WEBVTT - BetMGM CEO Adam Greenblatt; Amazon's Big NFL Bet 

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>This is Bloomberg Business of Sports. Business of Sports can

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<v Speaker 2>be intimidating for hard for a start to break into.

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<v Speaker 3>We really appreciate when our owners are actually there, you know,

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<v Speaker 3>with us through the journey.

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<v Speaker 1>Teams ours especially have been very intentional to diversify at

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<v Speaker 1>all levels of the company.

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<v Speaker 4>I think we're in the golden gears for the NFL

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<v Speaker 4>and college football.

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<v Speaker 3>Our demographic reach has continued to expand. This is going

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<v Speaker 3>to be really unlocking the streaming platform for sports fans.

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<v Speaker 4>Sports valuations are rising, We'll see when they peak.

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<v Speaker 5>You don't have to be the best in your sports

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<v Speaker 5>to make a whole ton of money.

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<v Speaker 4>Bloomberg Business of Sports from Bloomberg Radio.

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<v Speaker 1>This is the Bloomberg Business of Sports where we explore

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<v Speaker 1>the big money issues in the world of sports. I'm

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<v Speaker 1>Scarlett Foo along with Damian Sasaur and special guest hosts

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<v Speaker 1>Bloomberg Originals, Sports Course, Want, Vanessa Perdomo, Michael barr Is

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<v Speaker 1>Off this week and later Boomberg Originals. She of course Wonded.

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<v Speaker 1>Jason Kelly will be joining.

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<v Speaker 4>Us coming up on the show. We'll hear from the

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<v Speaker 4>CEO of Bet MGM Adam Greenblatt right as we hit

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<v Speaker 4>the home stretch of the NFL season.

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<v Speaker 6>It's been a tailor of growth over the last four

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<v Speaker 6>or five years. Benm GM is now in twenty nine

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<v Speaker 6>different states, serving over fifty percent of the US population

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<v Speaker 6>with some kind of sports offering, sports betting offering.

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<v Speaker 1>Plus we'll talk you as soccer with Cindy Parlo Cone.

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<v Speaker 1>She's president of the United States Soccer Federation.

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<v Speaker 3>What we're seeing specifically in soccer is investors that are

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<v Speaker 3>committed to the game and the people right and wanting

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<v Speaker 3>to really develop these people and surround these people with

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<v Speaker 3>great executives around them.

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<v Speaker 1>That conversation and more on the way on the Bloomberg

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<v Speaker 1>business of sports. But first, big tech companies have been

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<v Speaker 1>leaning into carrying more live sports on their platforms, none

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<v Speaker 1>more so than Amazon Prime. Prime has carried the NFL's

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<v Speaker 1>Thursday Night and even carried games on Black Friday.

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<v Speaker 5>Amazon believes leaning into live sports will get more people

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<v Speaker 5>into their ecosystem, and it is putting its money where

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<v Speaker 5>its mouth is. Right now, Amazon is outspending the rest

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<v Speaker 5>of big tech with live sports, adding NBA games next season,

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<v Speaker 5>WNBA games, Women's soccer NASCAR and more. That's on top

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<v Speaker 5>of this huge deal with the NFL.

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<v Speaker 4>For more on Amazon's live sports plans and how it

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<v Speaker 4>helps the retailer's bottom line, we welcome Bloomberg News Global

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<v Speaker 4>Business Editor Matt Townsend. Matt, Welcome to the Bloomberg Business

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<v Speaker 4>of Sports.

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<v Speaker 2>Hey, thanks for having me, Matt.

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<v Speaker 5>Amazon paid one hundred million dollars for the Black Friday Game,

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<v Speaker 5>They pay a billion dollars annually for Thursday Night Football,

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<v Speaker 5>and their new NBA contract is worth nineteen billion dollars.

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<v Speaker 5>How long can they keep spending like this before they

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<v Speaker 5>need to raise the cost of prime?

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<v Speaker 2>Good question. I mean the story with prime has always

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<v Speaker 2>been that it is heavily subjudized and then you're getting

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<v Speaker 2>way more than what you pay for it. I think

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<v Speaker 2>it's like one hundred and thirty nine dollars now, I

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<v Speaker 2>mean the but uh, you know, Ara Budue wrote wrote

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<v Speaker 2>a story about this, and you know what he gets

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<v Speaker 2>into in the story is that there's a question mark

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<v Speaker 2>about you know, is Amazon really making any money off this?

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<v Speaker 2>Like what is the return on all this investment in sports?

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<v Speaker 2>Obviously they're not coming out and saying giving us all

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<v Speaker 2>the details, but you know, they do put ads around

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<v Speaker 2>these games, you know, TV ads where they have some

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<v Speaker 2>advertising business. They obviously get people to sign up for stuff,

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<v Speaker 2>and they're doing all these things with QR code. There

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<v Speaker 2>was all these prompts to hold up your phone to

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<v Speaker 2>the screen and to do this QR code.

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<v Speaker 4>So yeah, you know that, Matt, let me jump in here,

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<v Speaker 4>because that is everywhere, right, these QR codes along the

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<v Speaker 4>border of yours, of any tell I mean I was

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<v Speaker 4>on all week and long. You know, is that is

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<v Speaker 4>that something that's working? Do you have any information on that?

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<v Speaker 2>I think I wrote in his story that you know

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<v Speaker 2>it was somewhat successful. I mean it wasn't you know.

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<v Speaker 2>They do that a lot with with their prime content.

