1 00:00:02,400 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:11,600 Speaker 2: This is Bloomberg Business of Sports. Business of Sports can 3 00:00:11,640 --> 00:00:14,200 Speaker 2: be intimidating for hard for a start to break into. 4 00:00:14,320 --> 00:00:17,319 Speaker 3: We really appreciate when our owners are actually there, you know, 5 00:00:17,400 --> 00:00:18,480 Speaker 3: with us through the journey. 6 00:00:18,520 --> 00:00:22,040 Speaker 1: Teams ours especially have been very intentional to diversify at 7 00:00:22,040 --> 00:00:23,040 Speaker 1: all levels of the company. 8 00:00:23,160 --> 00:00:25,239 Speaker 4: I think we're in the golden gears for the NFL 9 00:00:25,440 --> 00:00:26,360 Speaker 4: and college football. 10 00:00:26,400 --> 00:00:30,000 Speaker 3: Our demographic reach has continued to expand. This is going 11 00:00:30,080 --> 00:00:34,200 Speaker 3: to be really unlocking the streaming platform for sports fans. 12 00:00:34,280 --> 00:00:36,760 Speaker 4: Sports valuations are rising, We'll see when they peak. 13 00:00:36,840 --> 00:00:39,440 Speaker 5: You don't have to be the best in your sports 14 00:00:39,440 --> 00:00:42,360 Speaker 5: to make a whole ton of money. 15 00:00:42,400 --> 00:00:45,600 Speaker 4: Bloomberg Business of Sports from Bloomberg Radio. 16 00:00:46,720 --> 00:00:49,080 Speaker 1: This is the Bloomberg Business of Sports where we explore 17 00:00:49,120 --> 00:00:51,360 Speaker 1: the big money issues in the world of sports. I'm 18 00:00:51,400 --> 00:00:54,280 Speaker 1: Scarlett Foo along with Damian Sasaur and special guest hosts 19 00:00:54,320 --> 00:00:58,400 Speaker 1: Bloomberg Originals, Sports Course, Want, Vanessa Perdomo, Michael barr Is 20 00:00:58,520 --> 00:01:01,560 Speaker 1: Off this week and later Boomberg Originals. She of course Wonded. 21 00:01:01,640 --> 00:01:03,320 Speaker 1: Jason Kelly will be joining. 22 00:01:03,040 --> 00:01:04,880 Speaker 4: Us coming up on the show. We'll hear from the 23 00:01:04,920 --> 00:01:08,800 Speaker 4: CEO of Bet MGM Adam Greenblatt right as we hit 24 00:01:08,920 --> 00:01:11,080 Speaker 4: the home stretch of the NFL season. 25 00:01:11,440 --> 00:01:13,520 Speaker 6: It's been a tailor of growth over the last four 26 00:01:13,600 --> 00:01:17,199 Speaker 6: or five years. Benm GM is now in twenty nine 27 00:01:17,280 --> 00:01:21,000 Speaker 6: different states, serving over fifty percent of the US population 28 00:01:21,120 --> 00:01:24,959 Speaker 6: with some kind of sports offering, sports betting offering. 29 00:01:25,280 --> 00:01:27,720 Speaker 1: Plus we'll talk you as soccer with Cindy Parlo Cone. 30 00:01:27,720 --> 00:01:30,200 Speaker 1: She's president of the United States Soccer Federation. 31 00:01:30,400 --> 00:01:34,880 Speaker 3: What we're seeing specifically in soccer is investors that are 32 00:01:35,000 --> 00:01:40,520 Speaker 3: committed to the game and the people right and wanting 33 00:01:40,560 --> 00:01:44,160 Speaker 3: to really develop these people and surround these people with 34 00:01:44,280 --> 00:01:46,040 Speaker 3: great executives around them. 35 00:01:46,080 --> 00:01:48,400 Speaker 1: That conversation and more on the way on the Bloomberg 36 00:01:48,440 --> 00:01:51,560 Speaker 1: business of sports. But first, big tech companies have been 37 00:01:51,640 --> 00:01:55,000 Speaker 1: leaning into carrying more live sports on their platforms, none 38 00:01:55,040 --> 00:01:58,960 Speaker 1: more so than Amazon Prime. Prime has carried the NFL's 39 00:01:59,000 --> 00:02:02,160 Speaker 1: Thursday Night and even carried games on Black Friday. 40 00:02:02,440 --> 00:02:05,320 Speaker 5: Amazon believes leaning into live sports will get more people 41 00:02:05,360 --> 00:02:08,520 Speaker 5: into their ecosystem, and it is putting its money where 42 00:02:08,560 --> 00:02:11,800 Speaker 5: its mouth is. Right now, Amazon is outspending the rest 43 00:02:11,800 --> 00:02:15,000 Speaker 5: of big tech with live sports, adding NBA games next season, 44 00:02:15,440 --> 00:02:20,079 Speaker 5: WNBA games, Women's soccer NASCAR and more. That's on top 45 00:02:20,080 --> 00:02:21,600 Speaker 5: of this huge deal with the NFL. 46 00:02:22,000 --> 00:02:25,120 Speaker 4: For more on Amazon's live sports plans and how it 47 00:02:25,160 --> 00:02:29,160 Speaker 4: helps the retailer's bottom line, we welcome Bloomberg News Global 48 00:02:29,200 --> 00:02:32,720 Speaker 4: Business Editor Matt Townsend. Matt, Welcome to the Bloomberg Business 49 00:02:32,760 --> 00:02:33,360 Speaker 4: of Sports. 50 00:02:33,400 --> 00:02:34,959 Speaker 2: Hey, thanks for having me, Matt. 51 00:02:35,040 --> 00:02:37,840 Speaker 5: Amazon paid one hundred million dollars for the Black Friday Game, 52 00:02:38,320 --> 00:02:40,880 Speaker 5: They pay a billion dollars annually for Thursday Night Football, 53 00:02:41,440 --> 00:02:44,440 Speaker 5: and their new NBA contract is worth nineteen billion dollars. 54 00:02:44,800 --> 00:02:46,680 Speaker 5: How long can they keep spending like this before they 55 00:02:46,760 --> 00:02:48,000 Speaker 5: need to raise the cost of prime? 56 00:02:48,320 --> 00:02:50,720 Speaker 2: Good question. I mean the story with prime has always 57 00:02:50,760 --> 00:02:53,840 Speaker 2: been that it is heavily subjudized and then you're getting 58 00:02:53,840 --> 00:02:55,560 Speaker 2: way more than what you pay for it. I think 59 00:02:55,560 --> 00:02:58,160 Speaker 2: it's like one hundred and thirty nine dollars now, I 60 00:02:58,200 --> 00:03:02,320 Speaker 2: mean the but uh, you know, Ara Budue wrote wrote 61 00:03:02,320 --> 00:03:04,520 Speaker 2: a story about this, and you know what he gets 62 00:03:04,560 --> 00:03:07,119 Speaker 2: into in the story is that there's a question mark 63 00:03:07,160 --> 00:03:10,320 Speaker 2: about you know, is Amazon really making any money off this? 64 00:03:10,520 --> 00:03:12,880 Speaker 2: Like what is the return on all this investment in sports? 65 00:03:13,720 --> 00:03:16,520 Speaker 2: Obviously they're not coming out and saying giving us all 66 00:03:16,520 --> 00:03:21,360 Speaker 2: the details, but you know, they do put ads around 67 00:03:21,400 --> 00:03:23,919 Speaker 2: these games, you know, TV ads where they have some 68 00:03:23,960 --> 00:03:26,840 Speaker 2: advertising business. They obviously get people to sign up for stuff, 69 00:03:27,639 --> 00:03:29,440 Speaker 2: and they're doing all these things with QR code. There 70 00:03:29,480 --> 00:03:31,800 Speaker 2: was all these prompts to hold up your phone to 71 00:03:31,840 --> 00:03:34,480 Speaker 2: the screen and to do this QR code. 72 00:03:34,480 --> 00:03:36,839 Speaker 4: So yeah, you know that, Matt, let me jump in here, 73 00:03:36,880 --> 00:03:39,760 Speaker 4: because that is everywhere, right, these QR codes along the 74 00:03:39,880 --> 00:03:42,200 Speaker 4: border of yours, of any tell I mean I was 75 00:03:42,240 --> 00:03:43,920 Speaker 4: on all week and long. You know, is that is 76 00:03:43,920 --> 00:03:46,040 Speaker 4: that something that's working? Do you have any information on that? 77 00:03:46,640 --> 00:03:48,920 Speaker 2: I think I wrote in his story that you know 78 00:03:49,160 --> 00:03:52,080 Speaker 2: it was somewhat successful. I mean it wasn't you know. 79 00:03:52,160 --> 00:03:56,160 Speaker 2: They do that a lot with with their prime content. 80 00:03:56,280 --> 00:03:59,760 Speaker 2: So I think it is, you know, a behavior that 81 00:03:59,760 --> 00:04:02,960 Speaker 2: people are starting to do more and more as just consumers, 82 00:04:03,080 --> 00:04:05,360 Speaker 2: you know, putting up their phone to the TV or 83 00:04:05,360 --> 00:04:09,360 Speaker 2: whatever screen they're watching and scanning that QR code. Again, 84 00:04:09,440 --> 00:04:11,480 Speaker 2: my currer codes have been around for a long time, 85 00:04:11,600 --> 00:04:14,280 Speaker 2: so it's it's kind of funny that that's like the 86 00:04:14,320 --> 00:04:16,920 Speaker 2: big strategy for a lot of these companies to get 87 00:04:16,920 --> 00:04:20,240 Speaker 2: you to shop while you're watching TV. But yeah, it 88 00:04:20,640 --> 00:04:22,760 Speaker 2: mains me seem like, how how far amant that will 89 00:04:22,760 --> 00:04:25,480 Speaker 2: go with this, you know, and how much of a 90 00:04:25,560 --> 00:04:28,280 Speaker 2: return they're getting given that they're putting more money into it, 91 00:04:28,279 --> 00:04:30,960 Speaker 2: they like necessarily signed this big NBA deal, You would 92 00:04:30,960 --> 00:04:33,200 Speaker 2: think that they are seeing returns. They do see it 93 00:04:33,200 --> 00:04:36,719 Speaker 2: as a way to bring people into the ecosystem. So yeah, 94 00:04:36,800 --> 00:04:38,279 Speaker 2: I think I think more of the same is probably 95 00:04:38,279 --> 00:04:38,800 Speaker 2: to come from. 96 00:04:38,720 --> 00:04:39,960 Speaker 3: Them, Matt. 97 00:04:40,000 --> 00:04:42,520 Speaker 1: I also want to bring in another story that your 98 00:04:42,560 --> 00:04:45,680 Speaker 1: team has been covering, and that is the sale of 99 00:04:45,720 --> 00:04:48,480 Speaker 1: the Boston Celtics. We know that it's up for sale, 100 00:04:48,680 --> 00:04:52,120 Speaker 1: and now it turns out that some Middle East sovereign 101 00:04:52,160 --> 00:04:55,280 Speaker 1: wealth funds are potential buyers. They've been kind of kicking 102 00:04:55,320 --> 00:04:55,800 Speaker 1: the tires. 