Earlier this week, Yahoo and MGM Resorts announced the signing of an exclusive partnership. The two will be working together to offer sports betting via Yahoo Sports. Collaborative content experiences are expected as well as live events. The deal is one of several involving major companies and the sports betting market in the US.
What’s to Come
In the beginning, the deal will see Yahoo integrate content provided by BetMGM, the online gambling brand of MGM Resorts. The integration will take place via the Yahoo Sports app and website via an affiliate deal.
Players located in states where online sports betting is legalized and where BetMGM is licensed to operate, will be able to find odds as well as scores and statistics for wagering. Players can then easily place wagers via the website or app of BetMGM.
On top of this option, Yahoo and MGM possibly have more plans up their sleeves. It is believed that the fantasy sports app of Yahoo will be part of the deal in the future. The Yahoo Fantasy Football and More app offer free and real-money contents of which BetMGM may be connected to as the partnership blossoms.
The partnership between Yahoo and MGM Resorts is currently focused on sports. However, we may see the two move forward to offer other options as well, perhaps in the casino or slot realm. BetMGM is a full-service online casino brand.
Plus, Yahoo has a selection of apps, but their only move into the real money gambling sector has been with their fantasy sports product. Yahoo may be willing to expand into new markets and could easily use the MGM connection to do so.
One aspect to consider is the new social gaming product create by Yahoo this year called Yahoo Play. The product is a cross between trivia and television. MGM could be brought in by the company to create some type of betting element with this app, but that is merely speculation.
The deal with Yahoo comes at a time when MGM is really busy in the gaming world. They have cut a huge deal with a New York financial services firm to sell the Bellagio Resort in Las Vegas for a whopping $4.25 billion. They also will be selling the Circus Circus casino to Phil Ruffin, the owner of Treasure Island, in a deal that is in the works.
Just this week, it was also announced that MGM Resorts is looking to offload the MGM Grand. This would be the third major casino property to be sold by the brand in just a few weeks. Of course, the brand is looking for a buyer, so it will most likely be some time before the sale actually takes place.
The property sales are being completed so that MGM has a stronger chance of opening an integrated resort in Japan.
The company is certainly busy as of late and it will be interesting to see where this Yahoo deal goes as well as how they move forward with getting rid of properties and focusing on the international market.