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<v Speaker 2>So I think it is, you know, a behavior that

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<v Speaker 2>people are starting to do more and more as just consumers,

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<v Speaker 2>you know, putting up their phone to the TV or

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<v Speaker 2>whatever screen they're watching and scanning that QR code. Again,

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<v Speaker 2>my currer codes have been around for a long time,

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<v Speaker 2>so it's it's kind of funny that that's like the

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<v Speaker 2>big strategy for a lot of these companies to get

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<v Speaker 2>you to shop while you're watching TV. But yeah, it

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<v Speaker 2>mains me seem like, how how far amant that will

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<v Speaker 2>go with this, you know, and how much of a

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<v Speaker 2>return they're getting given that they're putting more money into it,

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<v Speaker 2>they like necessarily signed this big NBA deal, You would

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<v Speaker 2>think that they are seeing returns. They do see it

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<v Speaker 2>as a way to bring people into the ecosystem. So yeah,

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<v Speaker 2>I think I think more of the same is probably

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<v Speaker 2>to come from.

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<v Speaker 3>Them, Matt.

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<v Speaker 1>I also want to bring in another story that your

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<v Speaker 1>team has been covering, and that is the sale of

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<v Speaker 1>the Boston Celtics. We know that it's up for sale,

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<v Speaker 1>and now it turns out that some Middle East sovereign

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<v Speaker 1>wealth funds are potential buyers. They've been kind of kicking

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<v Speaker 1>the tires.

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<v Speaker 2>Yes, we reported this week that the principle owner of

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<v Speaker 2>the of the of the Celtics was over in Abu Dhabi.

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<v Speaker 2>It's part of the NBA's annual trip over there in

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<v Speaker 2>the preseason. The Celtics plays some preseason games, and we

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<v Speaker 2>reported that Celtics owners have met with one of the

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<v Speaker 2>sovereign wealth funds over there, and this would be only

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<v Speaker 2>to buy a passive sort of small stake in the

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<v Speaker 2>in the in the in the club. But you know,

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<v Speaker 2>more and more Middle Eastern sovereign wealth funds are sort

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<v Speaker 2>of the investors of last resort for a lot of

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<v Speaker 2>sports franchises because it is so much money. So it

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<v Speaker 2>remains to be seen whether this this specific sovereign wealth

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<v Speaker 2>fund will invest in in the Celtics. We had some

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<v Speaker 2>reporting that, you know, these sovereign wealth funds are kind

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<v Speaker 2>of tired of putting in, you know, getting small passive stakes.

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<v Speaker 2>They want to they want some say in management. They'd

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<v Speaker 2>like to try to own, you know, us sports franchises.

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<v Speaker 2>The leagues at this point aren't allowing that. So the

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<v Speaker 2>NBA is one of the few leagues right now allows

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<v Speaker 2>even some love fund to take a small stake. So

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<v Speaker 2>but it gets that's sort of the push over to

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<v Speaker 2>the Middle East. The NBA is doing more of this.

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<v Speaker 2>They're trying to expand internationally and then Release is one

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<v Speaker 2>of the markets where they think they have a lot

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<v Speaker 2>of potential.

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<v Speaker 7>And in that market.

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<v Speaker 5>It's interesting obviously Jake and Giles's story they kind of

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<v Speaker 5>talk about how the NBA is planning on expanding there

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<v Speaker 5>more and looking at the idea of you know, putting

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<v Speaker 5>in an office there potentially, which they do have a

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<v Speaker 5>lot of international offices.

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<v Speaker 7>Obviously, to grow, you know, their footprint.

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<v Speaker 5>But do you think that they're looking at this as

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<v Speaker 5>a way into getting those sovereign deals done, do you

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<v Speaker 5>think or.

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<v Speaker 7>Is it just they actually see a market there in

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<v Speaker 7>the fandom.

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<v Speaker 2>Yeah, I think it's probably a little of both. I think.

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<v Speaker 2>I mean, they definitely are courting some wealth funds. You know,

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<v Speaker 2>they have deep pockets. They want to they'd love to

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<v Speaker 2>get them into ownership. But also, you know, the NBA

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<v Speaker 2>wants to keep expanding internationally, and there's a lot of

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<v Speaker 2>talk about will they just put a team overseas somewhere,

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<v Speaker 2>whether it's in North America or maybe they'll do something

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<v Speaker 2>with with Europe, sort of creating a league over there

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<v Speaker 2>that's connected to the NBA in some way. The NBA

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<v Speaker 2>was one that was basically, you know, the first big

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<v Speaker 2>pro league to really go international. They pushed and they

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<v Speaker 2>have tons of international fans, and then you know they're

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<v Speaker 2>they're seeing right on the wall that they need to

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<v Speaker 2>do more of this to really keep growing the fan base.

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<v Speaker 2>They can't just rely on North America anymore.

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<v Speaker 4>So, you know, I find it very I mean, I

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<v Speaker 4>have to say, Matt, you know, Wick Grosspick, the principal

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<v Speaker 4>owner of the Celtics is a friend of the show.

