Top 5 - Jay-Z Revitalizes Atlantic City with Sports Betting
Plus FIFA looks to expand Women's World Cup, UFC leaves its mark at the Sphere, and more
Whatsup Squad,
Let’s get into the top stories of the week:
⭐️ FEATURE STORY
Jay-Z Launches Fanatics Sportsbook in Atlantic City
In a star-studded bash hosted by co-founder and owner Jay-Z, Fanatics Sportsbook officially opened at Ocean Casino Resort in Atlantic City.
The sportsbook will be located in The Gallery, a 12,000-square-foot gaming and bar area centrally located in the casino, providing a luxurious atmosphere for sports betting and game watching.
Jay-Z is well known for his links with the gambling industry. Earlier this year, he made an official bid to open his own NYC casino, Caesars Palace Times Square.
Bottom Line - Nowhere has sports gambling transformed a region more than New Jersey. As sports enthusiasts seek out destinations to watch games and engage in betting, the Fanatics sportsbook will be a game-changer for Atlantic City.
Read more here
UFC Helps Las Vegas Sphere Achieve Record Revenue
The first live sports event at the Las Vegas Sphere produced the highest gross revenue for both the venue and UFC, as Saturday night’s 10-fight showcase pulled in $22 million in revenue.
The showcase sold out all 16,024 tickets available and the UFC also saw their largest merchandise sale in its history.
For UFC, the gross revenue exceeds the record set by UFC 205, which featured Conor McGregor in the main event at Madison Square Garden. That 2016 event pulled in $17.7 million gross.
Bottom Line - While there could be another live sports event at the Sphere, there will not be another UFC event. MGM and UFC have a multiyear exclusive contract for Las Vegas performances, but MGM made an exception for Saturday’s event.
Read more here
Indiana’s Plan to Become the Global Epicenter of Sports
Founded in 1979, Indiana Sports Corp was the first sports commission in the United States.
Last week, the non-profit unveiled their 2050 Vision Framework, a plan to carry the sports ecosystem into the next 25 years.
The framework is centered on five pillars — sports events, sports tech, sports academia, sports business leadership and women’s sports.
The plan’s goals include:
Being the top three sports event host cities in the United States
Being the sports tech hub of the United States
Being the women’s sports capital of the world
Indianapolis has recently hosted numerous major sporting events, including the NBA All-Star Game, the U.S. Olympic Team Swim Trials, and the NFL Combine.
In 2025, the city will host more large events, including the WNBA All-Star Game.
Bottom Line - Since its inception, Indiana Sports Corp has hosted over 450 national and international sporting events, generating more than $4 billion in direct community spending. With athletes like Caitlin Clark and programs such as the Techstars Sports Accelerator Powered by Indy, Indiana now has a framework to stand out in the face of rising competition.
Read more here
FIFA Women’s World Cup Set to Expand
FIFA, soccer’s global governing body, is in talks to expand the Women’s World Cup to 48 teams.
After the 2023 Women’s World Cup set new attendance and viewership records, FIFA is being urged to ensure gender parity by adding 16 teams to the field as soon as 2031.
The 2023 edition of the tournament was the first to feature an expanded format of 32 teams, up from the previous number of 24.
This put the women’s tournament in line with the Men’s FIFA World Cup, which has included 32 teams since 1998. That said, the 2026 Men’s World Cup will be expanding 48 teams.
Bottom Line - The top bids for the 2031 tournament are joint bids from US/Mexico and from the UK/Ireland. Like the US, the UK is one of few countries currently boasting the infrastructure capable of staging an expanded tournament.
Read more here
NBA to Lease Private Planes for All Team and Staff Travel
The NBA is working to lease 13 Airbus planes to provide team travel as the league seeks to improve working conditions for players around the league.
Not every team is expected to use the fleet as many teams already have their own dedicated aircraft (LA Lakers, Boston Celtics, Dallas Mavericks, Golden State Warriors, Houston Rockets and Cleveland Cavaliers).
Research shows that even with flights of less than six hours there is a greater risk of players performing badly and getting injured when playing. Some 54% of injuries in the NBA happen when teams are not playing at home.
Bottom Line - NBA players spend more time flying than athletes in all other major team sports in the United States. Still, the NFL and MLS could look at similar arrangements to improve player welfare.
Read more here
Until next time ✌🏾
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