BetMGM Sign Multi-Million-Dollar Deal With Denver Broncos
Roar Digital’s sports betting brand BetMGM will benefit from a multi-million-dollar partnership with NFL team the Denver Broncos. Included in the strategic alliance is branding at the home of the Broncos, Empower Field at Mile High.
As part of the deal, BetMGM will also release a Denver Broncos themed free-to-play mobile game, in which Broncos fans can compete with each other with sports predictions. MGM themed prizes will be up for grabs, and these include stays at MGM resorts such as the US$1.4 billion resort in Prince George’s County, Maryland.
The new game will be available via the existing Denver Broncos app which already allows users to get real-time news, watch videos and photos and keep track of fantasy football players. Both parties will hope that the inclusion of this new game will increase the engagement levels of the fans.
The new arrangement will also see the construction of a hospitality lounge for BetMGM customers at Mile High. Access to this facility will be a benefit for Broncos customer’s who purchase VIP tour packages and will also be available as part of the MGM Resorts loyalty scheme. Mac Freeman, the chief commercial officer of the Broncos, welcomed the deal. He said that the new alliance with Roar Digital would enable them to provide unique experiences for the fans, he added:
“When we began the process of identifying potential partners in this category, our goal was to provide Broncos fans with unique ways to engage with sports betting.” Roar Digital’s ability to agree such a high-profile and potentially lucrative deal owes a great deal to financial backers who have heavily invested in the company in recent months. Earlier this month BetMGM received a cash injection from MGM Resorts and GVC Holdings that was worth $250m. Speaking about GVC’s decision to invest, CEO Kenny Alexander said:
Potentially be one of the best deals we have done in terms of value creation, and I remain convinced the US market opportunity is huge. We have an aspiration to be a market leader.– Kenny Alexander, GVC CEO.
Alexander added that it was quite clear the way the market is opening up, with the amount of investment needed, that they needed to increase the level of our investment. He pointed to the investments that rivals such as DraftKings and FanDuel had made to gain ground in the sports betting market and said they needed to match this spending to stay competitive.
The size of the task to become a market leader can be seen in the company’s performance in New Jersey. BetMGM’s management is aiming for 10% of the market share by the end of the year. Research firm Eilers & Krejcik estimates that BetMGM is fifth in the league table of 16 sportsbooks with just 5% of the active customers. While doubling their customer base is possible by the end of the year, they have a long chase to catch up with FanDuel and DraftKings with their combined market share of almost 75%.