A sports betting-related exchange traded fund surged Friday after NBCUniversal announced a multi-year partnership with PointsBet by which the sports betting platform will become the official betting partner of NBC Sports.
The Roundhill Sports Betting & iGaming ETF (BETZ) jumped 6.1% on Friday.
Meanwhile, PointsBet Holdings Ltd (PBH) advanced 80% earlier in the day. PBH makes up 5.9% of Roundhill Sports Betting & iGaming ETF’s underlying holdings.
PointsBet made a “transformational” five-year media partnership with US-based media company NBCUniversal, a subsidiary of media giant Comcast, SmallCaps reports.
The Australian betting platform said its services will be integrated across NBC Sports’ portfolio of sports-focused cable networks and will be promoted via free over-the-air broadcasts, multichannel video services such as Comcast and Spectrum, as well as virtual multichannel video providers, including Hulu and YouTube TV.
“Through the NBC Sports partnership, PointsBet gains access to market-leading broadcast assets which span 184 million viewers and digital assets which span 60 million monthly active users,” PointsBet managing director and chief executive officer Sam Swanell said.
“These assets will act as the cornerstone of our marketing strategy and combined with our in-house technology and products, as well as our talented and experienced team, will deliver outstanding client acquisition and retention efficiency as we scale rapidly over the next five years,” he added.
Furthermore, PointsBet will also be integrated with Telemundo, a North American Spanish-language terrestrial television network owned by NBCUniversal that reaches 94% of Spanish-speaking US households.
NBC asserts it reaches 81% of the U.S. sports betting market and services 60 million users every month across its various digital platforms.
“We are excited to begin this partnership with PointsBet, which will deliver unmatched sports betting engagement opportunities across multiple platforms,” David Preschlack, president of NBC Sports Regional Networks and executive vice president of content strategy at NBC Sports Group, said.
“For NBCUniversal and PointsBet, this agreement provides considerable opportunities in the fast-growing sports betting marketplace, which is unique to this extensive and robust multi-year arrangement. Looking ahead, we’re also excited about the significant activation opportunities that will come to fruition as sports betting continues to proliferate across the US,” he added.
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