What happened
MGM Resorts International (MGM 0.99%), a legacy casino company that is pushing assertively into online/mobile betting, experienced a share price pop on Tuesday. Investors signaled their approval of the signing of a new "brand ambassador" by trading the shares nearly 1.5% higher on the day.
So what
A new face of MGM Resorts is Tim Howard, a star goalkeeper on the U.S. men's national soccer team during his playing years. Now retired, Howard was perhaps best known not only for playing in that sport's prestigious World Cup, but setting the record for most saves. He did so in the U.S.-Belgium match in the 2014 tournament.
As a brand ambassador, Howard will personify the company's BetMGM online soccer wagering. Among the numerous ways players can engage is with Tim Howard's Shootout Challenge, a daily free-to-play video game in which they can attempt to fire shots past an avatar of the goalkeeper.
MGM Resorts said that additionally, Howard will engage with BetMGM customers in public and private events, some of which will be virtual and others in-person. He will also make appearances on TV and radio shows.
The company did not provide any financial details of its arrangement with the soccer star, nor did it say how long its deal with him will be in force.
Now what
Howard was a player in a country where soccer is basically a second-tier sport. Unlike in Europe or Latin America, the sport does not enjoy the levels of success demonstrated by pro leaguessuch as the National Football League, Major League Baseball, or the National Basketball Association. Regardless, soccer does have many adherents, and for them Howard will be a familiar face. So this is ultimately a good "get" for MGM resorts.
