{"id":308283,"date":"2024-01-26T18:23:41","date_gmt":"2024-01-27T00:23:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=308283"},"modified":"2024-01-29T11:51:56","modified_gmt":"2024-01-29T17:51:56","slug":"musks-x-formerly-twitter-could-work-with-betmgm","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/","title":{"rendered":"Elon Musk\u2019s X Reportedly Partnering with BetMGM"},"content":{"rendered":"

Elon Musk\u2019s X — the social media platform formerly known as Twitter — is reportedly in discussions with BetMGM to integrate sports betting into its widely used site.<\/p>\n

\"Twitter\"
X (formerly Twitter) owner Elon Musk. The social media site could be entering a partnership with BetMGM. (Image: Reuters<\/em>)<\/figcaption><\/figure>\n

Fortune<\/em> broke the news earlier Friday, noting financial terms of the agreement haven\u2019t been revealed. A potential BetMGM\/X relationship would be expected to include the social media site featuring BetMGM odds and direct links to the operator\u2019s online sportsbook.<\/p>\n

BetMGM, which turns six years old in July, is a 50\/50 joint venture<\/a> between MGM Resorts International (NYSE: MGM) and UK-based Entain Plc (OTC: GMVHF). It\u2019s the third-largest online sportsbook operator in the U.S. behind FanDuel and DraftKings (NASDAQ: DKNG).<\/p>\n

BetMGM is the exclusive sports betting partner to\u00a0MGM\u00a0Resorts nationwide, both online and in MGM\u2019s\u00a0physical casinos. BetMGM is also a leader in\u00a0online casino gaming and poker,\u00a0along with sister brands Borgata Online, Party Casino and Party Poker,\u201d<\/strong> according to the New Jersey-based gaming company.<\/p><\/blockquote>\n

BetMGM has internet and retail sportsbooks in 13 states and Washington, D.C.<\/p>\n

Pivotal Timing for X, BetMGM Deal<\/h2>\n

News of the potential BetMGM\/X partnership emerged about two weeks before the Super Bowl. That\u2019s pertinent because live events have become a staple of X\u2019s avenues for user engagement, and there\u2019s arguably nothing quite like the NFL<\/a> to get social media users talking, at least when it comes to sports.<\/p>\n

\n

Should the partnership come to fruition, it likely won\u2019t be a major revenue driver for privately held X. Still, it would be a contributor and potentially signal to other mainstream, consumer-facing companies that it\u2019s alright to advertise on the social media platform.<\/p>\n<\/div>\n

It\u2019s estimated that X posted just $2.5 billion in sales last year, a more than 50% decline from 2021 — its last year as a public company. That drop results from some left-leaning companies pulling advertisements \u2013 long X\u2019s primary source of revenue — from the platform due to political disagreements with Musk. That\u2019s interesting because the Tesla founder said he voted \u201coverwhelmingly for Democrats\u201d before 2022. He\u2019s now a registered independent and views himself as \u201cpolitically moderate.\u201d<\/p>\n

The possible agreement with BetMGM jibes with Musk\u2019s plans to diversify X\u2019s revenue streams. To date, those efforts have included subscriptions and licensing deals, along with charging a monthly fee for the famed blue checkmark.<\/p>\n

Interesting Timing for BetMGM, Too<\/h2>\n

It remains to be seen just how much of a needle-mover X could be for BetMGM. Still, there\u2019s clear potential and synergies between social media and sports betting, indicating there could be promise in this relationship.<\/p>\n

To that end, news of a deal between the gaming company and X emerged just weeks after former Entain CEO Jette Nygaard-Andersen was forced out and as activist investors circle<\/a> that company.<\/strong><\/p>\n

It\u2019s widely rumored that some, if not all, of those activists could push Entain to sell its stake in BetMGM to MGM — a transaction that would almost assuredly be to the delight of the casino operator.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk\u2019s X — the social media platform formerly known as Twitter — is reportedly in discussions with BetMGM to integrate sports betting into its widely used site. Fortune broke the news earlier Friday, noting financial terms of the agreement haven\u2019t been revealed. A potential BetMGM\/X relationship would be expected to include the social media […]<\/p>\n","protected":false},"author":46,"featured_media":242584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1074,16693],"tags":[81967,80968,82041],"acf":[],"yoast_head":"\nMusk's X, Formerly Twitter, Could Work With BetMGM<\/title>\n<meta name=\"description\" content=\"Elon Musk\u2019s X Reportedly Partnering with BetMGM.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Musk's X, Formerly Twitter, Could Work With BetMGM\" \/>\n<meta property=\"og:description\" content=\"Elon Musk\u2019s X Reportedly Partnering with BetMGM.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-27T00:23:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-29T17:51:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/twitter.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/\",\"url\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/\",\"name\":\"Musk's X, Formerly Twitter, Could Work With BetMGM\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/twitter.jpg\",\"datePublished\":\"2024-01-27T00:23:41+00:00\",\"dateModified\":\"2024-01-29T17:51:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Elon Musk\u2019s X Reportedly Partnering with BetMGM.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/musks-x-formerly-twitter-could-work-with-betmgm\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/twitter.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/twitter.jpg\",\"width\":1280,\"height\":720,\"caption\":\"X (formerly Twitter) owner Elon Musk. 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