103 00:04:56,320 --> 00:05:00,440 Speaker 2: Yes, we reported this week that the principle owner of 104 00:05:00,440 --> 00:05:03,640 Speaker 2: the of the of the Celtics was over in Abu Dhabi. 105 00:05:04,080 --> 00:05:06,760 Speaker 2: It's part of the NBA's annual trip over there in 106 00:05:06,800 --> 00:05:10,000 Speaker 2: the preseason. The Celtics plays some preseason games, and we 107 00:05:10,160 --> 00:05:14,360 Speaker 2: reported that Celtics owners have met with one of the 108 00:05:14,400 --> 00:05:17,040 Speaker 2: sovereign wealth funds over there, and this would be only 109 00:05:17,080 --> 00:05:19,960 Speaker 2: to buy a passive sort of small stake in the 110 00:05:20,120 --> 00:05:24,919 Speaker 2: in the in the in the club. But you know, 111 00:05:24,960 --> 00:05:29,360 Speaker 2: more and more Middle Eastern sovereign wealth funds are sort 112 00:05:29,360 --> 00:05:31,000 Speaker 2: of the investors of last resort for a lot of 113 00:05:31,000 --> 00:05:35,200 Speaker 2: sports franchises because it is so much money. So it 114 00:05:35,279 --> 00:05:38,760 Speaker 2: remains to be seen whether this this specific sovereign wealth 115 00:05:38,800 --> 00:05:42,400 Speaker 2: fund will invest in in the Celtics. We had some 116 00:05:42,400 --> 00:05:46,160 Speaker 2: reporting that, you know, these sovereign wealth funds are kind 117 00:05:46,160 --> 00:05:49,400 Speaker 2: of tired of putting in, you know, getting small passive stakes. 118 00:05:49,400 --> 00:05:51,920 Speaker 2: They want to they want some say in management. They'd 119 00:05:51,920 --> 00:05:54,800 Speaker 2: like to try to own, you know, us sports franchises. 120 00:05:55,160 --> 00:05:58,240 Speaker 2: The leagues at this point aren't allowing that. So the 121 00:05:58,320 --> 00:06:00,680 Speaker 2: NBA is one of the few leagues right now allows 122 00:06:00,839 --> 00:06:03,000 Speaker 2: even some love fund to take a small stake. So 123 00:06:03,640 --> 00:06:05,440 Speaker 2: but it gets that's sort of the push over to 124 00:06:05,440 --> 00:06:07,240 Speaker 2: the Middle East. The NBA is doing more of this. 125 00:06:07,760 --> 00:06:11,320 Speaker 2: They're trying to expand internationally and then Release is one 126 00:06:11,320 --> 00:06:12,560 Speaker 2: of the markets where they think they have a lot 127 00:06:12,560 --> 00:06:13,599 Speaker 2: of potential. 128 00:06:14,640 --> 00:06:15,960 Speaker 7: And in that market. 129 00:06:16,000 --> 00:06:19,440 Speaker 5: It's interesting obviously Jake and Giles's story they kind of 130 00:06:19,480 --> 00:06:22,599 Speaker 5: talk about how the NBA is planning on expanding there 131 00:06:22,680 --> 00:06:26,440 Speaker 5: more and looking at the idea of you know, putting 132 00:06:26,480 --> 00:06:28,440 Speaker 5: in an office there potentially, which they do have a 133 00:06:28,480 --> 00:06:29,960 Speaker 5: lot of international offices. 134 00:06:30,040 --> 00:06:32,200 Speaker 7: Obviously, to grow, you know, their footprint. 135 00:06:32,640 --> 00:06:35,600 Speaker 5: But do you think that they're looking at this as 136 00:06:35,760 --> 00:06:39,560 Speaker 5: a way into getting those sovereign deals done, do you 137 00:06:39,600 --> 00:06:40,200 Speaker 5: think or. 138 00:06:40,200 --> 00:06:42,719 Speaker 7: Is it just they actually see a market there in 139 00:06:42,760 --> 00:06:43,800 Speaker 7: the fandom. 140 00:06:44,640 --> 00:06:46,479 Speaker 2: Yeah, I think it's probably a little of both. I think. 141 00:06:47,680 --> 00:06:52,520 Speaker 2: I mean, they definitely are courting some wealth funds. You know, 142 00:06:52,560 --> 00:06:54,719 Speaker 2: they have deep pockets. They want to they'd love to 143 00:06:54,720 --> 00:06:59,920 Speaker 2: get them into ownership. But also, you know, the NBA 144 00:07:00,680 --> 00:07:03,120 Speaker 2: wants to keep expanding internationally, and there's a lot of 145 00:07:03,120 --> 00:07:06,280 Speaker 2: talk about will they just put a team overseas somewhere, 146 00:07:07,120 --> 00:07:09,400 Speaker 2: whether it's in North America or maybe they'll do something 147 00:07:09,480 --> 00:07:13,000 Speaker 2: with with Europe, sort of creating a league over there 148 00:07:13,080 --> 00:07:16,600 Speaker 2: that's connected to the NBA in some way. The NBA 149 00:07:16,680 --> 00:07:18,200 Speaker 2: was one that was basically, you know, the first big 150 00:07:18,200 --> 00:07:21,560 Speaker 2: pro league to really go international. They pushed and they 151 00:07:21,560 --> 00:07:25,040 Speaker 2: have tons of international fans, and then you know they're 152 00:07:25,520 --> 00:07:28,160 Speaker 2: they're seeing right on the wall that they need to 153 00:07:28,200 --> 00:07:30,600 Speaker 2: do more of this to really keep growing the fan base. 154 00:07:30,680 --> 00:07:33,200 Speaker 2: They can't just rely on North America anymore. 155 00:07:33,760 --> 00:07:35,160 Speaker 4: So, you know, I find it very I mean, I 156 00:07:35,200 --> 00:07:36,960 Speaker 4: have to say, Matt, you know, Wick Grosspick, the principal 157 00:07:36,960 --> 00:07:38,520 Speaker 4: owner of the Celtics is a friend of the show. 158 00:07:38,560 --> 00:07:40,000 Speaker 4: You know, he was just on a few weeks of 159 00:07:40,400 --> 00:07:42,080 Speaker 4: back and you know, I know the guys that move 160 00:07:42,120 --> 00:07:44,120 Speaker 4: Battala and I'm just surprised he didn't, you know, break 161 00:07:44,120 --> 00:07:45,840 Speaker 4: that to us, Scarlett. I'm a little bit disappointed with 162 00:07:45,920 --> 00:07:47,440 Speaker 4: him for that. And you know, look, I mean I 163 00:07:47,440 --> 00:07:48,880 Speaker 4: know what Scarlett really wants to know. She wants to 164 00:07:48,960 --> 00:07:50,440 Speaker 4: know up the Nixer for salth. So talk to me 165 00:07:50,480 --> 00:07:54,000 Speaker 4: about what is going on with James Dolan, his relationships 166 00:07:54,000 --> 00:07:56,280 Speaker 4: with the Middle East. You know that Sphere Entertainment's got, 167 00:07:56,320 --> 00:07:57,920 Speaker 4: you know, you know, I think they're building one in 168 00:07:58,000 --> 00:08:00,360 Speaker 4: Amudabi now another sphere, and you know, talk to us 169 00:08:00,360 --> 00:08:02,679 Speaker 4: a little bit about you know, what Middle Eastern money 170 00:08:02,680 --> 00:08:04,800 Speaker 4: means to the New York Knickerbockers. 171 00:08:05,360 --> 00:08:07,680 Speaker 2: Yeah again, I mean, you know, for those of us 172 00:08:07,720 --> 00:08:10,720 Speaker 2: who followed James Dolan's career, it doesn't seem feasible that 173 00:08:10,760 --> 00:08:14,200 Speaker 2: he's going to want to sell a controlling stake in 174 00:08:14,280 --> 00:08:16,400 Speaker 2: the next to someone else. But look that they're looking 175 00:08:16,440 --> 00:08:19,200 Speaker 2: for more money to do, you know, more things with 176 00:08:19,280 --> 00:08:24,480 Speaker 2: the franchise. And you know, Dolan's a smart business business person, 177 00:08:24,560 --> 00:08:26,840 Speaker 2: so he's he's already has connections to the Middle East, 178 00:08:26,880 --> 00:08:29,160 Speaker 2: so it makes sense that you know, they're kicking the 179 00:08:29,240 --> 00:08:32,719 Speaker 2: tires on bringing in uh, you know, some milliaster investors. 180 00:08:33,160 --> 00:08:36,120 Speaker 2: But I don't. I don't think Knicks fans, whether you 181 00:08:36,280 --> 00:08:39,600 Speaker 2: like James Doan or not, should expect any sort of 182 00:08:39,840 --> 00:08:43,400 Speaker 2: change in control with the mix. For sure, they're looking 183 00:08:43,400 --> 00:08:46,040 Speaker 2: just to raise some more money and have some more 184 00:08:46,720 --> 00:08:48,360 Speaker 2: cash in their pocket to do certain things. 