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<v Speaker 4>You know, he was just on a few weeks of

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<v Speaker 4>back and you know, I know the guys that move

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<v Speaker 4>Battala and I'm just surprised he didn't, you know, break

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<v Speaker 4>that to us, Scarlett. I'm a little bit disappointed with

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<v Speaker 4>him for that. And you know, look, I mean I

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<v Speaker 4>know what Scarlett really wants to know. She wants to

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<v Speaker 4>know up the Nixer for salth. So talk to me

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<v Speaker 4>about what is going on with James Dolan, his relationships

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<v Speaker 4>with the Middle East. You know that Sphere Entertainment's got,

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<v Speaker 4>you know, you know, I think they're building one in

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<v Speaker 4>Amudabi now another sphere, and you know, talk to us

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<v Speaker 4>a little bit about you know, what Middle Eastern money

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<v Speaker 4>means to the New York Knickerbockers.

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<v Speaker 2>Yeah again, I mean, you know, for those of us

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<v Speaker 2>who followed James Dolan's career, it doesn't seem feasible that

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<v Speaker 2>he's going to want to sell a controlling stake in

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<v Speaker 2>the next to someone else. But look that they're looking

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<v Speaker 2>for more money to do, you know, more things with

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<v Speaker 2>the franchise. And you know, Dolan's a smart business business person,

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<v Speaker 2>so he's he's already has connections to the Middle East,

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<v Speaker 2>so it makes sense that you know, they're kicking the

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<v Speaker 2>tires on bringing in uh, you know, some milliaster investors.

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<v Speaker 2>But I don't. I don't think Knicks fans, whether you

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<v Speaker 2>like James Doan or not, should expect any sort of

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<v Speaker 2>change in control with the mix. For sure, they're looking

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<v Speaker 2>just to raise some more money and have some more

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<v Speaker 2>cash in their pocket to do certain things.

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<v Speaker 5>So the other story that we're looking at that Randal

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<v Speaker 5>put out this week was about Oklahoma City and Russell Westbrook,

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<v Speaker 5>you know, investing into their downtown, but it also has you.

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<v Speaker 7>Know, potential.

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<v Speaker 5>They're building a new stadium, but it's for the Oklahoma

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<v Speaker 5>City Energy FC, which is a second tier you know

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<v Speaker 5>men's soccer team. Talk to us about that, and you

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<v Speaker 5>know what it really says about, I guess investing in

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<v Speaker 5>more so of the entertainment sphere, right because it seems

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<v Speaker 5>like it the soccer play isn't what's going to make

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<v Speaker 5>the most money here.

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<v Speaker 2>Yeah, So there's you're right, there's this movement, this trend

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<v Speaker 2>where you know, especially city centers or downtowns are looking

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<v Speaker 2>at their development, you know, whether they have stadiums or

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<v Speaker 2>arenas and basically, you know, figuring out ways to get

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<v Speaker 2>more tax dollars coming from those areas. So they're trying

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<v Speaker 2>to build sort of entertainment destinations. And we've seen these

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<v Speaker 2>in other markets where it's not just a stadium in

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<v Speaker 2>a parking lot anymore. It's a stadium with you know,

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<v Speaker 2>tons of restaurants and bars and other little venues maybe

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<v Speaker 2>where you can have concerts and sort of you know,

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<v Speaker 2>just make it more of a year round destination. And

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<v Speaker 2>that's what's happened here in Oklahoma City. There's this open

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<v Speaker 2>land near the Convention Center, near the NBA Arena and

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<v Speaker 2>Wes Russell Welsbrook and this investment from our partnering with

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<v Speaker 2>with the city to build this soccer stadium which would

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<v Speaker 2>be multi use and have you know, it could be

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<v Speaker 2>a concert venue as well or other events, and then

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<v Speaker 2>build restaurants and retail and some community spaces around it

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<v Speaker 2>to make it more of a destination year round, like

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<v Speaker 2>I was saying. So that's it's kind of in line

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<v Speaker 2>with the trend we're seeing across sports where they want

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<v Speaker 2>more than just to stay in a parking lot. That's

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<v Speaker 2>kind of the old way of thinking about how you

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<v Speaker 2>develop the area around a stadium on arena.

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<v Speaker 1>All right, Matt Townsend, thank you so much for joining us.

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<v Speaker 1>Matt Townsend is Bloomberg's Global business editor for sports.

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<v Speaker 4>Coming up on the show, we're going to pivot to

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<v Speaker 4>soccer and talk with US Soccer President Cidy Parlow Cone.

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<v Speaker 3>But before we get there.

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<v Speaker 4>Vanessa, you have been following all the NWILL action this year.

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<v Speaker 4>Tell us about Kansas City, tell us about the growth

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<v Speaker 4>of women's soft and tell us about your weekend.

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<v Speaker 3>Yeah.

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<v Speaker 5>So I was in Kansas City last week for the

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<v Speaker 5>championship game between the Orlando Pride and the Washington Spirit,

0:11:14.559 --> 0:11:17.640
<v Speaker 5>and you know, the Pride ended up taking it won nothing.

0:11:18.080 --> 0:11:21.000
<v Speaker 5>It was quite an exciting game, even though it doesn't

0:11:21.040 --> 0:11:23.720
<v Speaker 5>sound like it, you know, it just is. You know,

0:11:23.760 --> 0:11:27.920
<v Speaker 5>when you're there in the stadium, the vibe was really high,

0:11:28.080 --> 0:11:31.680
<v Speaker 5>even though you know, surprisingly it wasn't a full stadium.

0:11:31.720 --> 0:11:32.400
<v Speaker 7>I guess you can.

0:11:32.240 --> 0:11:36.400
<v Speaker 5>Say surprisingly or not surprisingly it was technically sold out.

0:11:36.880 --> 0:11:38.000
<v Speaker 3>But Damian, here's the thing.

