Madison Square Garden Announces Betting Partnership With BetMGM
John Smith/VIEWpress. Pictured: Madison Square Garden.
Madison Square Garden, the owners of the Knicks and Rangers, wasted little time announcing a partnership after the New York State Gaming Commission awarded licenses to nine mobile operators.
MSG announced Tuesday morning that it had signed a deal with BetMGM to be a official betting partner of the teams and the arena and on MSG Network broadcasts.
“We’re thrilled to see the BetMGM brand connected to a space as iconic as Madison Square Garden,” said BetMGM chief revenue officer Matt Prevost in a statement. “New York is a critical state for BetMGM’s continued growth and I can’t think of a better way to begin our relationship with The Empire State than partnering with The World’s Most Famous Arena and their legendary team franchises.”
The deal includes signage on the basket stanchion at Knicks games, dashboard and zamboni signage for Rangers games.
The other eight sportsbooks who will operate in New York include DraftKings, FanDuel, PointsBet, Caesars, Wynn, Kambi, BetRivers/SugarHouse and Resorts World.
New York won’t be a lucrative market for most operators because of the 51% tax rate on profits imposed by the state. But because of the massive population, cultural significance to the sports landscape and rule that the tax rate will decrease to 35% with 13 total operators, books want to be there from the jump.
New York state Senator Joe Addabbo said on Monday he hopes the state takes its first online bet by the Super Bowl.
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