BetMGM is targeting local media markets with its latest partnership.
The company announced a multi-year partnership with Audacy (formerly Entercom Communications) on Tuesday. Audacy has 39 all-sports stations across the US.
With the sports betting industry legalizing on a state-by-state basis, BetMGM hopes the hyperlocal approach can win over customers, BetMGM Chief Revenue Officer Matt Prevost told LSR.
“We value the relationship local radio hosts have with their audiences,” Prevost said. “The industry and brand that is still state-by-state, so local radio is a great way to connect with local audiences.”
Developing local trust the main objective for BetMGM
Prevost said the brand already has working relationships with some of Audacy’s stations, like 97.1 The Ticket in Detroit. BetMGM was second in March handle in Michigan, securing 25% market share.
“That proved that local connections really mattered,” he said. “What this deal allows us to do is, as every market opens up, it allows us to select the talent that best represents us.”
Along with regular mentions through the airwaves, BetMGM will offer “dynamic content” and regular new promo offerings to new and existing users listening.
The two companies will also partner on custom BetMGM content and digital assets.
BetMGM sharing airtime with a competitor?
In October 2020, then-Entercom announced a six-year deal with FanDuel.
That relationship isn’t of worry to Prevost. Both are “preferred sports betting partners.”
“It’s an enormous company with enormous reach,” he said. “We have a similar relationship that they have, but there’s plenty of media and plenty of talent to cover the both of us.”
Audacy leans into sports betting
Audacy acquired QL Gaming Group for $32 million late last year.
It has since launched BetQL Audio Network, featuring sports betting content.
“The advent of legalized mobile sports betting has presented an unprecedented opportunity to bring the action closer to the audience than ever before and, as a result, provide our partners with a direct line of sight to tap into an attentive, fully engaged audience of potential sports bettors,” Audacy President of Sports Mike Dee said.
BetRivers is the title sponsor of the company‘s “You Better You Bet” podcast. That deal also includes the “BetRivers Sports Betting Minute” segment on stations in legal markets.
Race for media partnerships
The BetMGM-Audacy deal was announced the same day DraftKings acquired Vegas Sports Information Network in a deal potentially worth $100 million.
The two deals are just the latest in a rush by operators to secure direct media lines to existing and potential users.
Audio is a popular choice, building on the foundation of sports talk radio. A partnership between Wynn Resorts and podcast company Blue Wire earlier this year further demonstrates that push. Sports betting content also is central to that partnership.
Prevost likes that the deal can scale as the platform grows its live states, currently sitting at 10.
“It’s a format that lends itself naturally to the category,” Prevost said. “We very much appreciate the fact that we’re not yet a national brand the ability to move our investments around throughout the larger Audacy ecosystem as we evolve the partnership.”
