NHL MVP Connor McDavid Signs BetMGM Deal in U.S. Sportsbook First – Sportico

By Eben Novy-Williams
Sports Business Reporter
Connor McDavid, the NHL’s points leader and reigning MVP, has signed an endorsement deal with BetMGM that the company says is the first between a U.S. sportsbook and an active athlete in the four major North American leagues.
The Edmonton Oilers star will be featured in BetMGM marketing campaigns, promos and social media content, and appear at live events. BetMGM works with a few retired stars (like Barry Sanders) and pros in individual sports (like golfer Jason Kokrak), but McDavid is the brand’s first active player from the NHL, NBA, NFL or MLB.
The company declined to comment on the terms of the deal.
A joint venture between MGM Resorts (NYSE: MGM) and European betting giant Entain (LSE: ENT), BetMGM is the country’s largest iGaming platform, and is gradually gaining market share in sports betting. It finished 2021 with about 15% of the U.S. online sports betting market, making it the third largest operator behind FanDuel (36%) and DraftKings (24%), according to data from Eilers & Krejcik Gaming. BetMGM executives have said the brand is targeting 20-25% long-term market share in U.S. iGaming and sports betting.

It’s been a difficult last six months for publicly traded sports betting companies, but MGM has fared better than most, likely because of its other businesses. MGM stock is down roughly 6% in that span. Entain, which trades in London, is down about 25%.
McDavid’s deal is just the latest example of the growing overlap between sportsbooks and U.S. sports leagues, which spent decades fighting increased legalization. BetMGM won’t change any of its offerings following the deal—a full suite of Oilers and McDavid props will still be available—much in the same way that PointsBet treats games called by NBC Sports announcer Drew Brees, also a company pitchman, like any other NFL game.
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