185 00:08:48,400 --> 00:08:50,440 Speaker 5: So the other story that we're looking at that Randal 186 00:08:50,480 --> 00:08:53,760 Speaker 5: put out this week was about Oklahoma City and Russell Westbrook, 187 00:08:53,840 --> 00:08:59,360 Speaker 5: you know, investing into their downtown, but it also has you. 188 00:08:59,280 --> 00:08:59,800 Speaker 7: Know, potential. 189 00:08:59,800 --> 00:09:02,800 Speaker 5: They're building a new stadium, but it's for the Oklahoma 190 00:09:02,840 --> 00:09:07,040 Speaker 5: City Energy FC, which is a second tier you know 191 00:09:07,320 --> 00:09:10,960 Speaker 5: men's soccer team. Talk to us about that, and you 192 00:09:11,000 --> 00:09:14,080 Speaker 5: know what it really says about, I guess investing in 193 00:09:15,400 --> 00:09:18,040 Speaker 5: more so of the entertainment sphere, right because it seems 194 00:09:18,040 --> 00:09:20,960 Speaker 5: like it the soccer play isn't what's going to make 195 00:09:21,000 --> 00:09:22,719 Speaker 5: the most money here. 196 00:09:23,520 --> 00:09:26,839 Speaker 2: Yeah, So there's you're right, there's this movement, this trend 197 00:09:26,920 --> 00:09:31,480 Speaker 2: where you know, especially city centers or downtowns are looking 198 00:09:31,520 --> 00:09:35,199 Speaker 2: at their development, you know, whether they have stadiums or 199 00:09:35,240 --> 00:09:38,280 Speaker 2: arenas and basically, you know, figuring out ways to get 200 00:09:38,640 --> 00:09:42,160 Speaker 2: more tax dollars coming from those areas. So they're trying 201 00:09:42,200 --> 00:09:45,360 Speaker 2: to build sort of entertainment destinations. And we've seen these 202 00:09:45,360 --> 00:09:48,240 Speaker 2: in other markets where it's not just a stadium in 203 00:09:48,280 --> 00:09:51,280 Speaker 2: a parking lot anymore. It's a stadium with you know, 204 00:09:51,520 --> 00:09:54,320 Speaker 2: tons of restaurants and bars and other little venues maybe 205 00:09:54,320 --> 00:09:56,520 Speaker 2: where you can have concerts and sort of you know, 206 00:09:56,679 --> 00:10:01,200 Speaker 2: just make it more of a year round destination. And 207 00:10:01,240 --> 00:10:04,920 Speaker 2: that's what's happened here in Oklahoma City. There's this open 208 00:10:05,120 --> 00:10:09,840 Speaker 2: land near the Convention Center, near the NBA Arena and 209 00:10:11,120 --> 00:10:14,640 Speaker 2: Wes Russell Welsbrook and this investment from our partnering with 210 00:10:14,640 --> 00:10:17,880 Speaker 2: with the city to build this soccer stadium which would 211 00:10:17,880 --> 00:10:20,320 Speaker 2: be multi use and have you know, it could be 212 00:10:20,559 --> 00:10:23,080 Speaker 2: a concert venue as well or other events, and then 213 00:10:23,120 --> 00:10:26,960 Speaker 2: build restaurants and retail and some community spaces around it 214 00:10:27,000 --> 00:10:29,240 Speaker 2: to make it more of a destination year round, like 215 00:10:29,280 --> 00:10:31,600 Speaker 2: I was saying. So that's it's kind of in line 216 00:10:31,640 --> 00:10:34,439 Speaker 2: with the trend we're seeing across sports where they want 217 00:10:34,480 --> 00:10:36,079 Speaker 2: more than just to stay in a parking lot. That's 218 00:10:36,160 --> 00:10:39,240 Speaker 2: kind of the old way of thinking about how you 219 00:10:39,559 --> 00:10:41,840 Speaker 2: develop the area around a stadium on arena. 220 00:10:42,720 --> 00:10:45,000 Speaker 1: All right, Matt Townsend, thank you so much for joining us. 221 00:10:45,000 --> 00:10:49,160 Speaker 1: Matt Townsend is Bloomberg's Global business editor for sports. 222 00:10:49,640 --> 00:10:51,559 Speaker 4: Coming up on the show, we're going to pivot to 223 00:10:51,600 --> 00:10:56,040 Speaker 4: soccer and talk with US Soccer President Cidy Parlow Cone. 224 00:10:56,240 --> 00:10:57,280 Speaker 3: But before we get there. 225 00:10:57,160 --> 00:11:01,480 Speaker 4: Vanessa, you have been following all the NWILL action this year. 226 00:11:01,840 --> 00:11:04,080 Speaker 4: Tell us about Kansas City, tell us about the growth 227 00:11:04,080 --> 00:11:06,360 Speaker 4: of women's soft and tell us about your weekend. 228 00:11:06,600 --> 00:11:06,920 Speaker 3: Yeah. 229 00:11:06,960 --> 00:11:10,240 Speaker 5: So I was in Kansas City last week for the 230 00:11:10,320 --> 00:11:13,640 Speaker 5: championship game between the Orlando Pride and the Washington Spirit, 231 00:11:14,559 --> 00:11:17,640 Speaker 5: and you know, the Pride ended up taking it won nothing. 232 00:11:18,080 --> 00:11:21,000 Speaker 5: It was quite an exciting game, even though it doesn't 233 00:11:21,040 --> 00:11:23,720 Speaker 5: sound like it, you know, it just is. You know, 234 00:11:23,760 --> 00:11:27,920 Speaker 5: when you're there in the stadium, the vibe was really high, 235 00:11:28,080 --> 00:11:31,680 Speaker 5: even though you know, surprisingly it wasn't a full stadium. 236 00:11:31,720 --> 00:11:32,400 Speaker 7: I guess you can. 237 00:11:32,240 --> 00:11:36,400 Speaker 5: Say surprisingly or not surprisingly it was technically sold out. 238 00:11:36,880 --> 00:11:38,000 Speaker 3: But Damian, here's the thing. 239 00:11:38,760 --> 00:11:42,560 Speaker 5: The nws CEL hosts their championship games at neutral sites. 240 00:11:43,040 --> 00:11:45,920 Speaker 5: So the problem is Orlando Pride in Washington Spirit. They 241 00:11:45,960 --> 00:11:49,280 Speaker 5: advanced in the semi finals one week before the Championship, 242 00:11:49,920 --> 00:11:52,160 Speaker 5: so fans really only had one week to get there 243 00:11:52,480 --> 00:11:55,480 Speaker 5: in Kansas City, not the biggest airport in the world. 244 00:11:55,600 --> 00:11:57,200 Speaker 7: You know, not the easiest place to get to. 245 00:11:57,440 --> 00:12:00,960 Speaker 5: So there was a decent turnout, but not as many 246 00:12:01,000 --> 00:12:03,960 Speaker 5: fans as I'm sure they would like. And the Kansas 247 00:12:03,960 --> 00:12:07,200 Speaker 5: City fans who bought tickets, you know, thinking their team 248 00:12:07,200 --> 00:12:09,120 Speaker 5: would be in the final because they made it to 249 00:12:09,120 --> 00:12:12,120 Speaker 5: the semifinals and they had an incredible year. They didn't 250 00:12:12,200 --> 00:12:13,800 Speaker 5: end up a lot of them didn't end up going, 251 00:12:13,840 --> 00:12:15,640 Speaker 5: but a lot of them still went because, you know, 252 00:12:15,679 --> 00:12:17,680 Speaker 5: they said, when I talked to some fans in the stadium, 253 00:12:17,760 --> 00:12:19,960 Speaker 5: they said, listen, it's been a great year. 254 00:12:20,080 --> 00:12:21,800 Speaker 7: It's still going to be a good game. I wish 255 00:12:21,840 --> 00:12:24,040 Speaker 7: we would have made it, but you know, we bought tickets, 256 00:12:24,040 --> 00:12:24,720 Speaker 7: so here we are. 257 00:12:25,160 --> 00:12:25,360 Speaker 4: You know. 258 00:12:25,440 --> 00:12:27,160 Speaker 5: One of the reasons it was held in Kansas City 259 00:12:27,200 --> 00:12:31,839 Speaker 5: this year was because CPKC Stadium is the first ever 260 00:12:32,000 --> 00:12:35,520 Speaker 5: stadium built for a women's soccer team in the world, 261 00:12:35,640 --> 00:12:37,720 Speaker 5: so it was really historic having the game there. 262 00:12:38,160 --> 00:12:43,640 Speaker 4: Vanessa Predomo Bloomberg Originals correspondent on all things women's soccer related, 263 00:12:43,880 --> 00:12:46,199 Speaker 4: and we've got more soccer up next with US Soccer 264 00:12:46,240 --> 00:12:50,240 Speaker 4: President Cindy Parlow Cohne stick around were my colleagues Scarlett 265 00:12:50,280 --> 00:12:53,400 Speaker 4: fu and the Desa Predomo. I'm Damian sas Hour and 266 00:12:53,480 --> 00:12:57,240 Speaker 4: you're listening to the Bloomberg Business of Sports from Bloomberg Radio. 267 00:12:57,800 --> 00:13:07,120 Speaker 4: Around the world, you're. 268 00:13:07,040 --> 00:13:10,959 Speaker 2: Listening to Bloomberg Business of Sports from Bloomberg Radio. 269 00:13:12,880 --> 00:13:15,680 Speaker 4: This is the Bloomberg Business of Sports where we explore 270 00:13:15,760 --> 00:13:18,360 Speaker 4: the big money issues in the world of sports. I'm 271 00:13:18,400 --> 00:13:22,680 Speaker 4: Damian Sasawer along with my colleagues Vanessa Perdomo and joining 272 00:13:22,720 --> 00:13:27,880 Speaker 4: us now Bloomberg Originals Chief correspondent Chas and Kelly. Soccer 273 00:13:27,960 --> 00:13:29,680 Speaker 4: is on the rise in the US with a North 274 00:13:29,720 --> 00:13:32,360 Speaker 4: American World Cup right around the corner, and the US 275 00:13:32,400 --> 00:13:36,880 Speaker 4: Soccer Federation knows it's at a major moment of opportunity. 