Yahoo Sports, BetMGM announce sports betting partnership deal

MGM Grand Las Vegas.JPG
Posted at 10:27 AM, Oct 29, 2019

NEVADA (KTNV) — A new partnership between MGM Resorts and Verizon will result in a sports betting experience that will be available on Yahoo Sports.

Yahoo Sports and BetMGM announced an exclusive partnership that they say will offer fans unique content experiences and live events.

Guru Gowrappan, CEO of Verizon Media and Jim Murren, chairman and CEO of MGM Resorts International announced Tuesday that Yahoo Sports has entered into a partnership with MGM Resorts and Roar Digital.

This will be a joint venture between the gaming industry leaders MGM Resorts and GVC Holdings, to power sports betting for Yahoo Sports and create collaborative content experiences and live events, according to a news release about the deal.

Jennifer Roberts is the Associate Director of the UNLV International Center for Gaming Regulation. She said partnerships like this will most likely become more common, especially after the Supreme Court passed a law in 2018 saying states can decide themselves if they want to make sports gambling legal.

Currently, 13 states have legalized sports betting.

"I think you’re going to see a lot more collaboration and partnerships with media companies, sports betting companies, gambling companies, sports companies, so it’s an exciting time for business and it’s an exciting time for the sports betting industry," said Roberts.

She said as of now, 50% of these bets are made online in Nevada, but even if the digital gambling increases, she does not anticipate it having a negative impact on physical businesses.

"I think people will still come to the brick and mortar establishments to engage in watching the scores and being with friends, but mobile platforms are the trend of the future," said Roberts.

As part of the multi-year partnership, the integration will launch in the Yahoo Sports app in November in the U.S., with transactions to take place on the BetMGM platform. Yahoo Sports will be an official Digital Media Sports Partner of MGM Resorts.

"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 Gowrappan. "At Verizon Media, we believe in building products that connect consumers to their passions and drive the deepest end-to-end value possible."

"This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector," said Murren. "Integrating Yahoo's leading fantasy sports operations and content with BetMGM's world-class sports betting and interactive platform uniquely positions us to drive market share and large-scale adoption among sports fans."

The experience will feature a wide variety of global sports, including the NBA, NHL, football, college sports, baseball, soccer, golf, and tennis.

"As sports betting continues to transform the industry, this partnership brings together the power of two trusted partners of the NBA," said NBA Commissioner Adam Silver. "By working together, MGM Resorts and Yahoo Sports will offer fans unprecedented ways to engage with our games."

"The expanding sports betting landscape presents exciting opportunities to increase fan engagement and leverage emerging technologies," said NHL Commissioner Gary Bettman. "MGM Resorts, a valued partner of the NHL, along with Yahoo, a leading media brand, will connect fans to the action on the ice in new and innovative ways."
As part of this partnership, MGM Resorts and Yahoo Sports will collaborate on an array of content experiences, exclusive live events, and more than 20 high profile major sporting and promotional marketing efforts.

MGM Resorts will also distribute Yahoo Sports content across its properties and platforms. Yahoo Sports will also be hosting multiple player events at MGM Resorts properties.

"This is an exciting partnership for the BetMGM brand and Roar Digital, helping us reach the widest possible audience of engaged sports fans in the U.S.," added Roar Digital CEO, Adam Greenblatt. "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. Together we offer fans a winning combination."