NBA commissioner Adam Silver announced Monday the league has found an official sports betting partner in MGM Resorts International.
In this deal, MGM will have the rights to use NBA highlights, names, logos and it's direct data feed. According to ESPN, the deal is worth at least $25 million over three years.
"Let's take advantage of this opportunity and do something historic."- NBA TV (@NBATV) July 31, 2018
Adam Silver announces the NBA's partnership with MGM Resorts International pic.twitter.com/jwcydJe5jI
"Let's take advantage of this opportunity and do something historic," Silver said, referencing the conversation he had with MGM's CEO James Murren before the deal was eventually struck. "And that is to enter into the first commercial partnership between a gaming establishment and the NBA."
It still isn't known if the NBA will receive an "integrity fee," which is a percentage for all bets made on NBA games.
The United States Supreme Court struck down a 25-year-old law back on May 14 that basically prevented states except Nevada from having legalized sports gambling. New Jersey was one of the first states to immediately jump on the ruling, and set up sportbooks around the state. Monmouth has been open for over a month, while Meadowlands Racetrack just opened their own book last week.
The NBA has been at the forefront of trying to make their own profit from the legalization of sports betting, and Silver has embraced the integration of sports betting and pro sports.
As for the rest of the sport world, MLB commissioner Rob Manfred and NFL commissioner Roger Goodell have both reiterated the fact that if sports betting is here to stay, they hope the integrity of the game is of the highest priority.