276 00:13:37,200 --> 00:13:39,160 Speaker 4: Here to talk with us about the rise of soccer 277 00:13:39,160 --> 00:13:43,880 Speaker 4: in the States is US Soccer Federation President Cindy Parlow Cone. Cindy, 278 00:13:44,160 --> 00:13:46,160 Speaker 4: Welcome to the Bloomberg Business of Sports. 279 00:13:46,400 --> 00:13:47,840 Speaker 3: Thanks, thanks guys for having me. 280 00:13:48,040 --> 00:13:50,360 Speaker 4: All Right, so we have a new men's head coach. 281 00:13:50,440 --> 00:13:53,080 Speaker 4: We've got a lot happening in the world of women's soccer. 282 00:13:53,320 --> 00:13:56,280 Speaker 4: Tell us a little bit about what you're focused on 283 00:13:56,360 --> 00:13:57,360 Speaker 4: here in the early going. 284 00:13:57,800 --> 00:14:00,559 Speaker 3: You know, what we're focused on is winning so her games, 285 00:14:00,600 --> 00:14:04,679 Speaker 3: getting more kids playing soccer, right, improving the access to soccer. 286 00:14:05,840 --> 00:14:09,840 Speaker 3: And then obviously le announced Michelle Kang's generous donation of 287 00:14:09,880 --> 00:14:12,840 Speaker 3: thirty million dollars to US Soccer. So that will heavily 288 00:14:12,920 --> 00:14:18,920 Speaker 3: impact over one hundred thousand girls and women on the 289 00:14:18,920 --> 00:14:20,640 Speaker 3: girls side and women's side of the game. 290 00:14:21,520 --> 00:14:24,600 Speaker 5: Unbelievable. Yeah, generous is to say the least, for sure. 291 00:14:24,840 --> 00:14:26,720 Speaker 5: You know, Sindy, She's been doing so much in the space. 292 00:14:26,760 --> 00:14:28,640 Speaker 5: Michelle Kang's been doing so much in this space. She 293 00:14:28,720 --> 00:14:32,000 Speaker 5: owns three women's soccer teams, won the Washington Spear who 294 00:14:32,040 --> 00:14:35,720 Speaker 5: are in the NWSL Championship, and from what you've seen 295 00:14:35,800 --> 00:14:37,960 Speaker 5: from everything she's done, can you tell us about how 296 00:14:38,000 --> 00:14:40,200 Speaker 5: this deal came together. Was it you seeing what she 297 00:14:40,360 --> 00:14:43,040 Speaker 5: was doing and you being like, hey, over here, you know, 298 00:14:43,320 --> 00:14:45,480 Speaker 5: you know, we can use some of that too, or 299 00:14:45,760 --> 00:14:47,200 Speaker 5: was it a collaborative effort. 300 00:14:47,240 --> 00:14:49,120 Speaker 7: Did she come to you? How did it all come together? 301 00:14:49,920 --> 00:14:53,680 Speaker 3: It was a very collaborative effort. You know, Michelle is 302 00:14:54,480 --> 00:15:00,920 Speaker 3: continuously breaking down barriers and setting new expectations, and I 303 00:15:00,960 --> 00:15:04,040 Speaker 3: think her gift does exactly this. You know, my ninety 304 00:15:04,080 --> 00:15:08,000 Speaker 3: nine World Cup teammates and I we all thought the 305 00:15:08,080 --> 00:15:10,320 Speaker 3: ninety nine World Cup happened and then it was going 306 00:15:10,400 --> 00:15:15,040 Speaker 3: to be this massive explosion, but it ended up being 307 00:15:15,080 --> 00:15:20,400 Speaker 3: a moment, right. I think Michelle and what she has 308 00:15:20,520 --> 00:15:24,840 Speaker 3: done is she started a movement, right and it has 309 00:15:24,920 --> 00:15:30,520 Speaker 3: been sustained. You know, her donation to us is going 310 00:15:30,600 --> 00:15:36,520 Speaker 3: to be so impactful. So she's contributing to three main areas. 311 00:15:36,920 --> 00:15:40,640 Speaker 3: One is enabling us to increase our number of youth 312 00:15:40,720 --> 00:15:43,680 Speaker 3: national team camps, so we have eight youth national teams, 313 00:15:44,320 --> 00:15:46,760 Speaker 3: so we'll have more camps with us and more opportunities 314 00:15:46,760 --> 00:15:49,880 Speaker 3: for young girls and women. She's also putting money into 315 00:15:49,960 --> 00:15:54,880 Speaker 3: expanding improving our talent identification, so regardless of where you 316 00:15:54,960 --> 00:15:57,480 Speaker 3: live and play, you will have the opportunity to be 317 00:15:57,640 --> 00:16:00,200 Speaker 3: seen by our scouts. And then third, and I think 318 00:16:00,240 --> 00:16:04,160 Speaker 3: this is really important, is she's putting money towards fueling 319 00:16:04,280 --> 00:16:09,479 Speaker 3: the professional development of the coaches, the referees and executives. 320 00:16:10,120 --> 00:16:10,840 Speaker 7: We all know, to. 321 00:16:10,760 --> 00:16:12,800 Speaker 3: Develop the best players in the world, you have to 322 00:16:12,960 --> 00:16:16,720 Speaker 3: develop everyone around them too. For instance, right now, we're 323 00:16:16,720 --> 00:16:19,360 Speaker 3: looking with this donation to double the number of female 324 00:16:19,440 --> 00:16:21,800 Speaker 3: coaches and referees, which would be significant. 325 00:16:21,960 --> 00:16:23,920 Speaker 4: Talk to us a little bit about some of these benefactors. 326 00:16:23,920 --> 00:16:26,200 Speaker 4: It's not just you know, it's not just Ken. There's 327 00:16:26,240 --> 00:16:28,240 Speaker 4: so many other people out there, and certainly Ken had 328 00:16:28,240 --> 00:16:31,080 Speaker 4: a pretty big role, you know, in hiring the US 329 00:16:31,120 --> 00:16:34,760 Speaker 4: men team's new head coach, Mauricio Pocentino. I mean, tell 330 00:16:34,840 --> 00:16:36,960 Speaker 4: us a little bit about the role he played, about 331 00:16:36,960 --> 00:16:39,280 Speaker 4: the role you expect him to play for US Soccer 332 00:16:39,320 --> 00:16:39,840 Speaker 4: going forward. 333 00:16:40,720 --> 00:16:43,200 Speaker 3: Yeah, I mean he played a great role. I mean, 334 00:16:43,480 --> 00:16:47,240 Speaker 3: we know, to go after the best coaches in the world, 335 00:16:47,560 --> 00:16:50,320 Speaker 3: it's going to cost a lot of money, right and 336 00:16:50,800 --> 00:16:55,680 Speaker 3: as an MGB, as a nonprofit, that delta between a 337 00:16:56,000 --> 00:16:58,960 Speaker 3: head coach salary of a professional team and a head 338 00:16:58,960 --> 00:17:03,960 Speaker 3: coach salary of an m GB nonprofit organization like US Soccer, 339 00:17:05,119 --> 00:17:07,919 Speaker 3: it's hard to make up. And so when Ken stepped 340 00:17:08,000 --> 00:17:10,320 Speaker 3: up and we had some other donors step up as well, 341 00:17:11,080 --> 00:17:14,919 Speaker 3: it literally made us be able to dream big and 342 00:17:15,040 --> 00:17:18,000 Speaker 3: be bold and be able to hire what I think 343 00:17:18,240 --> 00:17:20,600 Speaker 3: is the best coach in the world in Pachettino. 344 00:17:21,359 --> 00:17:21,560 Speaker 2: Yeah. 345 00:17:21,600 --> 00:17:24,199 Speaker 5: You know what's interesting about that is, you know, with 346 00:17:24,320 --> 00:17:28,520 Speaker 5: Ken and some other benefactors, it might seem, you know, 347 00:17:28,640 --> 00:17:30,760 Speaker 5: out of the ordinary for them to just want to 348 00:17:30,800 --> 00:17:33,960 Speaker 5: want to help out. But with Michelle's investment specifically, and 349 00:17:34,000 --> 00:17:36,960 Speaker 5: with Arthur Blank's investment and things like that, these people 350 00:17:37,080 --> 00:17:40,919 Speaker 5: are very integral into professional soccer in the US. And 351 00:17:41,000 --> 00:17:44,399 Speaker 5: with Michelle, you know, owning multiple teams. It's not you know, 352 00:17:44,480 --> 00:17:46,960 Speaker 5: she said it this you know on CBS when she 353 00:17:47,000 --> 00:17:50,760 Speaker 5: made the announcement. This may seem like an investment in 354 00:17:50,800 --> 00:17:54,119 Speaker 5: a donation into a nonprofit, but US soccers are the 355 00:17:54,119 --> 00:17:58,280 Speaker 5: one who is developing the talent, you know, for these 356 00:17:58,320 --> 00:18:01,400 Speaker 5: professional leg So can you talk to you a little 357 00:18:01,600 --> 00:18:04,520 Speaker 5: about that, how this is going to then feed into 358 00:18:04,840 --> 00:18:07,280 Speaker 5: professionalism in the US, how it's going to make our 359 00:18:07,320 --> 00:18:09,760 Speaker 5: teams better national teams and the end of you sell 360 00:18:09,800 --> 00:18:10,920 Speaker 5: the MLS and all that. 361 00:18:12,200 --> 00:18:16,439 Speaker 3: Yeah, well, all of those professional players started somewhere and 362 00:18:16,560 --> 00:18:20,840 Speaker 3: so right, So they started in their local league. And 363 00:18:20,920 --> 00:18:22,880 Speaker 3: so