0:11:38.760 --> 0:11:42.560
<v Speaker 5>The nws CEL hosts their championship games at neutral sites.

0:11:43.040 --> 0:11:45.920
<v Speaker 5>So the problem is Orlando Pride in Washington Spirit. They

0:11:45.960 --> 0:11:49.280
<v Speaker 5>advanced in the semi finals one week before the Championship,

0:11:49.920 --> 0:11:52.160
<v Speaker 5>so fans really only had one week to get there

0:11:52.480 --> 0:11:55.480
<v Speaker 5>in Kansas City, not the biggest airport in the world.

0:11:55.600 --> 0:11:57.200
<v Speaker 7>You know, not the easiest place to get to.

0:11:57.440 --> 0:12:00.960
<v Speaker 5>So there was a decent turnout, but not as many

0:12:01.000 --> 0:12:03.960
<v Speaker 5>fans as I'm sure they would like. And the Kansas

0:12:03.960 --> 0:12:07.200
<v Speaker 5>City fans who bought tickets, you know, thinking their team

0:12:07.200 --> 0:12:09.120
<v Speaker 5>would be in the final because they made it to

0:12:09.120 --> 0:12:12.120
<v Speaker 5>the semifinals and they had an incredible year. They didn't

0:12:12.200 --> 0:12:13.800
<v Speaker 5>end up a lot of them didn't end up going,

0:12:13.840 --> 0:12:15.640
<v Speaker 5>but a lot of them still went because, you know,

0:12:15.679 --> 0:12:17.680
<v Speaker 5>they said, when I talked to some fans in the stadium,

0:12:17.760 --> 0:12:19.960
<v Speaker 5>they said, listen, it's been a great year.

0:12:20.080 --> 0:12:21.800
<v Speaker 7>It's still going to be a good game. I wish

0:12:21.840 --> 0:12:24.040
<v Speaker 7>we would have made it, but you know, we bought tickets,

0:12:24.040 --> 0:12:24.720
<v Speaker 7>so here we are.

0:12:25.160 --> 0:12:25.360
<v Speaker 4>You know.

0:12:25.440 --> 0:12:27.160
<v Speaker 5>One of the reasons it was held in Kansas City

0:12:27.200 --> 0:12:31.839
<v Speaker 5>this year was because CPKC Stadium is the first ever

0:12:32.000 --> 0:12:35.520
<v Speaker 5>stadium built for a women's soccer team in the world,

0:12:35.640 --> 0:12:37.720
<v Speaker 5>so it was really historic having the game there.

0:12:38.160 --> 0:12:43.640
<v Speaker 4>Vanessa Predomo Bloomberg Originals correspondent on all things women's soccer related,

0:12:43.880 --> 0:12:46.199
<v Speaker 4>and we've got more soccer up next with US Soccer

0:12:46.240 --> 0:12:50.240
<v Speaker 4>President Cindy Parlow Cohne stick around were my colleagues Scarlett

0:12:50.280 --> 0:12:53.400
<v Speaker 4>fu and the Desa Predomo. I'm Damian sas Hour and

0:12:53.480 --> 0:12:57.240
<v Speaker 4>you're listening to the Bloomberg Business of Sports from Bloomberg Radio.

0:12:57.800 --> 0:13:07.120
<v Speaker 4>Around the world, you're.

0:13:07.040 --> 0:13:10.959
<v Speaker 2>Listening to Bloomberg Business of Sports from Bloomberg Radio.

0:13:12.880 --> 0:13:15.680
<v Speaker 4>This is the Bloomberg Business of Sports where we explore

0:13:15.760 --> 0:13:18.360
<v Speaker 4>the big money issues in the world of sports. I'm

0:13:18.400 --> 0:13:22.680
<v Speaker 4>Damian Sasawer along with my colleagues Vanessa Perdomo and joining

0:13:22.720 --> 0:13:27.880
<v Speaker 4>us now Bloomberg Originals Chief correspondent Chas and Kelly. Soccer

0:13:27.960 --> 0:13:29.680
<v Speaker 4>is on the rise in the US with a North

0:13:29.720 --> 0:13:32.360
<v Speaker 4>American World Cup right around the corner, and the US

0:13:32.400 --> 0:13:36.880
<v Speaker 4>Soccer Federation knows it's at a major moment of opportunity.

0:13:37.200 --> 0:13:39.160
<v Speaker 4>Here to talk with us about the rise of soccer

0:13:39.160 --> 0:13:43.880
<v Speaker 4>in the States is US Soccer Federation President Cindy Parlow Cone. Cindy,

0:13:44.160 --> 0:13:46.160
<v Speaker 4>Welcome to the Bloomberg Business of Sports.

0:13:46.400 --> 0:13:47.840
<v Speaker 3>Thanks, thanks guys for having me.

0:13:48.040 --> 0:13:50.360
<v Speaker 4>All Right, so we have a new men's head coach.

0:13:50.440 --> 0:13:53.080
<v Speaker 4>We've got a lot happening in the world of women's soccer.

0:13:53.320 --> 0:13:56.280
<v Speaker 4>Tell us a little bit about what you're focused on

0:13:56.360 --> 0:13:57.360
<v Speaker 4>here in the early going.

0:13:57.800 --> 0:14:00.559
<v Speaker 3>You know, what we're focused on is winning so her games,

0:14:00.600 --> 0:14:04.679
<v Speaker 3>getting more kids playing soccer, right, improving the access to soccer.

