BetMGM and Charlotte Motor Speedway have partnered in a market access agreement to bring BetMGM’s sports betting platform to the state of North Carolina.
The motorsports and entertainment venue has partnered with BetMGM as a way to meet the demand for sports entertainment in the state, BetMGM CEO Adam Greenblatt expressed. "We have been eagerly awaiting legal, safe, regulated online sports betting in North Carolina, a state with more than 10 million people.
"BetMGM's partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians," he said.
The legalization and regulation of sports betting in the state is expected to generate tax revenues that can be put toward publicly funded colleges and other public services. This is observed across multiple states, with $96m going to education from tax revenue generated by gaming in New York in December alone.
Tax revenue will also go towards major event finding, which the state can use to generate jobs and tourism. This, in turn, will have a positive economic impact on the state.
BetMGM is not the only sports betting platform coming to the Old North State, with DraftKings also intending to come to North Carolina following an agreement with NASCAR. These announcements were made on the same day.
On the partnership, EVP of Charlotte Motor Speedway Greg Walter said, "BetMGM has established itself as a signature source for sports betting with partnerships in every major league sport and with venues across the country.
“This partnership with BetMGM will bring sports fans new ways to enjoy their favorite events while expanding North Carolina's tax base, supporting colleges and facilitating recruitment of major events for the future."
BetMGM is expected to go live in North Carolina in the first quarter of 2024.
