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MGM and the Denver Broncos Give NFL Fans an Official Sportsbook at the Stadium

By Howard Smith – Jul 9, 2020 at 4:08PM

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The agreement signals more competition for mobile betting apps like DraftKings.

MGM Resorts International (MGM 2.79%) announced today that its BetMGM mobile betting app has reached a multiyear agreement with the NFL's Denver Broncos to place a BetMGM lounge inside the team's Empower Field at Mile High. The casino operator plans to enhance the on-site sportsbook experience with VIP travel packages and benefits using the casino's loyalty program, M life Rewards. 

The partnership is an indicator of how online sports-betting providers look to differentiate themselves against growing competition. The BetMGM app, launched in March, is a joint venture between MGM and GVC Holdings (GMVH.F 3.11%). Competitors in the field include DraftKings (DKNG 6.09%) and a new betting app to be launched by Barstool in September, according to Barstool CEO Erika Nardini. Her company recently partnered with regional casino operator Penn National Gaming (PENN 3.29%) in a $450 million deal. 

laptop showing "sports betting" with game balls and pucks hovering over

Image source: Getty Images.

MGM's partnership with the Broncos also includes a free-to-play mobile game, promotions and advertising inside the stadium, and digital marketing assets. Matt Prevost, BetMGM's chief marketing officer, said, "This partnership with the Broncos allows us to showcase not only a premier BetMGM sports betting and gaming platform, but also the world-class entertainment experiences delivered by MGM Resorts." 

The in-stadium lounge will be open to fans at least 21 years old, and will include a full-service premium bar, luxury lounge, current betting odds, and service assistance with the BetMGM mobile app. There will be additional in-stadium promotions announced at a future date, the company said. 

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Stocks Mentioned

MGM Resorts International Stock Quote
MGM Resorts International
MGM
$36.86 (2.79%) $1.00
Penn National Gaming Stock Quote
Penn National Gaming
PENN
$35.19 (3.29%) $1.12
Entain Stock Quote
Entain
ENT
$1,402.00 (0.32%) $4.50
GVC Holdings PLC Stock Quote
GVC Holdings PLC
GMVH.F
$17.32 (3.11%) $0.52
DraftKings Inc. Stock Quote
DraftKings Inc.
DKNG
$15.32 (6.09%) $0.88

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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