Gannett and BetMGM Announce Multi-Year Partnership

Rhea-AI Summary

Gannett Co., Inc. (NYSE: GCI) has announced a multi-year strategic partnership with BetMGM, a leading sports betting and iGaming operator. BetMGM will serve as the preferred online sportsbook and casino partner for USA TODAY Sports, providing sports betting odds and information across the USA TODAY Network in over 200 local U.S. markets across 43 states.

The partnership aims to deliver trusted sports betting information to Gannett's audience of more than 44 million sports fans. It includes integrating BetMGM sports betting odds into stories and content, as well as featuring a BetMGM "Bet Now" option. Gannett anticipates this collaboration will immediately increase the overall monetization of its content platform.

Positive

• Multi-year strategic partnership with BetMGM, a leading sports betting operator
• Potential for increased audience growth and engagement
• Expected immediate increase in content platform monetization
• Access to BetMGM's sports betting odds and information for 44 million sports fans
• Integration of BetMGM betting odds and "Bet Now" feature in USA TODAY Network content

Negative

• None.

Insights

Financial Analyst

This partnership between Gannett and BetMGM is a strategic move with potential benefits for both companies. For Gannett, it could lead to increased monetization of their content platform and drive audience growth. The integration of BetMGM's odds and betting information across Gannett's extensive network of 300+ digital news brands reaching 44 million sports fans provides significant exposure for BetMGM.

However, investors should consider the regulatory risks associated with sports betting, which varies by state. The partnership's success will depend on the expansion of legal sports betting markets and BetMGM's ability to convert Gannett's readers into active bettors. The financial terms of the deal weren't disclosed, making it difficult to quantify the immediate impact on either company's bottom line.

Market Research Analyst

This partnership taps into the growing sports betting market in the U.S., which is projected to reach $39 billion by 2033. By integrating betting odds and information into news content, Gannett and BetMGM are positioning themselves at the intersection of media and gambling, a trend we're seeing across the industry.

The deal could potentially reshape consumer behavior, making sports betting more mainstream and accessible to casual fans. However, it's important to monitor how this integration affects user engagement and whether it translates to increased betting activity. The success of this partnership could set a precedent for future media-gambling collaborations, potentially changing the landscape of sports journalism and betting.

Legal Expert

The partnership raises important legal and ethical considerations. While sports betting is becoming more widely accepted, it's still a regulated industry with significant variations across states. Gannett and BetMGM will need to navigate a complex legal landscape to ensure compliance in all 43 states where they operate.

The inclusion of responsible gaming resources like GameSense is crucial, but regulators may scrutinize the integration of betting information into news content. There's a potential for increased regulatory oversight as the line between journalism and gambling promotion blurs. Both companies must be prepared for possible legal challenges and ensure strict adherence to state-specific regulations to mitigate risks.

BetMGM preferred source for sports betting odds across the USA TODAY Network

NEW YORK, NY--(BUSINESS WIRE)-- Gannett Co., Inc. (NYSE: GCI) today announced a multi-year strategic partnership with BetMGM, a leading sports betting and iGaming operator. As part of the agreement, BetMGM will serve as the preferred online sportsbook and casino partner for USA TODAY Sports providing sports betting odds and betting information across the expansive USA TODAY Network in more than 200 local U.S. markets across 43 states with more than 300 digital news and media brands in the portfolio.

“We are thrilled to announce a re-imagined partnership with BetMGM, a trusted operator in the sports betting landscape. As a best-in-class partner, our goal is to deliver their trusted sports betting information to our audience of more than 44 million sports fans – especially now that football season has kicked off,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “We believe BetMGM complements our existing portfolio of partners and will enable us to drive further audience growth and engagement. We anticipate this collaboration will immediately lead to an increase in the overall monetization of our content platform.”

The agreement incorporates BetMGM sports betting odds into stories and content sharing betting odds, moneylines, spreads and over/unders for games as well as a BetMGM “Bet Now” feature. BetMGM Sportsbook and BetMGM Casino will be listed as a partner on website footers across all USA TODAY Network publications.

“BetMGM is proud to partner with Gannett and the USA TODAY Network. Their unrivaled reach at a local and national level enables us to connect with a massive audience,” said BetMGM CEO Adam Greenblatt. “By integrating odds and insights seamlessly into Gannett’s content, we're empowering fans to stay informed and engaged with their favorite teams and games. We look forward to a successful partnership that fuels the excitement of sports betting throughout football season and beyond.”

