Both exciting and groundbreaking
That is how NHL Commissioner Gary Bettman (hold your boo’s) described the announcement today. Bettman, along with MGM Chairman and CEO Jim Murren held a press conference today to unveil the new multi-year partnership. Murren, who called the deal “historic” has been heavily involved in the Vegas Golden Knights introduction to the league. The NHL has been working with MGM since the arrival of hockey in Vegas, and is being called a strategic step into furthering the relationship between the two organizations. A natural extension into the sports betting world, this deal is sure to make gambling and hockey a more cohesive pairing.
What’s Yours is Mine
This deal gives MGM Resorts and Casinos access to intellectual property such as the NHL shield, and all 31 team logos. It also gives the gaming powerhouse access to real-time advanced data that is still in development. Beyond the betting aspect, the two monster brands will become major sponsors of one another. MGM now becomes the premier resort destination for the NHL and its partners. Being part owners of T-Mobile arena in Vegas, Murren and Bettman agreed MGM was a “natural first partner for the league in the sports betting space.” On top of all that, revenue created by this deal is considered hockey revenue. That means it is split 50/50 among players and owners. This partnership however is not exclusive. Which in turn provides the opportunity to enter into more ventures like this one.
Betting on success
The future seems bright for the NHL and sports betting alike. A step like this is a sign they’re embracing the evolution of how we watch sports. Hockey is an inherently difficult game to bet on as many of you already know. This announcement makes you think the NHL is working towards making it a more marketable sport to gamble on, as well as attract new fans who enjoy sports through putting a few bucks on the game. While it’s easy to assume Bettman has something up his sleeve, this seems like a wholly positive deal for hockey and the NHL. The national component, as well as local, seems all too similar to TV deals surrounding the NHL. Much remains to be seen with this provocative, albeit truly groundbreaking deal. But as hockey fans we love anything that draws attention to the game.
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