Wayne Gretzky Partners With BetMGM: Could It Help Gain Share In US And Canada?

One of the greatest hockey players of all time is partnering with a sports betting company.

What Happened: BetMGM, a joint venture from MGM Resorts International (NYSE: MGM) and Entain, announced the addition of Wayne Gretzky as a brand ambassador.

Gretzky is signing a multi-year deal to be a brand ambassador for BetMGM and helping with marketing efforts for BetMGM’s hockey and North American coverage.

“I’m excited to be a part of the company’s continued expansion into new states and territories and to help tell BetMGM’s story,” Gretzky said.

Gretzky holds NHL records with 894 goals, 1,963 assists and 2,857 points.

Related Link: NBA, Action Network, BetMGM Partner On New Sports Betting Show

Why It’s Important: The deal with Gretzky comes shortly after it was announced that “The Great One” will join Turner Sports in a multi-year deal as a studio analyst for NHL games beginning with the 2021-2022 NHL season. Turner Sports is a unit of AT&T Inc (NYSE: T) that recently landed a deal for NHL games.

The move to sign Gretzky as a brand ambassador could help BetMGM expand in Canada as the country works on legalizing sports betting province by province.

“We’re proud to welcome him to the BetMGM team. As we look toward potential expansion into Canada and elsewhere throughout the United States, Wayne will bring a unique ability to tell our brand story, BetMGM Chief Revenue Officer Matt Prevost said.

Price Action: Shares of MGM Resorts International are down 1% to $43.17 on Wednesday.

Photo credit: Kris Krug, Flickr