MGM Resorts’s sports betting app, BetMGM, has been named the official online sportsbook of the prestigious PGA Tour. BetMGM entered a multi-year marketing and content relationship with the PGA, opening up a lot of options to share with Bet MGM users.
The deal includes the rights to use PGA Tour logos and advertise within its partner and media platforms. The deal also gives BetMGM content and video rights, allowing the sportsbook to create pregame and postgame programming. Finally, BetMGM also is allowed to distribute tour highlights to its users.
The PGA Tour Embraces Sports Betting
Senior vice president of media and gaming for PGA Tour, Norb Gambuzza, said the deal is intended to help the tour speed up its sports betting plan of action.
“This deal will enable the PGA Tour to reach new fans as well as engage our current fans who enjoy betting on golf,” Gambuzza stated.
Gambuzza went on to say, “BetMGM is part of a premium brand. MGM is deeply connected to golf through sponsorship of various players and PGA tournaments. Through the powerful BetMGM resources, this new relationship helps accelerate our sports betting strategy.”
BetMGM chief marketing officer, Matt Prevost, added, “BetMGM’s forward-looking betting technology, combined with the PGA Tour’s iconic players and world-class competitions, will not only push the Tour to the forefront of professional sports, but the entire betting industry too.”
According to BetMGM, the PGA Tour is among the most popular offerings on its sportsbook.
BetMGM already has sponsorship deals with several pro-golfers, including Pat Perez, Kevin Na, Ryan Moore, Jimmy Walker, and Boo Weekley.
More BetMGM Partnerships
The sports betting platform has entered a number of partnerships over the last year, including deals with the National Lacrosse League, the Denver Broncos, Buffalo Wild Wings, and Yahoo Sports.
Taking advantage of the recent legalization of sports betting in Colorado, the Broncos also signed deals with FanDuel and BetFred USA. However, the Broncos-BetMGM partnership marks the NFL’s first in-stadium sports betting lounge.
“When we think about sports in Colorado, the first team we think of is the Broncos,” observed Matt Prevost, BetMGM chief marketing officer. “Their history and success on and off the field maintain a special place in Colorado.”
As part of the multi-year partnership with Yahoo, the BetMGM sportsbook will launch within the Yahoo Sports app. Bettors are able to make their financial transactions on the BetMGM platform.
Finally, the partnership between Buffalo Wild Wings and BetMGM brings the digital sports betting platform inside the chain of sports bars. In addition, the deal included a Buffalo Wild Wings sports bar inside the Mandalay Bay in Las Vegas.
MGM Continues to Grow
During a July earnings call, MGM CEO Bill Hornbuckle said the resort giant will continue to focus on the growth opportunities presented by sports betting.
For example, MGM International, along with partner GVC holdings, have committed $250 million in capital to boost jointly-owned BetMGM. During the COVID-19 shutdown of retail sportsbooks, the mobile sports betting market exploded. The total investment in BetMGM has reached $450 million.
According to Bill Hornbuckle, BetMGM is expected to generate more than $130 million in net revenue this year.
“The investments show our commitment to positioning BetMGM as a leader in both sports betting and iGaming,” Hornbuckle said. “We think that BetMGM will allow us to frequently engage with our resort guests, driving even more loyalty to the MGM brand.”
The BetMGM mobile app is available on both Android and iOS, and it’s licensed for legal sports betting in New Jersey, Nevada, Colorado, Michigan, Indiana, Mississippi, and West Virginia. In fact, BetMGM is expected to be legal in 11 states by the end of 2020.