Since the ground-breaking ruling of the US Supreme Court, more states have begun legalizing sports gambling to take advantage of the newly-opened opportunities, with the state of Mississippi being one of the most recent ones.
With such a grand expansion of the local gambling sector taking place, professional sports leagues in the US have claimed a chunk of the expected sports betting revenue. Now, the National Basketball Association (NBA) has announced a partnership agreement with MGM Resorts International, becoming the first professional sports league in the country to enter a collaboration with a sportsbook.
Under the terms of the agreement, MGM Resorts International would get the right to use the NBA logos, as well as some highlights in its materials, which come to show that the league fully approves legalized sports betting services. Considering the fact that it is currently the fourth-largest US casino company by market capitalization, the deal-making MGM Resorts the first casino partnering a major American pro sports league could help it consolidate its position in the sector.
As mentioned above, the gambling operator would be able to use the NBA and WNBA names and logos under the deal. Apart from that, the company would also be given the chance to use the league’s proprietary data, but not exclusively. This basically means that the NBA would remain “in the business” of providing other gambling operators with its real-time data feed and other intellectual data, as well. The only exclusive part of the deal for MGM Resorts International appears to be the title of NBA’s first official gaming partner – a privilege, which according to media reports, was estimated to $25 million in a three-year period.
More Deals to Follow, According to Media Reports
As mentioned above, the whole thing became possible after the US Supreme Court decided to lift the federal ban imposed on sports betting by the Professional and Amateur Sports Protection Act of 1992 (PASPA) after ruling in favor of the state of New Jersey in its sports betting case. A number of US states, including New Jersey, Delaware, and Mississippi have officially made sports betting part of their gambling sectors, and several others have introduced bills looking to legalize it later in 2018.
The partnership agreement between the NBA and MGM Resorts International has been a great success for the operator which has already moved fast. Yesterday, Beau Rivage Biloxi owned by MGM became the first sportsbook launched in the state of Mississippi. Online betting options are expected to be launched at the Borgata Casino in Atlantic City later in August, making it the first casino operator to roll out online betting options outside the state of Nevada.
The newly-signed partnership is a historic one but it would hardly remain the only one. Considering the fact that MGM is not given any exclusive rights over the logos, names and any other data of NBA, the league would probably sign similar agreements with other gambling operators.