BetMGM Announces North Carolina Market Access Agreement with Charlotte Motor Speedway

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Jan 05, 2024, 11:15 ET

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JERSEY CITY, N.J., Jan. 5, 2024 /PRNewswire/ -- BetMGM, a sports betting and iGaming leader, and Charlotte Motor Speedway, the iconic motorsports and entertainment venue, announced today a new market access agreement enabling BetMGM to bring its online sports betting platform to North Carolina once legalized sports betting launches.

"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," said BetMGM CEO Adam Greenblatt. "BetMGM's partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians. Together we will deliver a premier and responsible gaming product that benefits many state agencies."

In addition to supporting many of North Carolina's publicly funded colleges, tax revenues from sports betting will also support a major event fund, allowing the state to recruit national sports and entertainment events to drive additional tourism, job creation and economic impact.

"BetMGM has established itself as a signature source for sports betting with partnerships in every major league sport and with venues across the country," said Charlotte Motor Speedway Executive Vice President and General Manager Greg Walter. "With Charlotte Motor Speedway's history of innovation, we wanted to move forward into this new era of sports entertainment with a progressive sportsbook. This partnership with BetMGM will bring sports fans new ways to enjoy their favorite events while expanding North Carolina's tax base, supporting colleges and facilitating recruitment of major events for the future."

Subject to regulatory approval, BetMGM expects to offer online sports betting as soon as North Carolina's regulated market commences, expected to be in the first quarter of 2024.

As BetMGM continues to expand to new markets, responsible gambling education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM's mobile and desktop platforms, customers can receive the same GameSense experience they have grown to count on at MGM Resorts properties nationwide. This complements BetMGM's already existing responsible gambling tools which serve to provide customers with an entertaining and safe digital experience.

For more information, follow @BetMGM on X (formerly Twitter).

About BetMGM

BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International, BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed, state-of-the-art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit https://sports.betmgm.com/en/blog/

About Charlotte Motor Speedway

For nearly 65 years, Charlotte Motor Speedway has set the standard in motorsports entertainment for fans of all ages. Known as America's Home for Racing, Charlotte Motor Speedway is the only race vacation destination where fans can immerse themselves in the heart of NASCAR country. Visitors can attend one-of-a-kind race spectacles including the Coca-Cola 600 and Bank of America ROVAL™ 400; take behind-the-scenes speedway and race shop tours; explore the NASCAR Hall of Fame and drive an 800-horsepower stock car. Through every event and every decade, Charlotte Motor Speedway puts FANS FIRST with a never-ending commitment to enhance the fan experience. For all the latest news and information, visit www.charlottemotorspeedway.com, follow on Twitter, Facebook and Instagram, or download the Charlotte Motor Speedway mobile app.

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the SEC. Forward-looking statements are based on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the benefits of the partnership. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

SOURCE Charlotte Motor Speedway