Gambling.com Group will serve the USA TODAY Network audience and sports enthusiasts BetMGM sports betting offers and expert insights leveraging their proprietary advertising technology in states where online gambling is regulated.

As BetMGM continues to expand into new markets and introduce new features, responsible gaming remains a key focus. Additionally, BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM's mobile and desktop platforms, customers can receive the same GameSense experience they have grown to rely on at MGM Resorts properties nationwide. This complements BetMGM's already existing responsible gambling tools which serve to provide customers with an entertaining and safe digital experience.

DISCLAIMER

Gambling problem? Call 1-800-GAMBLER (Available in the US), Call 877-8-HOPENY or text HOPENY (467369) (NY), Call 1-800-327-5050 (MA). 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR).

ABOUT GANNETT

Gannett Co., Inc. (NYSE: GCI) is a diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. We seek to inspire, inform, and connect audiences as a sustainable, growth focused media and digital marketing solutions company. We endeavor to deliver essential content, marketing solutions, and experiences for curated audiences, advertisers, consumers, and stakeholders by leveraging our diverse teams and suite of products to enrich the local communities and businesses we serve.

Our current portfolio of trusted media brands includes the USA TODAY NETWORK, comprised of the national publication, USA TODAY, and local media organizations in the United States, and Newsquest, a wholly-owned subsidiary operating in the United Kingdom. Our digital marketing solutions brand, LocaliQ, uses innovation and software to enable small and medium-sized businesses to grow, and USA TODAY NETWORK Ventures, our events division, creates impactful consumer engagements, promotions, and races.

ABOUT BetMGM

BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain’s U.S.-licensed, state-of-the-art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino, Party Poker, and Wheel of Fortune. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that relate to our current expectations and views of future events. All statements other than statements of historical facts contained in this press release, including statements relating to whether the transaction will drive BetMGM or Gannett’s revenue and cash flow growth, or be accretive to BetMGM or Gannett’s revenue, are all forward looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” “could,” “will,” “would,” “ongoing,” “future” or the negative of these terms or other similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, contingencies, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance, or achievements to be materially and/or significantly different from any future results, performance or achievements expressed or implied by the forward-looking statement. For a discussion of some of the risks and important factors that could cause actual results to differ materially from our expectations, see the risks and other factors detailed in “Item 3. Key Information - Risk Factors” in MGM Resorts International’s Annual Report filed on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the “SEC”) on March 22, 2024 and Gannett’s 2023 Annual Report on Form 10-K and Gannett’s quarterly reports on Form 10-Q and each of MGM Resorts International’s and Gannett’s other filings with the SEC, in each case as such factors may be updated from time to time. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. MGM Resorts International, BetMGM and Gannett disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240916827292/en/

MEDIA CONTACTS

Gannett Investor Relations

Matt Esposito

Head of Investor Relations

investors@gannett.com

Gannett Corporate Communications

Lark-Marie Antón

Chief Communications Officer

lark@gannett.com

BetMGM Public Relations

Jennifer Arapoff

Director of Public Relations

Jennifer.Arapoff@betmgm.com

Source: Gannett Co., Inc.

FAQ

What is the new partnership between Gannett (GCI) and BetMGM?

Gannett (NYSE: GCI) has announced a multi-year strategic partnership with BetMGM, making BetMGM the preferred online sportsbook and casino partner for USA TODAY Sports, providing sports betting odds and information across the USA TODAY Network.

How will the Gannett (GCI) and BetMGM partnership affect content?

The partnership will integrate BetMGM sports betting odds into stories and content across the USA TODAY Network, including betting odds, moneylines, spreads, and over/unders for games, as well as a BetMGM "Bet Now" feature.

What is the expected impact of the BetMGM partnership on Gannett's (GCI) business?

Gannett anticipates that the collaboration with BetMGM will immediately lead to an increase in the overall monetization of its content platform, as well as drive further audience growth and engagement.

How many sports fans does Gannett (GCI) reach through its network?

Gannett's USA TODAY Network reaches an audience of more than 44 million sports fans across 200 local U.S. markets in 43 states.