I started playing when I was three years old. 364 00:18:22,960 --> 00:18:24,920 Speaker 3: I didn't make a national team until I was fourteen, 365 00:18:25,040 --> 00:18:29,320 Speaker 3: So there were many years where a young player is 366 00:18:29,359 --> 00:18:32,480 Speaker 3: developing in our ecosystem. And if we want to have 367 00:18:32,560 --> 00:18:35,720 Speaker 3: the best players in the world, and if we want 368 00:18:35,760 --> 00:18:39,560 Speaker 3: to provide the best possible environments for players to play, 369 00:18:39,600 --> 00:18:42,320 Speaker 3: whether they're going to make it onto the national team 370 00:18:42,400 --> 00:18:44,440 Speaker 3: or a pro league or not. Right, we still want 371 00:18:44,480 --> 00:18:47,119 Speaker 3: all kids to be engaged in the sport and to 372 00:18:47,160 --> 00:18:49,239 Speaker 3: have fun with it. So in order to do that, 373 00:18:49,280 --> 00:18:52,119 Speaker 3: we have to invest in the ecosystem around them, and 374 00:18:52,160 --> 00:18:55,320 Speaker 3: that is exactly what Michelle is doing. Player development is 375 00:18:55,400 --> 00:18:58,359 Speaker 3: very much a part of this, but also the professional 376 00:18:58,400 --> 00:19:03,120 Speaker 3: development of everyone around them that is literally developing these players. 377 00:19:03,160 --> 00:19:07,760 Speaker 3: And what's so great about Michelle is that she is 378 00:19:07,800 --> 00:19:11,080 Speaker 3: adamant like, this is just the start, right, I want 379 00:19:11,119 --> 00:19:13,440 Speaker 3: other people to jump on top of this. This thirty 380 00:19:13,480 --> 00:19:16,040 Speaker 3: million is great, it's going to push us along, but 381 00:19:16,119 --> 00:19:19,000 Speaker 3: she wants other people to jump in and join her 382 00:19:19,760 --> 00:19:24,679 Speaker 3: in investing in the youth landscape, investing in women and girls. 383 00:19:24,960 --> 00:19:26,760 Speaker 8: You know, City, you made such an interesting point a 384 00:19:26,760 --> 00:19:30,040 Speaker 8: few minutes ago about the ninety nine ers, and we've 385 00:19:30,080 --> 00:19:34,280 Speaker 8: spoken to Brandy Chastain and others who echo your exact 386 00:19:34,320 --> 00:19:38,240 Speaker 8: sentiment that you know, ninety nine happens, you win. It's like, okay, 387 00:19:38,280 --> 00:19:41,600 Speaker 8: here we go. Not only did it not happen then, 388 00:19:41,720 --> 00:19:44,680 Speaker 8: but there have been several failed attempts at a US 389 00:19:44,720 --> 00:19:48,879 Speaker 8: women's professional league. Does this feel different and what do 390 00:19:48,920 --> 00:19:51,960 Speaker 8: you see you know, especially you know, you played in 391 00:19:52,000 --> 00:19:58,280 Speaker 8: the WUSA, so you've seen this from all angles. What's 392 00:19:58,359 --> 00:20:02,320 Speaker 8: different this time, especially from a business perspective, that makes 393 00:20:02,359 --> 00:20:06,040 Speaker 8: you feel like this is now sustainable as a league. 394 00:20:06,440 --> 00:20:08,760 Speaker 3: Yeah, I think we've gone about it in a smart way. 395 00:20:09,040 --> 00:20:12,680 Speaker 3: I think looking back now, ninety nine was kind of 396 00:20:12,720 --> 00:20:17,320 Speaker 3: this aha moment to a lot of sports fans of like, oh, 397 00:20:17,680 --> 00:20:21,720 Speaker 3: women play sports and it's actually entertaining. But then the 398 00:20:21,760 --> 00:20:24,840 Speaker 3: tournament ended and it kind of was like there were 399 00:20:24,840 --> 00:20:29,040 Speaker 3: some increases in participation and what have you, but it 400 00:20:29,320 --> 00:20:31,600 Speaker 3: and we started the pro league that only lasted three 401 00:20:31,640 --> 00:20:33,800 Speaker 3: years in the WSA, Go Atlanta. 402 00:20:33,440 --> 00:20:36,480 Speaker 8: B Yeah, atl represent love it. 403 00:20:36,600 --> 00:20:42,640 Speaker 3: Yeah. But what we're seeing now are and we're seeing 404 00:20:42,680 --> 00:20:45,480 Speaker 3: it in multiple women's sports. It's not just soccer, but 405 00:20:45,560 --> 00:20:50,080 Speaker 3: what we're seeing specifically in soccer is investors that are 406 00:20:50,240 --> 00:20:55,840 Speaker 3: committed to the game and the people right and wanting 407 00:20:55,880 --> 00:20:59,560 Speaker 3: to really develop these people and surround these people with 408 00:20:59,680 --> 00:21:04,399 Speaker 3: great executives around them. And so we've really and the 409 00:21:04,480 --> 00:21:06,520 Speaker 3: NDBASL has done a great job of this, and then 410 00:21:06,560 --> 00:21:10,800 Speaker 3: the USL has just started a Division one professional women's 411 00:21:10,840 --> 00:21:14,840 Speaker 3: league as well, trying to provide more opportunities for women 412 00:21:14,880 --> 00:21:17,720 Speaker 3: and girls in the sports industry, and not everyone has 413 00:21:17,760 --> 00:21:20,800 Speaker 3: to play soccer right or be a great point. Yeah, 414 00:21:21,320 --> 00:21:25,600 Speaker 3: this is a whole industry. This business has so many 415 00:21:25,640 --> 00:21:28,440 Speaker 3: different types of jobs, so you don't have to be 416 00:21:28,480 --> 00:21:31,480 Speaker 3: a technical person to be in the sports industry or 417 00:21:31,520 --> 00:21:35,359 Speaker 3: the soccer industry. And so I think we've seen a 418 00:21:35,440 --> 00:21:39,760 Speaker 3: shift in that in the professionalization, the true professionalization of 419 00:21:39,800 --> 00:21:42,119 Speaker 3: the women's game, but we still have to take it 420 00:21:42,160 --> 00:21:42,920 Speaker 3: to another level. 421 00:21:43,400 --> 00:21:46,199 Speaker 4: Cydy Parlo cohone, you are the first female president of 422 00:21:46,280 --> 00:21:48,560 Speaker 4: US Soccer. So I have one question for you. What 423 00:21:48,920 --> 00:21:51,159 Speaker 4: is wrong with the men? I mean, seriously, what is 424 00:21:51,160 --> 00:21:53,040 Speaker 4: wrong with men's soccer here in the US as a 425 00:21:53,119 --> 00:21:56,160 Speaker 4: coaching Is it the lack of experience in big tournaments? 426 00:21:56,240 --> 00:21:59,080 Speaker 4: I mean, is the team you know, just in experience. 427 00:21:59,119 --> 00:22:00,800 Speaker 4: I mean, talk to us a little about if you 428 00:22:01,080 --> 00:22:03,399 Speaker 4: had your druggers about you, what would you do to 429 00:22:03,480 --> 00:22:05,640 Speaker 4: fix men's soccer here in the US. 430 00:22:05,960 --> 00:22:07,719 Speaker 3: You know, I think on the men's side, we've made 431 00:22:07,800 --> 00:22:10,879 Speaker 3: up to fun of progress and I think the hiring 432 00:22:10,920 --> 00:22:16,640 Speaker 3: of Pachettino speaks to our ambitions and what we think 433 00:22:16,680 --> 00:22:20,600 Speaker 3: our men's national team can do. And we you know, 434 00:22:20,760 --> 00:22:22,960 Speaker 3: I think part of it is we need to really 435 00:22:23,119 --> 00:22:27,800 Speaker 3: unite the whole youth system, the development system up into 436 00:22:27,920 --> 00:22:32,879 Speaker 3: the youth academies and make them have it be more connected. 437 00:22:33,840 --> 00:22:36,680 Speaker 3: We just have to continue to like we're talking about 438 00:22:36,720 --> 00:22:39,120 Speaker 3: on the women's side, it's the same thing is true 439 00:22:39,160 --> 00:22:42,000 Speaker 3: on the men's side. We have to improve the environments, 440 00:22:42,040 --> 00:22:46,640 Speaker 3: improve everyone around those players so that it's not happenstance 441 00:22:46,840 --> 00:22:49,440 Speaker 3: or just by luck that a player develops. 442 00:22:49,920 --> 00:22:52,960 Speaker 5: Yeah, and how much do you think the twenty twenty 443 00:22:52,960 --> 00:22:56,800 Speaker 5: six World Cup is going to feed into that system? 