The NBA has become the first major U.S. sports league to sign an official betting sponsor.
On Tuesday, commissioner Adam Silver announced that the league struck a deal with MGM that will give the gaming company rights to use league highlights, names, logos and its direct data feed, as well as exclusively market itself as the official gaming partner of the NBA and WNBA.
"Let's take advantage of this opportunity and do something historic."
Adam Silver announces the NBA's partnership with MGM Resorts International pic.twitter.com/jwcydJe5jI
— NBA TV (@NBATV) July 31, 2018
Industry sources pegged the deal to be for three years and at least $25 million.
“As the landscape for sports betting in the U.S. continues to evolve at a rapid pace, MGM Resorts is a proven gaming leader for us to work with on this groundbreaking partnership,” Silver said in a statement. “Our collaboration will result in the best possible gaming and entertainment experience for consumers through the use of accurate, real-time NBA and WNBA data, and our collective efforts to maintain and enhance the integrity of our games.”
The pioneering move comes as no surprise since Silver has been the most progressive of all U.S. sports leaders in talking about how the NBA could interact in the gambling space. Silver is a forward thinker, you might as well get it on it while it’s still on the ground floor.