Verizon Inc announced Tuesday morning that it’s digital media company Yahoo Sports has entered into a strategic partnership with MGM Resorts to support the release of its new vertical sports betting.
The agreement see Yahoo Sports becoming MGM Resorts’s ‘digital media partner,’ with Verizon’s sports publisher set to launch sports betting features this November through its Yahoo Sports app.
Yahoo Sports wagering transactions will be operated by the BetMGM network managed by Roar Digital–the MGM Resorts and GVC Holdings US 50/50 joint venture.
Verizon stresses in its announcement that it sees sports wagering as a’ natural extension’ of Yahoo Sports to deliver new sports fans experiences.
Guru Gowrappan, CEO of Verizon Media said: “The historic partnership with Yahoo Sports and BetMGM will change the future of fandom, providing new ways for sports fans to go beyond engaging with content and interact through commerce. At Verizon we believe in building products that connect consumers to their passions and drive the deepest end-to-end value possible.”
Securing the lead sports media estate of Verizon as a sports betting partner will be perceived as a major blow to MGM Resorts as it works to broaden the product and services of Roar Digital through law-making US states.
MGM has increased its sports reporting performance with Yahoo Sports by acquiring a multi-media partner offering a diverse portfolio of high-engagement sports content as the US betting landscape evolves.
“This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector,” said Jim Murren Chairman of MGM Resorts.
“Integrating Yahoo’s leading fantasy sports operations and content with BetMGM’s world-class sports betting and interactive platform uniquely positions us to drive market share and large-scale adoption among sports fans.”
The new venture will be the first Roar Digital affiliate to profit from the newly acquired official data and marketing agreements with NBA and NHL for Yahoo Sports to launch new digital wagering capabilities in November.
“As sports betting continues to transform the industry, this partnership brings together the power of two trusted partners of the NBA,” said NBA Commissioner Adam Silver.
“By working together, MGM Resorts and Yahoo Sports will offer fans unprecedented ways to engage with our games.”