444 00:22:56,880 --> 00:23:00,000 Speaker 5: As in, do you think we are primed right now 445 00:23:00,040 --> 00:23:03,520 Speaker 5: now to develop even more until twenty twenty six or 446 00:23:03,560 --> 00:23:05,480 Speaker 5: is twenty twenty six going to be the moment where 447 00:23:05,520 --> 00:23:06,840 Speaker 5: soccer explodes here? 448 00:23:07,040 --> 00:23:10,760 Speaker 3: Well, I think World Cup twenty six will help, like 449 00:23:10,880 --> 00:23:12,440 Speaker 3: kind of put a shot in the arm. It will 450 00:23:12,560 --> 00:23:15,320 Speaker 3: change the trajectory of soccer in our country on the 451 00:23:15,320 --> 00:23:18,120 Speaker 3: men's side and the women's side. Look, I think MLS 452 00:23:18,160 --> 00:23:21,320 Speaker 3: has done a tremendous job, as has the NWSL and 453 00:23:21,400 --> 00:23:26,280 Speaker 3: the USL, so our professional leagues are thriving. Where we 454 00:23:26,359 --> 00:23:30,359 Speaker 3: need to do a better job is the development of 455 00:23:30,760 --> 00:23:35,440 Speaker 3: the players, coaches, referee professionals, the executives, in and around 456 00:23:35,480 --> 00:23:38,199 Speaker 3: the game so we can continue to develop better and 457 00:23:38,280 --> 00:23:41,320 Speaker 3: better players. One thing that I'm super excited about that 458 00:23:41,359 --> 00:23:45,919 Speaker 3: I'm very engaged on is we're under construction right now 459 00:23:46,000 --> 00:23:49,280 Speaker 3: with the Arthur M. Blank US Soccer National Training Center 460 00:23:49,480 --> 00:23:51,800 Speaker 3: in Atlanta. So I think that's going to be very 461 00:23:51,840 --> 00:23:55,919 Speaker 3: transformative for our country. It'll push our national teams to 462 00:23:56,000 --> 00:24:00,679 Speaker 3: new heights, allowing us to really build that culture, cultivate 463 00:24:00,720 --> 00:24:05,480 Speaker 3: winning teams through player development, and so many other things. 464 00:24:06,119 --> 00:24:07,800 Speaker 3: Every time I think of something that we're doing at 465 00:24:07,880 --> 00:24:10,320 Speaker 3: US Soccer, I think about how the National Training Center 466 00:24:10,400 --> 00:24:12,439 Speaker 3: is just going to have such a positive impact on 467 00:24:12,520 --> 00:24:13,560 Speaker 3: everything we're trying to do. 468 00:24:14,760 --> 00:24:17,159 Speaker 5: You know, we have this amazing World Cup coming up 469 00:24:17,160 --> 00:24:19,879 Speaker 5: in twenty twenty six, and then LA twenty twenty eight. 470 00:24:20,440 --> 00:24:24,040 Speaker 5: Feels like there was an opportunity for us to host 471 00:24:24,080 --> 00:24:26,520 Speaker 5: the twenty twenty seven World Cup. Do you think the 472 00:24:26,520 --> 00:24:28,919 Speaker 5: world would have just been sick of us? Or was 473 00:24:28,960 --> 00:24:32,360 Speaker 5: that maybe something a little bit of a missed opportunity there. 474 00:24:33,600 --> 00:24:37,399 Speaker 3: Yeah, So we decided to shift our focus from twenty 475 00:24:37,440 --> 00:24:42,199 Speaker 3: seven to thirty one because we wanted the same focus 476 00:24:42,280 --> 00:24:45,639 Speaker 3: on the Women's World Cup and thirty one as was 477 00:24:45,680 --> 00:24:48,480 Speaker 3: given to the twenty six. This given to the six 478 00:24:48,560 --> 00:24:51,800 Speaker 3: Men's World Cup, and we had real concerns that if 479 00:24:51,840 --> 00:24:54,400 Speaker 3: we were twenty six then twenty seven, that twenty seven 480 00:24:54,440 --> 00:24:57,399 Speaker 3: wouldn't be a focus until twenty six was done, and 481 00:24:57,440 --> 00:24:59,919 Speaker 3: that is not the right thing to do, and so 482 00:25:00,000 --> 00:25:03,399 Speaker 3: so we decided strategically this shift to thirty one. So 483 00:25:03,520 --> 00:25:05,840 Speaker 3: now we have this long build up like we've had 484 00:25:05,880 --> 00:25:08,480 Speaker 3: for the Men's World Cup, and so we can prepare, 485 00:25:08,560 --> 00:25:11,880 Speaker 3: the host cities can prepare, FIFA can prepare as well 486 00:25:11,920 --> 00:25:15,240 Speaker 3: as Conky Calf and really make the Women's World Cup 487 00:25:16,520 --> 00:25:18,960 Speaker 3: as great as it can be, and the players can 488 00:25:19,040 --> 00:25:23,120 Speaker 3: have equal experiences to the players of the Men's World Cup. 489 00:25:23,160 --> 00:25:26,000 Speaker 3: The fans have similar experiences as well. 490 00:25:26,240 --> 00:25:31,080 Speaker 4: Cindy Parlo Cone, President United States Soccer Federation, thank you 491 00:25:31,440 --> 00:25:33,840 Speaker 4: so much for joining us here today on the Bloomberg 492 00:25:33,880 --> 00:25:34,520 Speaker 4: Business of Sports. 493 00:25:34,560 --> 00:25:35,040 Speaker 9: We really do. 494 00:25:35,000 --> 00:25:38,200 Speaker 3: Appreciate Thank you, guys, appreciate you having me up. 495 00:25:38,240 --> 00:25:42,440 Speaker 4: Next, we welcome bet MGM CEO, Adam Green Black for 496 00:25:42,560 --> 00:25:46,080 Speaker 4: my colleague Scarlett Food, Jason Kelly, and Vanessa Prudomo. I'm 497 00:25:46,119 --> 00:25:49,760 Speaker 4: Damian Sasaur. You're listening to the Bloomberg Business of Sports 498 00:25:49,960 --> 00:25:52,560 Speaker 4: from Bloomberg Radio. Around the world. 499 00:25:56,600 --> 00:26:00,760 Speaker 2: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 500 00:26:02,600 --> 00:26:05,080 Speaker 4: Thank you for joining us on the Bloomberg Business of Sports, 501 00:26:05,119 --> 00:26:07,320 Speaker 4: where we explore the big money issues in the world 502 00:26:07,320 --> 00:26:09,880 Speaker 4: of sports. I'm Damian sas Hour along with my colleague 503 00:26:09,920 --> 00:26:14,160 Speaker 4: scarlettfu and guest host Vanessa Perdomo. Michael barr is off 504 00:26:14,200 --> 00:26:17,600 Speaker 4: this week. The sports betting landscape continues to grow and 505 00:26:17,640 --> 00:26:21,280 Speaker 4: bet MGM finds itself at the forefront. Here now to 506 00:26:21,320 --> 00:26:24,320 Speaker 4: talk to us about the sports gambling landscape here in 507 00:26:24,359 --> 00:26:28,639 Speaker 4: the US, we have bet MGM CEO Friend of the show, 508 00:26:29,000 --> 00:26:32,119 Speaker 4: Adam green Blatt. Adam, welcome back to the Bloomberg Business 509 00:26:32,119 --> 00:26:36,640 Speaker 4: of Sports. Adam, welcome to the Bloomberg Business of Sports. 510 00:26:37,000 --> 00:26:38,800 Speaker 9: Well, thank you for having me. I'm really pleased to 511 00:26:38,840 --> 00:26:39,320 Speaker 9: be here. 512 00:26:39,760 --> 00:26:41,200 Speaker 4: So Adam talked to us a little bit about the 513 00:26:41,240 --> 00:26:43,800 Speaker 4: state of sports gambling here in the US. You know, 514 00:26:43,880 --> 00:26:46,199 Speaker 4: has it been growing, what states are coming online? What 515 00:26:46,280 --> 00:26:46,840 Speaker 4: comes next? 516 00:26:47,800 --> 00:26:50,840 Speaker 6: Yes, it's been a tale of growth over the last 517 00:26:50,920 --> 00:26:54,360 Speaker 6: four or five years. Bet MGM is now in twenty 518 00:26:54,520 --> 00:26:58,000 Speaker 6: nine different states, serving over fifty percent of the US 519 00:26:58,000 --> 00:27:02,520 Speaker 6: population with some kind of sports offering. Sports betting offering. 520 00:27:02,840 --> 00:27:05,679 Speaker 6: So it really has been something to behold And as 521 00:27:05,720 --> 00:27:09,080 Speaker 6: we look to the twelve months ahead, we've got two 522 00:27:09,200 --> 00:27:14,040 Speaker 6: new states or two new jurisdictions coming. Missouri just past 523 00:27:14,200 --> 00:27:17,639 Speaker 6: enabling legislation a few weeks ago, so we're we're looking 524 00:27:17,640 --> 00:27:21,000 Speaker 6: forward to the launch of that online sports betting in 525 00:27:21,000 --> 00:27:23,480 Speaker 6: that state. And also north of the border, we have 526 00:27:23,560 --> 00:27:29,520 Speaker 6: our second province in Canada with Alberta bringing to its 527 00:27:29,600 --> 00:27:33,960 Speaker 6: players online sports betting and I gaming probably in the. 528 00:27:33,920 --> 00:27:35,440 Speaker 9: Middle of the twenty five. 529 00:27:36,520 --> 00:27:40,760 Speaker 1: So, Adam, I'm curious what you're seeing in different sports, 530 00:27:41,359 --> 00:27:44,080 Speaker 1: you know, especially the kind of volume and the interest 531 00:27:44,400 --> 00:27:47,320 Speaker 1: from betters. Why don't we start with the NBA. You know, 532 00:27:47,320 --> 00:27:50,240 Speaker 1: we're the heart of the season right now. What does 533 00:27:50,320 --> 00:27:55,240 Speaker 1: the interest look like for daily games versus high profile games? 534 00:27:55,840 --> 00:27:59,120 Speaker 6: Absolutely well, we've seen just more generally, we've seen a 535 00:27:59,160 --> 00:28:04,120 Speaker 6: significant increase in handle euron your for both pregame and 536 00:28:04,280 --> 00:28:07,200 Speaker 6: live so while the game is on betting in each 537 00:28:07,240 --> 00:28:10,159 Speaker 6: of those during the start of this season, just to 538 00:28:10,200 --> 00:28:12,680 Speaker 6: give put a number on that, we've seen a seventy 539 00:28:12,840 --> 00:28:17,480 Speaker 6: seven zero percent increase in total NBA bets EU on 540 00:28:17,520 --> 00:28:20,080 Speaker 6: Your And what's also interesting this year is that there 541 00:28:20,119 --> 00:28:23,200 Speaker 6: is extra interest in the NBA Cup games, so we 542 00:28:23,240 --> 00:28:27,880 Speaker 6: see a spike in activity on Tuesdays and Thursdays so far, 543 00:28:28,320 --> 00:28:32,200 Speaker 6: and of course b The other interesting trend I think 544 00:28:32,280 --> 00:28:35,680 Speaker 6: is the continued growth and popularity. 