The end of July saw MGM Resorts becomes the official gaming partner of the NBA and the WNBA in a three-year deal worth around $25m: ensuring the NBA becomes the first major US sports league to sign an official betting sponsor.
Announced at a press event in New York City
Exciting things are ahead from MGM Resorts, @NBA and @WNBA Learn more about today's historic announcement here: https://t.co/N91I2LmvW9 pic.twitter.com/w0SGRWLWkt
— MGM Resorts (@MGMResortsIntl) August 1, 2018
LIVE: NBA Commissioner Adam Silver Press Conference from New York https://t.co/Dg1bSaC2fT
— NBA (@NBA) July 31, 2018
This first-of-making partnership in the USA and both partners were keen and careful to stress the integrity of the tie-up at the media jamboree.
(Perhaps all too aware of the 2007 betting scandal involving an NBA referee.)
As well as PR push, the tie-up was promoted heavily by both partners across their digital and social platforms.
MGM Resorts becomes official gaming partner of the @NBA and @WNBA in historic alliance. https://t.co/QCpTBuy5oU pic.twitter.com/M41Q3MFPte
— MGM Resorts (@MGMResortsIntl) July 31, 2018
The tie-up also sees both MGM and the NBA promoting each other within their respective digital and mobile platforms.
The deal sees MGM Resorts International receive a rights package that includes access to use official NBA/WNBA highlights and data, as well as its logo and branding assets across its brick-and-mortar and digital sports book operations to help it grow its sport book across the country.
But interestingly, the deal is non-exclusive: thus enabling the NBA to pen further partnerships with other sports book operators and also meaning that MGM can strike deals with other leagues such as NFL, MLS and MLB.
Like last year’s new jersey patch partnerships, the players will also benefit from the new revenue stream as the rights fee falls into the ‘basketball related income’ category and thus will be shared between the players and teams (with each party receiving around 49-51%).
“I know the value of data. To be able to have the official NBA data for sports bettors around the world is very valuable. I was willing to, and I’ve paid for that,” said MGM CEO James Murren.
“It’s a leap of faith on both sides. It’s a deal moderate in length where I think we can both step back and assess as we go and see, ‘Is it working? Is this deal fair? Are we providing the consumers with the right type of experience?'” added NBA Commissioner Adam Silver.
Comment:
When it comes to being first in the US sports leagues it is usually the NBA that takes the honours and this new sponsorship category is not different.
It was back in May that a Supreme Court ruling paved the way for individual US states to legalise sports betting – so the NBNA has been quick off the mark here.
This could be a ground breaking deal for US sports and may open the floodgates.
Some of America’s most esteemed media institutions certainly think so.
The NBA announced that MGM Resorts International will be the league’s official gaming partner, the first partnership of its kind with a major sports league in the U.S. https://t.co/YR1HKgO9X7
— The New York Times (@nytimes) July 31, 2018
MGM is now the official gaming partner of the NBA. https://t.co/OjBzQAlsWx pic.twitter.com/joVJnZV5vT
— CNBC (@CNBC) July 31, 2018
Of course, for most fans, the big NBA story of the day was the launch of the new LA Lakers jersey – fronted by a campaign revolving around, yes, you guessed, one LeBron James.
When the lights go down.
The show comes on.@nikebasketball | #LakeShow pic.twitter.com/JaYsjPFwm5— Los Angeles Lakers (@Lakers) July 31, 2018
James also opened his first I Promise school on the same day too.
LeBron James addresses the crowd at the @IPROMISESchool opening celebration! https://t.co/KjRh9n5YUL
— NBA (@NBA) July 31, 2018
Links:
NBA
MGM Resorts
https://www.youtube.com/user/mlifetv
https://twitter.com/MGMResortsIntl
https://www.facebook.com/mgmresorts/
https://www.instagram.com/mgmresortsintl/
https://www.pinterest.co.uk/mgmresortsi1945/
