BETMGM NAMED AN OFFICIAL SPORTS BETTING PARTNER OF THE CINCINNATI REDS

Rhea-AI Summary

BetMGM announces its partnership with the Cincinnati Reds as the Official Sports Betting Partner, strengthening its presence in Ohio ahead of the January 1, 2023 launch of legalized sports betting. A retail sportsbook will open at Great American Ball Park, enhancing fan experiences with year-round betting options. The multi-year agreement includes prominent BetMGM signage and VIP experiences for fans. This partnership follows BetMGM’s ongoing relationship with Major League Baseball, aimed at expanding its market reach and emphasizing responsible gaming education.

Positive

• Establishment of a retail sportsbook at Great American Ball Park, enhancing fan experience.
• Strengthened brand presence in Ohio ahead of legalized sports betting launch.
• Multi-year agreement furthers collaboration with Major League Baseball.
• Plans for VIP experiences, improving customer engagement.

Negative

• None.

New Sportsbook Opening Year-Round at Great American Ball Park in January 2023

CINCINNATI, Oct. 11, 2022 /PRNewswire/ -- BetMGM, a leading sports betting and iGaming operator, today announced the company now is an Official Sports Betting Partner of the Cincinnati Reds. The new relationship strengthens BetMGM's presence in Ohio ahead of the state's scheduled launch of legalized sports betting on January 1, 2023.

"Today's announcement marks the beginning of our plans to create the most entertaining and dynamic sports betting experiences in Ohio," said BetMGM CEO Adam Greenblatt. "Through our relationships with the Reds and MGM Northfield Park, we look forward to bringing unique BetMGM content to Ohio's passionate sports fans."

The multi-year agreement includes plans to open a retail BetMGM Sportsbook at Great American Ball Park. The BetMGM Sportsbook will be in the space currently serving as the Machine Room restaurant on the northeast side of Great American Ball Park. It will only be accessible from outside the ticketed areas of the ballpark via the arena plaza level entrance. The new venue will allow fans to watch and wager on games all year long.

This marks BetMGM's second sportsbook at a Major League Baseball stadium, joining the BetMGM Sportsbook at Nationals Park in Washington D.C. which opened in January 2022.  

BetMGM signage will be prominently featured at Great American Ball Park, including a permanent outfield wall sign, messaging behind home plate, and a branded foul line during select games. BetMGM, which will have its own suite and club seats at the stadium, also plans to curate VIP experiences for its fans including on-field access during batting practice.

Doug Healy, Cincinnati Reds Chief Financial Officer, said, "With sports gaming coming to Ohio, the Reds sought to bring the highest quality operator to our ballpark for those fans who choose to participate in sports gaming. BetMGM is renowned for their expertise in entertainment and sports gaming, and we believe their brand best fits our high customer standards and will also help draw visitors to our city."

Reds fans will have access to the BetMGM Sportsbook app offering a user-friendly mobile gaming experience, providing the opportunity to customize pre-game, live in-play, futures and parlay wagers.

Today's news comes on the heels of BetMGM extending its relationship with Major League Baseball as an Official Sports Betting partner. Since becoming MLB's first-ever Official Gaming Partner and Entertainment Partner in 2018, MGM Resorts and BetMGM have continued to grow their commitment to baseball.

As BetMGM continues to expand into new markets, responsible gaming education remains a key focus. 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 GameSense integration within BetMGM's mobile and desktop platforms, customers can directly access responsible gaming tools.

For more information on BetMGM, follow @BetMGM on Twitter.

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 US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com/.

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the SEC. Forward-looking statements are based on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the benefits of the partnership. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

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SOURCE BetMGM

FAQ

What is the significance of BetMGM's partnership with the Cincinnati Reds?

BetMGM's partnership with the Cincinnati Reds signifies its strengthened position in Ohio as legalized sports betting launches on January 1, 2023.

Where will the BetMGM Sportsbook be located?

The BetMGM Sportsbook will be located at Great American Ball Park, specifically in the area currently serving as the Machine Room restaurant.

When is the BetMGM Sportsbook opening?

The BetMGM Sportsbook is scheduled to open in January 2023, coinciding with the launch of legalized sports betting in Ohio.

How does BetMGM plan to engage fans at Great American Ball Park?

BetMGM plans to engage fans by offering unique betting experiences, VIP access during batting practice, and prominent signage throughout the ballpark.

What is BetMGM's approach to responsible gaming?

BetMGM prioritizes responsible gaming education by providing resources, including the GameSense program, to help customers play responsibly.