BetMGM expands NASCAR sports wagering partnership with RCR
BetMGM LLC has expanded its sports wagering presence in North Carolina by signing its second NASCAR-related partnership, this time with Richard Childress Racing.
BetMGM said Jan., 5 it reached an agreement with Charlotte Motor Speedway for its first agreement with a potential sports betting venue in the state.
Gov. Roy Cooper signed into law on June 14, 2023, the bipartisan and divisive House Bill 347, titled “Sports Wagering/Horse Racing Wagering.” Legislative analysis of HB347 projected about $40 million initially in annual tax revenue and exceeding $100 million by 2029.
“We have been eagerly awaiting legal, safe, regulated online sports betting in North Carolina — a state with more than 10 million people and one of the most vibrant sports environments in the country,” BetMGM chief executive Adam Greenblatt said in a statement.
BetMGM will partner with RCR for several marketing and activation initiatives, including NASCAR Cup Series primary sponsorship for select races on the No. 3 Chevrolet driven by Austin Dillon and the No. 8 Chevrolet driven by Kyle Busch. Those partnership will include the Daytona 500.
BetMGM is an authorized NASCAR gaming partner.
“Richard Childress Racing is an iconic name in motorsports, and it aligns with BetMGM’s goal to partner with best-in-class organizations,” BetMGM’s chief revenue officer Matt Prevost said.
On your mark
The N.C. State Lottery Commission said legal mobile and online sports wagering will debut at noon March 11.
That’s 10 days before March Madness begins in earnest with Charlotte’s Spectrum Center hosting first- and second-round NCAA men’s tournament games. The ACC men’s tournament will be held in Washington, D.C., on March 12-16.
The first sports wagers will be made on mobile devices only. In-person sports wagering will follow on a case-by-case basis as sports wagering operators meet commission and state law requirements.
The commission will allow individuals ages 21 and up to begin placing money into an account with a sports wagering operator on March 1. However, those funds won’t be available for betting until March 11.
“Once mobile betting is fully available, 95% of sports wagering is likely to be made that way, particularly during the college football and NFL playoffs and the NCAA men’s basketball tournament,” said Max Bichsel, vice president of sports for Gambling.com.
Tax revenues from sports betting will support a major event fund, allowing the state to recruit national sports and entertainment events to drive additional tourism, job creation and economic impact.
The Greensboro Coliseum, while not currently eligible for an onsite sports book, is among eligible venues to benefit from the tax revenue.
Other partnerships
Besides BetMGM, the commission has received licensing applications from eight other sports betting operators: Betfair Interactive US LLC; Catawba Two Kings Casino; Crown NC Gaming LLC; FBG Enterprises N.C. LLC (operating as Fanatics Betting and Gaming); Hillside (N.C.) LLC; Penn Sports Interactive LLC; Tribal Casino Gaming Enterprise Cherokee; and Underdog Sports Wagering LLC.
Operators whose internal control plan is approved will receive a certificate of compliance from the commission.
“There can be only one operator per eligible venue for purposes of operating a place of public accommodation, assuming those parties choose to pursue that business opportunity,” said Adam Owens, communications manager for the N.C. Education Lottery.
Caesars Entertainment Inc., expected to operate as Tribal Casino Gaming Enterprise Cherokee, said Tuesday it will provide online sports wagering through Harrah’s Cherokee Casino Resort in Cherokee and Harrah’s Cherokee Valley River Casino & Hotel in Murphy.
The group already operates onsite Caesars Sportsbook locations at the casinos involving the Eastern Band of Cherokee Indians.
McConnell Golf, owner and operator of Greensboro’s Sedgefield Country Club, said Jan. 23 it had signed a partnership with Underdog Sports.
Underdog said it will not have an onsite presence at Sedgefield, but offer online wagering only.
The Wyndham Championship golf tournament is owned and operated by the Piedmont Triad Charitable Foundation, with its home course at Sedgefield.
Fanatics Betting and Gaming said Jan. 11 it will enter a long-term partnership agreement with the NHL’s Carolina Hurricanes to become the team’s official sports betting partner on Fanatics Sportsbook.
Fanatics also will offer a retail sportsbook at PNC Arena. The partnership also includes marketing assets, such as in-arena signage, broadcast integrations and PNC Arena activations for hockey fans.
In early December, Penn Sports Interactive entered into a long-term partnership with Quail Hollow Club and the Wells Fargo Championship for its online sports wagering platform “ESPN BET” in N.C.
ESPN BET, which launched on Nov. 14 in 17 states, combines ESPN’s brand and multiplatform reach with Penn’s proprietary in-house technology and sportsbook operational expertise.