0:14:05.840 --> 0:14:09.840
<v Speaker 3>And then obviously le announced Michelle Kang's generous donation of

0:14:09.880 --> 0:14:12.840
<v Speaker 3>thirty million dollars to US Soccer. So that will heavily

0:14:12.920 --> 0:14:18.920
<v Speaker 3>impact over one hundred thousand girls and women on the

0:14:18.920 --> 0:14:20.640
<v Speaker 3>girls side and women's side of the game.

0:14:21.520 --> 0:14:24.600
<v Speaker 5>Unbelievable. Yeah, generous is to say the least, for sure.

0:14:24.840 --> 0:14:26.720
<v Speaker 5>You know, Sindy, She's been doing so much in the space.

0:14:26.760 --> 0:14:28.640
<v Speaker 5>Michelle Kang's been doing so much in this space. She

0:14:28.720 --> 0:14:32.000
<v Speaker 5>owns three women's soccer teams, won the Washington Spear who

0:14:32.040 --> 0:14:35.720
<v Speaker 5>are in the NWSL Championship, and from what you've seen

0:14:35.800 --> 0:14:37.960
<v Speaker 5>from everything she's done, can you tell us about how

0:14:38.000 --> 0:14:40.200
<v Speaker 5>this deal came together. Was it you seeing what she

0:14:40.360 --> 0:14:43.040
<v Speaker 5>was doing and you being like, hey, over here, you know,

0:14:43.320 --> 0:14:45.480
<v Speaker 5>you know, we can use some of that too, or

0:14:45.760 --> 0:14:47.200
<v Speaker 5>was it a collaborative effort.

0:14:47.240 --> 0:14:49.120
<v Speaker 7>Did she come to you? How did it all come together?

0:14:49.920 --> 0:14:53.680
<v Speaker 3>It was a very collaborative effort. You know, Michelle is

0:14:54.480 --> 0:15:00.920
<v Speaker 3>continuously breaking down barriers and setting new expectations, and I

0:15:00.960 --> 0:15:04.040
<v Speaker 3>think her gift does exactly this. You know, my ninety

0:15:04.080 --> 0:15:08.000
<v Speaker 3>nine World Cup teammates and I we all thought the

0:15:08.080 --> 0:15:10.320
<v Speaker 3>ninety nine World Cup happened and then it was going

0:15:10.400 --> 0:15:15.040
<v Speaker 3>to be this massive explosion, but it ended up being

0:15:15.080 --> 0:15:20.400
<v Speaker 3>a moment, right. I think Michelle and what she has

0:15:20.520 --> 0:15:24.840
<v Speaker 3>done is she started a movement, right and it has

0:15:24.920 --> 0:15:30.520
<v Speaker 3>been sustained. You know, her donation to us is going

0:15:30.600 --> 0:15:36.520
<v Speaker 3>to be so impactful. So she's contributing to three main areas.

0:15:36.920 --> 0:15:40.640
<v Speaker 3>One is enabling us to increase our number of youth

0:15:40.720 --> 0:15:43.680
<v Speaker 3>national team camps, so we have eight youth national teams,

0:15:44.320 --> 0:15:46.760
<v Speaker 3>so we'll have more camps with us and more opportunities

0:15:46.760 --> 0:15:49.880
<v Speaker 3>for young girls and women. She's also putting money into

0:15:49.960 --> 0:15:54.880
<v Speaker 3>expanding improving our talent identification, so regardless of where you

0:15:54.960 --> 0:15:57.480
<v Speaker 3>live and play, you will have the opportunity to be

0:15:57.640 --> 0:16:00.200
<v Speaker 3>seen by our scouts. And then third, and I think

0:16:00.240 --> 0:16:04.160
<v Speaker 3>this is really important, is she's putting money towards fueling

0:16:04.280 --> 0:16:09.479
<v Speaker 3>the professional development of the coaches, the referees and executives.

0:16:10.120 --> 0:16:10.840
<v Speaker 7>We all know, to.

0:16:10.760 --> 0:16:12.800
<v Speaker 3>Develop the best players in the world, you have to

0:16:12.960 --> 0:16:16.720
<v Speaker 3>develop everyone around them too. For instance, right now, we're

0:16:16.720 --> 0:16:19.360
<v Speaker 3>looking with this donation to double the number of female

0:16:19.440 --> 0:16:21.800
<v Speaker 3>coaches and referees, which would be significant.

0:16:21.960 --> 0:16:23.920
<v Speaker 4>Talk to us a little bit about some of these benefactors.

0:16:23.920 --> 0:16:26.200
<v Speaker 4>It's not just you know, it's not just Ken. There's

0:16:26.240 --> 0:16:28.240
<v Speaker 4>so many other people out there, and certainly Ken had

0:16:28.240 --> 0:16:31.080
<v Speaker 4>a pretty big role, you know, in hiring the US

0:16:31.120 --> 0:16:34.760
<v Speaker 4>men team's new head coach, Mauricio Pocentino. I mean, tell

0:16:34.840 --> 0:16:36.960
<v Speaker 4>us a little bit about the role he played, about

0:16:36.960 --> 0:16:39.280
<v Speaker 4>the role you expect him to play for US Soccer

0:16:39.320 --> 0:16:39.840
<v Speaker 4>going forward.

