So much for hurting the integrity of the game – the NHL now owns an equity stake in multiple sportsbooks after an agreement with PointsBet.
PointsBet isn’t the first sportsbook to become an official sports betting partner of the NHL – FanDuel Sportsbook, MGM Resorts and William Hill also inked those partnerships.
PointsBet is, however, the first sportsbook partner the NHL is taking an equity stake in, according to a company release on the Australian Stock Exchange. Leagues have had stakes in companies that now offer sports betting, but those were stakes taken before PASPA fell in May 2018.
NHL Enterprises – the league’s marketing arm – and multiple professional teams owned shares in DraftKings as recently as last June. Owning an albeit small equity stake in two sportsbooks is a major difference from Commissioner Gary Bettman‘s stance before sports betting could earn the league a buck.
Bettman originally asked for casinos near the Vegas Golden Knights‘ home to take NHL games off the board, but he’s proven that stance was easily swayed once the rules of engagement changed.
More details on NHL stake in PointsBet
The NHL will get 43,106 ordinary shares issued to it as part of the deal. Those are worth $500,000 based on the 20-day average as of Feb. 4.
Those shares will be released in three installments after the first, second and third anniversaries of the agreement.
That leaves the NHL with a very small stake in both companies. A recent ASX filing shows 183.4 million ordinary shares plus more than 100 million other shares or options unlisted.
The NHL also owned 491,683 shares in DraftKings as of June and offered just 51,093 in the offering. DraftKings had more than 390 million shares outstanding as of Nov. 11.
Book enhances NBC deal with NHL partnership
The partnership announced Tuesday is only between the NHL and PointsBet, but it’s clear this deal also had a lot to do with the sportsbook’s NBC partnership as well.
PointsBet signed a multi-year agreement with NBCUniversal, which includes $393 million in committed marketing spending and more than 66 million PBH options for NBC.
NBC and the NHL are closely linked as the two signed a 10-year, $2 billion agreement that expires after this season. While there will be other bidders and a higher price tag, their recent deals with the same sportsbooks could point to continuing the status quo.
Integrations with all three have already begun with PointsBet odds and data worked into pregame, in-game, and postgame content.