Earlier on Tuesday, July 31st a historic announcement was made in terms of the casino business. As a deal between a major US sports league and a casino, the NBA and WNBA respectively has been formed.
As per the deal, Both the NBA as well as the WNBA shall share official data with MGM Resorts International.
However, exact Terms and conditions of the deal have not been disclosed so far, only that it is a multiyear arrangement.
The partnership became a possibility following a Supreme Court ruling back in May that provided a clear path for all states to legalize sports betting.
According to the deal, The NBA will receive payments from the Las-Vegas casino giant for sharing its data which would be used in determining outcomes of various bets.
Speaking on the partnership the CEO and Chairman of MGM, James Murren went on to say, ‘‘I am well aware of the value of data.”
Murren further added, ‘‘It is of tremendous value, to provide the official NBA data for sports bettors all over the globe. I was prepared to, and I have paid for that.’’
Adam Silver the commissioner of the NBA said that the league firmly believes that they are being fairly compensated for the data. ‘‘It is more of a leap of faith on both ends.’’
Silver further added, ‘‘This is such kind of a deal which is relatively moderate in length where I believe that both parties can step back and assess as we go further and ask ourselves, Is this deal fair? Is it working? Are we giving the customers the right type of experience?’’
MGM will indeed be an official casino partner for the league, however, it will not have exclusive rights to the data. Which means that The NBA can still, and most probably will, try to work out deals with other casinos that offer sports betting in many states or via mobile applications.
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