0:16:40.720 --> 0:16:43.200
<v Speaker 3>Yeah, I mean he played a great role. I mean,

0:16:43.480 --> 0:16:47.240
<v Speaker 3>we know, to go after the best coaches in the world,

0:16:47.560 --> 0:16:50.320
<v Speaker 3>it's going to cost a lot of money, right and

0:16:50.800 --> 0:16:55.680
<v Speaker 3>as an MGB, as a nonprofit, that delta between a

0:16:56.000 --> 0:16:58.960
<v Speaker 3>head coach salary of a professional team and a head

0:16:58.960 --> 0:17:03.960
<v Speaker 3>coach salary of an m GB nonprofit organization like US Soccer,

0:17:05.119 --> 0:17:07.919
<v Speaker 3>it's hard to make up. And so when Ken stepped

0:17:08.000 --> 0:17:10.320
<v Speaker 3>up and we had some other donors step up as well,

0:17:11.080 --> 0:17:14.919
<v Speaker 3>it literally made us be able to dream big and

0:17:15.040 --> 0:17:18.000
<v Speaker 3>be bold and be able to hire what I think

0:17:18.240 --> 0:17:20.600
<v Speaker 3>is the best coach in the world in Pachettino.

0:17:21.359 --> 0:17:21.560
<v Speaker 2>Yeah.

0:17:21.600 --> 0:17:24.199
<v Speaker 5>You know what's interesting about that is, you know, with

0:17:24.320 --> 0:17:28.520
<v Speaker 5>Ken and some other benefactors, it might seem, you know,

0:17:28.640 --> 0:17:30.760
<v Speaker 5>out of the ordinary for them to just want to

0:17:30.800 --> 0:17:33.960
<v Speaker 5>want to help out. But with Michelle's investment specifically, and

0:17:34.000 --> 0:17:36.960
<v Speaker 5>with Arthur Blank's investment and things like that, these people

0:17:37.080 --> 0:17:40.919
<v Speaker 5>are very integral into professional soccer in the US. And

0:17:41.000 --> 0:17:44.399
<v Speaker 5>with Michelle, you know, owning multiple teams. It's not you know,

0:17:44.480 --> 0:17:46.960
<v Speaker 5>she said it this you know on CBS when she

0:17:47.000 --> 0:17:50.760
<v Speaker 5>made the announcement. This may seem like an investment in

0:17:50.800 --> 0:17:54.119
<v Speaker 5>a donation into a nonprofit, but US soccers are the

0:17:54.119 --> 0:17:58.280
<v Speaker 5>one who is developing the talent, you know, for these

0:17:58.320 --> 0:18:01.400
<v Speaker 5>professional leg So can you talk to you a little

0:18:01.600 --> 0:18:04.520
<v Speaker 5>about that, how this is going to then feed into

0:18:04.840 --> 0:18:07.280
<v Speaker 5>professionalism in the US, how it's going to make our

0:18:07.320 --> 0:18:09.760
<v Speaker 5>teams better national teams and the end of you sell

0:18:09.800 --> 0:18:10.920
<v Speaker 5>the MLS and all that.

0:18:12.200 --> 0:18:16.439
<v Speaker 3>Yeah, well, all of those professional players started somewhere and

0:18:16.560 --> 0:18:20.840
<v Speaker 3>so right, So they started in their local league. And

0:18:20.920 --> 0:18:22.880
<v Speaker 3>so I started playing when I was three years old.

0:18:22.960 --> 0:18:24.920
<v Speaker 3>I didn't make a national team until I was fourteen,

0:18:25.040 --> 0:18:29.320
<v Speaker 3>So there were many years where a young player is

0:18:29.359 --> 0:18:32.480
<v Speaker 3>developing in our ecosystem. And if we want to have

0:18:32.560 --> 0:18:35.720
<v Speaker 3>the best players in the world, and if we want

0:18:35.760 --> 0:18:39.560
<v Speaker 3>to provide the best possible environments for players to play,

0:18:39.600 --> 0:18:42.320
<v Speaker 3>whether they're going to make it onto the national team

0:18:42.400 --> 0:18:44.440
<v Speaker 3>or a pro league or not. Right, we still want

0:18:44.480 --> 0:18:47.119
<v Speaker 3>all kids to be engaged in the sport and to

0:18:47.160 --> 0:18:49.239
<v Speaker 3>have fun with it. So in order to do that,

0:18:49.280 --> 0:18:52.119
<v Speaker 3>we have to invest in the ecosystem around them, and

0:18:52.160 --> 0:18:55.320
<v Speaker 3>that is exactly what Michelle is doing. Player development is

0:18:55.400 --> 0:18:58.359
<v Speaker 3>very much a part of this, but also the professional

0:18:58.400 --> 0:19:03.120
<v Speaker 3>development of everyone around them that is literally developing these players.

0:19:03.160 --> 0:19:07.760
<v Speaker 3>And what's so great about Michelle is that she is

0:19:07.800 --> 0:19:11.080
<v Speaker 3>adamant like, this is just the start, right, I want

0:19:11.119 --> 0:19:13.440
<v Speaker 3>other people to jump on top of this. This thirty

0:19:13.480 --> 0:19:16.040
<v Speaker 3>million is great, it's going to push us along, but

0:19:16.119 --> 0:19:19.000
<v Speaker 3>she wants other people to jump in and join her

0:19:19.760 --> 0:19:24.679
<v Speaker 3>in investing in the youth landscape, investing in women and girls.