545 00:28:35,000 --> 00:28:36,280 Speaker 9: Of player props. 546 00:28:36,840 --> 00:28:40,000 Speaker 6: You know, the NBA does a great job in marketing 547 00:28:40,040 --> 00:28:44,760 Speaker 6: their players, which drives a decent percentage of interest and 548 00:28:45,120 --> 00:28:48,719 Speaker 6: betting action, and so we're seeing a lot of bets. 549 00:28:48,720 --> 00:28:52,440 Speaker 6: For example, player prop bets on Jason Tatum quollowed by 550 00:28:52,440 --> 00:28:53,680 Speaker 6: Donovan Mitchell. 551 00:28:53,840 --> 00:28:56,080 Speaker 5: Adam, you know, when you were talking, I was hoping 552 00:28:56,080 --> 00:28:57,600 Speaker 5: that you were going to say, you know, we're seeing 553 00:28:57,600 --> 00:28:59,720 Speaker 5: a lot of growth, and the biggest one is in 554 00:28:59,760 --> 00:29:00,520 Speaker 5: women in sports. 555 00:29:00,560 --> 00:29:03,200 Speaker 7: You know, so I love that, but so I am curious. 556 00:29:03,280 --> 00:29:05,840 Speaker 5: You know what you've seen this year with the uptick 557 00:29:05,960 --> 00:29:10,360 Speaker 5: in popularity of women's sports, particularly in women's basketball. Would 558 00:29:10,400 --> 00:29:12,360 Speaker 5: you say it's one of the you know, the biggest 559 00:29:12,360 --> 00:29:14,680 Speaker 5: growth areas for the sports betting market. 560 00:29:15,720 --> 00:29:16,959 Speaker 9: It's it certainly is. 561 00:29:17,360 --> 00:29:19,360 Speaker 6: But last year we're coming off the back of a 562 00:29:19,400 --> 00:29:25,000 Speaker 6: season where we saw the unprecedented Caitlin Clark effect, and 563 00:29:25,360 --> 00:29:31,520 Speaker 6: so NCAA women's basketball has just been exploded and we're 564 00:29:31,520 --> 00:29:32,360 Speaker 6: seeing two factors. 565 00:29:32,400 --> 00:29:33,440 Speaker 9: Actually, we're seeing. 566 00:29:33,760 --> 00:29:37,960 Speaker 6: More men following women's games and betting on women's games. 567 00:29:37,960 --> 00:29:41,920 Speaker 9: So there's more male interest in women's sports. But on 568 00:29:42,000 --> 00:29:43,080 Speaker 9: top of that, and this. 569 00:29:43,160 --> 00:29:46,800 Speaker 6: Is the also exciting part, we are seeing more women 570 00:29:46,960 --> 00:29:50,880 Speaker 6: participation in sports betting following women's games. 571 00:29:52,560 --> 00:29:52,760 Speaker 2: You know. 572 00:29:52,840 --> 00:29:56,320 Speaker 6: The success this year of Paige because Yukon Huskies is. 573 00:29:56,560 --> 00:30:00,000 Speaker 9: A is another draw cross sports. 574 00:30:00,000 --> 00:30:05,880 Speaker 6: However, the Taylor Swift effect is also gathering more women 575 00:30:05,960 --> 00:30:09,000 Speaker 6: into interest in live sports, and that that cuts across 576 00:30:09,040 --> 00:30:12,640 Speaker 6: both obviously NFL and the NBA and the college game. 577 00:30:12,880 --> 00:30:14,480 Speaker 9: So we're seeing, just to put. 578 00:30:14,280 --> 00:30:18,160 Speaker 6: A number on this, one hundred and thirteen percent increase 579 00:30:18,280 --> 00:30:21,360 Speaker 6: in betting euro over here in the WNBA. 580 00:30:22,280 --> 00:30:22,600 Speaker 2: Wow. 581 00:30:22,800 --> 00:30:26,280 Speaker 4: Wow, Adam, Well, look you're you're you're you're free from 582 00:30:26,320 --> 00:30:27,880 Speaker 4: South Africa, so I can speak to you, you know, 583 00:30:28,280 --> 00:30:30,920 Speaker 4: very openly here Alberta, Canada. I mean, come on, how 584 00:30:30,960 --> 00:30:32,680 Speaker 4: many people are going to be gambling on the Edmonton 585 00:30:32,720 --> 00:30:35,280 Speaker 4: Oilers and Calgary Flames. I mean, I understand the Saint 586 00:30:35,280 --> 00:30:37,720 Speaker 4: Louis Blues and Cardinals, I get it. I understand Missouri 587 00:30:37,800 --> 00:30:40,680 Speaker 4: coming online, but like Canada, I mean, come on, talk 588 00:30:40,720 --> 00:30:43,680 Speaker 4: to us a little bit about how Canadians gamble on sports. 589 00:30:44,480 --> 00:30:49,480 Speaker 6: Well, well, Berenham Gym is particularly well situated. You know, 590 00:30:49,520 --> 00:30:56,640 Speaker 6: we've long been supportive of the all time greats in 591 00:30:57,000 --> 00:30:59,680 Speaker 6: the world of hockey of Wayne Gretzky, who is. 592 00:31:01,160 --> 00:31:06,520 Speaker 9: More more popular than Coca Cola, and of course Conen 593 00:31:06,640 --> 00:31:10,560 Speaker 9: McDavid is also a partner, so. 594 00:31:10,760 --> 00:31:15,720 Speaker 6: You know, we've been particularly we've penetrated the Canadian market 595 00:31:15,800 --> 00:31:19,560 Speaker 6: particularly well. We think in aggregate we bet and GYM 596 00:31:19,600 --> 00:31:22,480 Speaker 6: are the market leaders across ie gaming and sports. 597 00:31:23,080 --> 00:31:25,080 Speaker 9: And what's also been. 598 00:31:26,360 --> 00:31:30,240 Speaker 6: Very impactful on the sports business is the ability to 599 00:31:30,240 --> 00:31:31,320 Speaker 6: cross sell from gaming. 600 00:31:31,720 --> 00:31:33,400 Speaker 9: We've been betm gem is. 601 00:31:33,400 --> 00:31:37,240 Speaker 6: The biggest ie gaming brand and we see a very 602 00:31:37,400 --> 00:31:41,400 Speaker 6: healthy level of cross sell between sports and gaming in 603 00:31:41,440 --> 00:31:45,280 Speaker 6: both directions. Actually, so the two do support each other 604 00:31:45,840 --> 00:31:48,880 Speaker 6: and we see really good betting interests. 605 00:31:48,920 --> 00:31:50,600 Speaker 9: Obviously the sports. 606 00:31:50,240 --> 00:31:54,360 Speaker 6: Bias north of the border is different, but we do 607 00:31:54,440 --> 00:31:57,400 Speaker 6: see very strong interest in both sports and I gain. 608 00:31:57,880 --> 00:31:59,640 Speaker 1: I mean, there's going to be interest in betting on 609 00:31:59,680 --> 00:32:03,440 Speaker 1: sports whether you're in Canada, South Africa or the US. 610 00:32:03,840 --> 00:32:05,800 Speaker 1: The thing is there's so many different ways to do 611 00:32:05,840 --> 00:32:08,360 Speaker 1: it right. You don't have to do that MGM. You 612 00:32:08,400 --> 00:32:10,200 Speaker 1: could do DraftKings, you could do a fan duel. 613 00:32:10,360 --> 00:32:11,920 Speaker 4: I mean, talk to us a little bit about that. 614 00:32:12,000 --> 00:32:13,800 Speaker 4: I mean, like, you know, where is the growth in 615 00:32:13,840 --> 00:32:16,240 Speaker 4: sports gambling. I mean, has it really kind of come 616 00:32:16,240 --> 00:32:17,680 Speaker 4: over that hurdle? Has it been exhausted? 617 00:32:17,880 --> 00:32:19,120 Speaker 9: The industry is growing up. 618 00:32:19,600 --> 00:32:23,160 Speaker 6: We're seeing an expansion of bet types and sports betting 619 00:32:23,200 --> 00:32:26,880 Speaker 6: really has gone beyond the traditional Vegas six pack of 620 00:32:27,200 --> 00:32:29,720 Speaker 6: money line spreads and totals. 621 00:32:29,880 --> 00:32:31,400 Speaker 9: You know, what we're seeing now is. 622 00:32:31,360 --> 00:32:38,200 Speaker 6: That immense growth, really exciting growth of the world of parlays, 623 00:32:39,400 --> 00:32:44,760 Speaker 6: the growth of player crops, crops. Generally, live betting is 624 00:32:45,320 --> 00:32:48,120 Speaker 6: on the up in all of our major sports, and frankly, 625 00:32:48,520 --> 00:32:52,120 Speaker 6: US sports lend themselves to live betting more than most 626 00:32:52,400 --> 00:32:56,440 Speaker 6: given the stop start nature of the sports themselves. The 627 00:32:56,480 --> 00:32:58,400 Speaker 6: other one of the other trends that we've talked about 628 00:32:58,400 --> 00:33:03,120 Speaker 6: the growth of in interest in women's sports, but the 629 00:33:03,160 --> 00:33:09,680 Speaker 6: growth of the first markets like first touchdown, first drive props. 630 00:33:10,280 --> 00:33:13,360 Speaker 6: We are seeing well over one hundred percent growth of 631 00:33:13,840 --> 00:33:15,440 Speaker 6: take up of those kinds of bets. 632 00:33:15,920 --> 00:33:18,080 Speaker 9: You're on you And the last thing I would point 633 00:33:18,120 --> 00:33:19,160 Speaker 9: out is is this. 634 00:33:20,680 --> 00:33:24,920 Speaker 6: The synthesis the integration of the world of sports betting 635 00:33:25,360 --> 00:33:30,560 Speaker 6: and the world of social conversation and the narrative around sports. 