MGM and GVC Holdings’ US sports betting brand BetMGM has agreed a multi-year deal to serve as an authorized gaming operator of NASCAR.
Beginning next year, BetMGM will gain rights to NASCAR marks and will offer live, in-play betting through the BetMGM mobile app, social media channels, and in BetMGM retail sportsbooks through a partnership with Betgenius.
NASCAR and BetMGM are also working together to develop a free-to-play NASCAR game.
“Partnering with a best-in-class operator like BetMGM positions NASCAR to build on the positive energy and momentum we’re seeing around gaming and in particular the live in-race experience,” said NASCAR managing director for gaming Scott Warfield. “We’re excited to have such an iconic brand on board to expand our offerings and deepen our engagement with the most passionate fans in sports.”
The partnership will also see BetMGM benefit from cross-promotional opportunities on NASCAR digital platforms NASCAR.com, the NASCAR Mobile app and social media channels.
BetMGM is currently licensed for sports betting in seven states and plans to be operational in 11 states by the end of this year.
“We’re excited to work with the NASCAR team to build immersive sports betting experiences that 21st-century racing fans crave,” said BetMGM chief marketing officer Matt Prevost. “BetMGM’s unparalleled betting technology combined with NASCAR’s iconic races will create a superior betting experience for racing fans all over the United States.”
Shares in MGM Resorts International (NSQ:MGM) closed 0.69 per cent lower at $21.50 per share in New York Tuesday, while shares in GVC Holdings plc (LSE:GVC) were trading down 1.10 per cent at 776.40 pence per share in London Wednesday morning.