0:19:24.960 --> 0:19:26.760
<v Speaker 8>You know, City, you made such an interesting point a

0:19:26.760 --> 0:19:30.040
<v Speaker 8>few minutes ago about the ninety nine ers, and we've

0:19:30.080 --> 0:19:34.280
<v Speaker 8>spoken to Brandy Chastain and others who echo your exact

0:19:34.320 --> 0:19:38.240
<v Speaker 8>sentiment that you know, ninety nine happens, you win. It's like, okay,

0:19:38.280 --> 0:19:41.600
<v Speaker 8>here we go. Not only did it not happen then,

0:19:41.720 --> 0:19:44.680
<v Speaker 8>but there have been several failed attempts at a US

0:19:44.720 --> 0:19:48.879
<v Speaker 8>women's professional league. Does this feel different and what do

0:19:48.920 --> 0:19:51.960
<v Speaker 8>you see you know, especially you know, you played in

0:19:52.000 --> 0:19:58.280
<v Speaker 8>the WUSA, so you've seen this from all angles. What's

0:19:58.359 --> 0:20:02.320
<v Speaker 8>different this time, especially from a business perspective, that makes

0:20:02.359 --> 0:20:06.040
<v Speaker 8>you feel like this is now sustainable as a league.

0:20:06.440 --> 0:20:08.760
<v Speaker 3>Yeah, I think we've gone about it in a smart way.

0:20:09.040 --> 0:20:12.680
<v Speaker 3>I think looking back now, ninety nine was kind of

0:20:12.720 --> 0:20:17.320
<v Speaker 3>this aha moment to a lot of sports fans of like, oh,

0:20:17.680 --> 0:20:21.720
<v Speaker 3>women play sports and it's actually entertaining. But then the

0:20:21.760 --> 0:20:24.840
<v Speaker 3>tournament ended and it kind of was like there were

0:20:24.840 --> 0:20:29.040
<v Speaker 3>some increases in participation and what have you, but it

0:20:29.320 --> 0:20:31.600
<v Speaker 3>and we started the pro league that only lasted three

0:20:31.640 --> 0:20:33.800
<v Speaker 3>years in the WSA, Go Atlanta.

0:20:33.440 --> 0:20:36.480
<v Speaker 8>B Yeah, atl represent love it.

0:20:36.600 --> 0:20:42.640
<v Speaker 3>Yeah. But what we're seeing now are and we're seeing

0:20:42.680 --> 0:20:45.480
<v Speaker 3>it in multiple women's sports. It's not just soccer, but

0:20:45.560 --> 0:20:50.080
<v Speaker 3>what we're seeing specifically in soccer is investors that are

0:20:50.240 --> 0:20:55.840
<v Speaker 3>committed to the game and the people right and wanting

0:20:55.880 --> 0:20:59.560
<v Speaker 3>to really develop these people and surround these people with

0:20:59.680 --> 0:21:04.399
<v Speaker 3>great executives around them. And so we've really and the

0:21:04.480 --> 0:21:06.520
<v Speaker 3>NDBASL has done a great job of this, and then

0:21:06.560 --> 0:21:10.800
<v Speaker 3>the USL has just started a Division one professional women's

0:21:10.840 --> 0:21:14.840
<v Speaker 3>league as well, trying to provide more opportunities for women

0:21:14.880 --> 0:21:17.720
<v Speaker 3>and girls in the sports industry, and not everyone has

0:21:17.760 --> 0:21:20.800
<v Speaker 3>to play soccer right or be a great point. Yeah,

0:21:21.320 --> 0:21:25.600
<v Speaker 3>this is a whole industry. This business has so many

0:21:25.640 --> 0:21:28.440
<v Speaker 3>different types of jobs, so you don't have to be

0:21:28.480 --> 0:21:31.480
<v Speaker 3>a technical person to be in the sports industry or

0:21:31.520 --> 0:21:35.359
<v Speaker 3>the soccer industry. And so I think we've seen a

0:21:35.440 --> 0:21:39.760
<v Speaker 3>shift in that in the professionalization, the true professionalization of

0:21:39.800 --> 0:21:42.119
<v Speaker 3>the women's game, but we still have to take it

0:21:42.160 --> 0:21:42.920
<v Speaker 3>to another level.

0:21:43.400 --> 0:21:46.199
<v Speaker 4>Cydy Parlo cohone, you are the first female president of

0:21:46.280 --> 0:21:48.560
<v Speaker 4>US Soccer. So I have one question for you. What

0:21:48.920 --> 0:21:51.159
<v Speaker 4>is wrong with the men? I mean, seriously, what is

0:21:51.160 --> 0:21:53.040
<v Speaker 4>wrong with men's soccer here in the US as a

0:21:53.119 --> 0:21:56.160
<v Speaker 4>coaching Is it the lack of experience in big tournaments?

0:21:56.240 --> 0:21:59.080
<v Speaker 4>I mean, is the team you know, just in experience.

0:21:59.119 --> 0:22:00.800
<v Speaker 4>I mean, talk to us a little about if you

0:22:01.080 --> 0:22:03.399
<v Speaker 4>had your druggers about you, what would you do to

0:22:03.480 --> 0:22:05.640
<v Speaker 4>fix men's soccer here in the US.

