts and United Kingdom wagering giant GVC Holdings, operates the BetMGM mobile app, which is currently only live in Nevada and New Jersey.
Financial terms were not disclosed.
Under the deal, MGM Resorts and Yahoo Sports will collaborate on various content experiences, such as live events and nearly two dozen high profile major sporting and promotional marketing efforts.
MGM Resorts will distribute Yahoo Sports content across its properties and platforms. Yahoo Sports will host multiple player events at MGM Resorts properties.
“This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector,” MGM Chairman and CEO Jim Murren said in a statement. “Integrating Yahoo’s leading fantasy sports operations and content with BetMGM’s sports betting and interactive platform uniquely positions us to drive market share and large-scale adoption among sports fans.”
The agreement between MGM Resorts and Yahoo follows other partnerships that have developed between gaming companies and media corporations since the landmark May 2018 Supreme Court ruling that opened the U.S. to legal and regulated sports betting.
Fox Sports and the Stars Group got together and Caesars Entertainment and ESPN have a content agreement that includes plans to build an ESPN studio at the Linq on the Las Vegas Strip. Caesars has a separate deal with Turner Sports to build a Bleacher Report-branded television studio at Caesars Palace.
Roar Digital CEO Adam Greenblatt said in a statement the partnership will allow BetMGM to reach “the widest possible audience” of U.S. sports fans.
“The Yahoo Sports app and digital sports content is enjoyed by 60 million U.S. users every month, while Yahoo Fantasy Football clocks 9 billion minutes of user time every year,” Greenblatt said. “Together we offer fans a winning combination.”
Since the ruling, 13 states, including Nevada’s legacy market, have launched sports betting operations through casinos, racetracks and mobile wagering applications. Another five states, along with Washington D.C., could launch legal sports betting by the end of the year.
“The historic partnership with Yahoo Sports and BetMGM will change the future of fandom, providing new ways for sports fans to go beyond engaging with content and interact through commerce,” said Guru Gowrappan, CEO of Verizon Media, which owns Yahoo.
MGM and GVC each invested $100 million to launch Roar Digital last year. Murren has said sports betting is a key growth market for MGM Resorts.
“We have a very strong belief that sports betting increases our connection to our customers,” Murren told the Nevada Independent this month.
MGM has been active in establishing partnerships with three of the four major professional sports leagues. The company has struck marketing deals with several teams, including placing the MGM Resorts logo on the Green Monster at Boston’s Fenway Park, home of the Red Sox. In September, MGM announced a sports betting partnership with the Buffalo Wild Wings sports bar franchise.
MGM and Boyd Gaming Corp. have a sports betting deal with Boyd Gaming Corp. for access to the companies’ regional casinos.
Tuesday’s statement from Yahoo and MGM included quotes from NBA Commissioner Adam Silver and NHL Commissioner Gary Bettman.
#newsroom – Sports betting partnership unites Yahoo Sports and MGM Resorts. –@howardstutz, CDC Gaming. https://t.co/RRxLhITarL @MGMResortsIntl @YahooSports #CDCgaming
— CDC Gaming (@CDCNewswire) October 29, 2019
“As sports betting continues to transform the industry, this partnership brings together the power of two trusted partners of the NBA,” Silver said.
Bettman said “the expanding sports betting landscape presents exciting opportunities to increase fan engagement and leverage emerging technologies.” He added that Yahoo and MGM “will connect fans to the action on the ice in new and innovative ways.”
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