636 00:33:31,040 --> 00:33:34,840 Speaker 6: You may be aware that BETNGM was the first of 637 00:33:34,880 --> 00:33:37,680 Speaker 6: its kind to form a partnership which with one of 638 00:33:37,680 --> 00:33:39,240 Speaker 6: the big social media companies. 639 00:33:39,720 --> 00:33:43,160 Speaker 9: We are partners with X and X has just. 640 00:33:43,200 --> 00:33:47,560 Speaker 6: Frankly launched its NFL portal and we are the exclusive 641 00:33:47,680 --> 00:33:50,440 Speaker 6: odds provider of that portal. So if you're in if 642 00:33:50,440 --> 00:33:53,800 Speaker 6: you're in a state where sports betting is allowed, you 643 00:33:53,880 --> 00:33:58,840 Speaker 6: get onto X's NFL portal and there's a live link 644 00:33:59,760 --> 00:34:02,040 Speaker 6: to to bed and gin and our six peck odds 645 00:34:02,040 --> 00:34:05,360 Speaker 6: on display. So the integration of the world of social 646 00:34:05,400 --> 00:34:07,240 Speaker 6: and the world of sports bedding, the world of media 647 00:34:07,520 --> 00:34:09,960 Speaker 6: and sports bedding is really coming to life in. 648 00:34:10,239 --> 00:34:10,719 Speaker 9: A real way. 649 00:34:10,760 --> 00:34:13,440 Speaker 5: We're seeing, you know, the Black Friday games that they 650 00:34:13,440 --> 00:34:17,080 Speaker 5: were on Amazon and when you see those things like 651 00:34:17,120 --> 00:34:20,040 Speaker 5: on streaming platforms, does that differ for you at all? 652 00:34:20,560 --> 00:34:23,280 Speaker 7: And when they're on streaming platforms and when they're on. 653 00:34:23,160 --> 00:34:26,880 Speaker 5: You know, regular you know networks, is that different for 654 00:34:26,880 --> 00:34:27,480 Speaker 5: you guys at all. 655 00:34:28,640 --> 00:34:33,160 Speaker 6: Well, we've seen the most relevant recent use cases the 656 00:34:33,160 --> 00:34:37,200 Speaker 6: Thursday Night game in the NFL, and what we're seeing 657 00:34:37,280 --> 00:34:42,080 Speaker 6: is viewership is down on you from broadcast to streaming. 658 00:34:42,480 --> 00:34:46,880 Speaker 9: But on the streaming service, we're also seeing viewership grow 659 00:34:47,239 --> 00:34:50,719 Speaker 9: from its current base. So I think this was the. 660 00:34:52,239 --> 00:34:53,800 Speaker 6: Question, of course for all of us, is well, what 661 00:34:54,520 --> 00:34:57,080 Speaker 6: we understand that there's been a step back as the 662 00:34:57,120 --> 00:35:04,040 Speaker 6: shift from from cable to the cutting the cord process continues. 663 00:35:04,719 --> 00:35:07,960 Speaker 6: The question is at what point does when's the tipping 664 00:35:08,000 --> 00:35:09,919 Speaker 6: point and where is the tipping point? We haven't seen 665 00:35:09,960 --> 00:35:13,960 Speaker 6: that yet, but based on the projections of current growth 666 00:35:14,040 --> 00:35:18,640 Speaker 6: in viewership fandom, we think the move to streaming will 667 00:35:18,680 --> 00:35:23,000 Speaker 6: ultimately maybe one year, two years be better, certainly for 668 00:35:23,040 --> 00:35:25,120 Speaker 6: our business and for viewership more generally. 669 00:35:25,200 --> 00:35:28,040 Speaker 5: We've talked a lot about growth here and i'd love 670 00:35:28,080 --> 00:35:30,879 Speaker 5: to see, you know, hear your take on Obviously, now 671 00:35:30,920 --> 00:35:33,959 Speaker 5: it's about five six years into sports betting being legal 672 00:35:34,000 --> 00:35:37,120 Speaker 5: in the US, and it's so it's not really new anymore. 673 00:35:37,200 --> 00:35:40,600 Speaker 5: So how do you get new subscribers, new people to 674 00:35:40,960 --> 00:35:43,520 Speaker 5: engage with the platform now that it's kind of been 675 00:35:43,560 --> 00:35:46,360 Speaker 5: out there, you'd think everyone who is interested would be 676 00:35:46,440 --> 00:35:49,000 Speaker 5: on you know that MGM already. 677 00:35:50,480 --> 00:35:50,719 Speaker 9: So. 678 00:35:52,200 --> 00:35:54,359 Speaker 6: It has been around for a little while, for more 679 00:35:54,360 --> 00:35:56,680 Speaker 6: than a little while now, So I agree with the 680 00:35:56,719 --> 00:36:01,360 Speaker 6: premise that you know, those keen beings who have spontaneous 681 00:36:01,400 --> 00:36:07,919 Speaker 6: interest are participating. I see that as wave one Wave two, 682 00:36:08,120 --> 00:36:12,080 Speaker 6: and that there are two big populations which exist today 683 00:36:12,600 --> 00:36:16,920 Speaker 6: that represent further growth, further deepening of potential penetration of 684 00:36:16,960 --> 00:36:19,920 Speaker 6: the industry and for bet MGM as part of that. 685 00:36:20,600 --> 00:36:24,600 Speaker 6: The first is those that participate in the illegal market. 686 00:36:25,680 --> 00:36:30,600 Speaker 6: There's still a big offshore market, which frankly is just 687 00:36:30,920 --> 00:36:33,000 Speaker 6: a continuation. 688 00:36:33,080 --> 00:36:39,520 Speaker 9: And of what came before regulated and regulated sports betting. 689 00:36:40,280 --> 00:36:43,920 Speaker 6: You know, those that had their person that they you know, 690 00:36:44,000 --> 00:36:46,600 Speaker 6: that call up ahead of the weekend and get a 691 00:36:46,600 --> 00:36:47,600 Speaker 6: line and have a bet. 692 00:36:47,920 --> 00:36:51,240 Speaker 9: That still goes on, and it goes on, we understand 693 00:36:51,280 --> 00:36:51,880 Speaker 9: at scale. 694 00:36:52,200 --> 00:36:54,920 Speaker 6: The other thing to which sign posts this point that 695 00:36:55,000 --> 00:36:59,160 Speaker 6: I'm making is the search interest in illegal operators ahead 696 00:36:59,160 --> 00:37:01,160 Speaker 6: of ten pole events. So you get up to the 697 00:37:01,560 --> 00:37:04,400 Speaker 6: if you track Google searchers and I won't name the 698 00:37:04,480 --> 00:37:09,160 Speaker 6: names Google searchers for those unregulated operators, that they are 699 00:37:09,200 --> 00:37:10,880 Speaker 6: still search at scale. 700 00:37:12,560 --> 00:37:13,200 Speaker 9: Search volume. 701 00:37:13,280 --> 00:37:15,960 Speaker 6: So really for all of us, one of the challenges 702 00:37:16,000 --> 00:37:20,120 Speaker 6: and opportunities is bringing that offshore business on shore, which 703 00:37:20,160 --> 00:37:23,640 Speaker 6: protects consumers, which raise US tax revenue. It's just an 704 00:37:23,640 --> 00:37:27,719 Speaker 6: all around good thing. So that's the one population. 705 00:37:28,239 --> 00:37:32,879 Speaker 9: The other population is everybody else, and I know that's 706 00:37:32,880 --> 00:37:34,080 Speaker 9: a ridiculous thing to say. 707 00:37:34,200 --> 00:37:36,359 Speaker 10: But what we saw in if you look at other 708 00:37:36,480 --> 00:37:42,360 Speaker 10: international markets that are significantly more mature than the US 709 00:37:42,480 --> 00:37:45,840 Speaker 10: is what we see is for many, many years. 710 00:37:45,840 --> 00:37:50,359 Speaker 6: After the regulation of the market of the ability to participate, 711 00:37:50,719 --> 00:37:53,440 Speaker 6: we see double digit growth here on you for many. 712 00:37:53,520 --> 00:37:54,440 Speaker 9: Ten years plus. 713 00:37:55,440 --> 00:37:58,920 Speaker 6: And the one of the drivers for that is more 714 00:37:59,280 --> 00:38:03,080 Speaker 6: participation of those who enjoy it. And the other driver 715 00:38:03,160 --> 00:38:05,800 Speaker 6: is the answer to your question now, the other driver 716 00:38:06,040 --> 00:38:08,600 Speaker 6: is it becomes really just part of the leisure basket 717 00:38:08,640 --> 00:38:09,960 Speaker 6: for a broader population. 718 00:38:10,239 --> 00:38:12,680 Speaker 1: All right, Adam, really appreciate your joining us today. Adam 719 00:38:12,719 --> 00:38:15,360 Speaker 1: Greenblatt is CEO of bet MGM. 720 00:38:15,239 --> 00:38:17,400 Speaker 4: And that does it for this edition of the Bloomberg 721 00:38:17,440 --> 00:38:19,919 Speaker 4: Business of Sports. If you missed any of our conversations, 722 00:38:20,160 --> 00:38:22,360 Speaker 4: please listen on demand now with the Bloomberg Business of 723 00:38:22,400 --> 00:38:26,719 Speaker 4: Sports podcast. Find that on Apple, Spotify and all your 724 00:38:26,800 --> 00:38:30,680 Speaker 4: favorite podcast platforms. For Scarlett fu and Vanessa Perdomo, I 725 00:38:30,719 --> 00:38:33,960 Speaker 4: am Damien sas Hour. Thank you for joining us. Tune 726 00:38:33,960 --> 00:38:36,120 Speaker 4: in again next week for the latest on the stories 727 00:38:36,160 --> 00:38:39,560 Speaker 4: moving big money in the world of sports. You're listening 728 00:38:39,640 --> 00:38:43,920 Speaker 4: to Bloomberg Business of Sports from Bloomberg Radio around the world.