0:22:05.960 --> 0:22:07.719
<v Speaker 3>You know, I think on the men's side, we've made

0:22:07.800 --> 0:22:10.879
<v Speaker 3>up to fun of progress and I think the hiring

0:22:10.920 --> 0:22:16.640
<v Speaker 3>of Pachettino speaks to our ambitions and what we think

0:22:16.680 --> 0:22:20.600
<v Speaker 3>our men's national team can do. And we you know,

0:22:20.760 --> 0:22:22.960
<v Speaker 3>I think part of it is we need to really

0:22:23.119 --> 0:22:27.800
<v Speaker 3>unite the whole youth system, the development system up into

0:22:27.920 --> 0:22:32.879
<v Speaker 3>the youth academies and make them have it be more connected.

0:22:33.840 --> 0:22:36.680
<v Speaker 3>We just have to continue to like we're talking about

0:22:36.720 --> 0:22:39.120
<v Speaker 3>on the women's side, it's the same thing is true

0:22:39.160 --> 0:22:42.000
<v Speaker 3>on the men's side. We have to improve the environments,

0:22:42.040 --> 0:22:46.640
<v Speaker 3>improve everyone around those players so that it's not happenstance

0:22:46.840 --> 0:22:49.440
<v Speaker 3>or just by luck that a player develops.

0:22:49.920 --> 0:22:52.960
<v Speaker 5>Yeah, and how much do you think the twenty twenty

0:22:52.960 --> 0:22:56.800
<v Speaker 5>six World Cup is going to feed into that system?

0:22:56.880 --> 0:23:00.000
<v Speaker 5>As in, do you think we are primed right now

0:23:00.040 --> 0:23:03.520
<v Speaker 5>now to develop even more until twenty twenty six or

0:23:03.560 --> 0:23:05.480
<v Speaker 5>is twenty twenty six going to be the moment where

0:23:05.520 --> 0:23:06.840
<v Speaker 5>soccer explodes here?

0:23:07.040 --> 0:23:10.760
<v Speaker 3>Well, I think World Cup twenty six will help, like

0:23:10.880 --> 0:23:12.440
<v Speaker 3>kind of put a shot in the arm. It will

0:23:12.560 --> 0:23:15.320
<v Speaker 3>change the trajectory of soccer in our country on the

0:23:15.320 --> 0:23:18.120
<v Speaker 3>men's side and the women's side. Look, I think MLS

0:23:18.160 --> 0:23:21.320
<v Speaker 3>has done a tremendous job, as has the NWSL and

0:23:21.400 --> 0:23:26.280
<v Speaker 3>the USL, so our professional leagues are thriving. Where we

0:23:26.359 --> 0:23:30.359
<v Speaker 3>need to do a better job is the development of

0:23:30.760 --> 0:23:35.440
<v Speaker 3>the players, coaches, referee professionals, the executives, in and around

0:23:35.480 --> 0:23:38.199
<v Speaker 3>the game so we can continue to develop better and

0:23:38.280 --> 0:23:41.320
<v Speaker 3>better players. One thing that I'm super excited about that

0:23:41.359 --> 0:23:45.919
<v Speaker 3>I'm very engaged on is we're under construction right now

0:23:46.000 --> 0:23:49.280
<v Speaker 3>with the Arthur M. Blank US Soccer National Training Center

0:23:49.480 --> 0:23:51.800
<v Speaker 3>in Atlanta. So I think that's going to be very

0:23:51.840 --> 0:23:55.919
<v Speaker 3>transformative for our country. It'll push our national teams to

0:23:56.000 --> 0:24:00.679
<v Speaker 3>new heights, allowing us to really build that culture, cultivate

0:24:00.720 --> 0:24:05.480
<v Speaker 3>winning teams through player development, and so many other things.

0:24:06.119 --> 0:24:07.800
<v Speaker 3>Every time I think of something that we're doing at

0:24:07.880 --> 0:24:10.320
<v Speaker 3>US Soccer, I think about how the National Training Center

0:24:10.400 --> 0:24:12.439
<v Speaker 3>is just going to have such a positive impact on

0:24:12.520 --> 0:24:13.560
<v Speaker 3>everything we're trying to do.

0:24:14.760 --> 0:24:17.159
<v Speaker 5>You know, we have this amazing World Cup coming up

0:24:17.160 --> 0:24:19.879
<v Speaker 5>in twenty twenty six, and then LA twenty twenty eight.

0:24:20.440 --> 0:24:24.040
<v Speaker 5>Feels like there was an opportunity for us to host

0:24:24.080 --> 0:24:26.520
<v Speaker 5>the twenty twenty seven World Cup. Do you think the

0:24:26.520 --> 0:24:28.919
<v Speaker 5>world would have just been sick of us? Or was

0:24:28.960 --> 0:24:32.360
<v Speaker 5>that maybe something a little bit of a missed opportunity there.

0:24:33.600 --> 0:24:37.399
<v Speaker 3>Yeah, So we decided to shift our focus from twenty

0:24:37.440 --> 0:24:42.199
<v Speaker 3>seven to thirty one because we wanted the same focus

0:24:42.280 --> 0:24:45.639
<v Speaker 3>on the Women's World Cup and thirty one as was

0:24:45.680 --> 0:24:48.480
<v Speaker 3>given to the twenty six. This given to the six

0:24:48.560 --> 0:24:51.800
<v Speaker 3>Men's World Cup, and we had real concerns that if

0:24:51.840 --> 0:24:54.400
<v Speaker 3>we were twenty six then twenty seven, that twenty seven

0:24:54.440 --> 0:24:57.399
<v Speaker 3>wouldn't be a focus until twenty six was done, and

0:24:57.440 --> 0:24:59.919
<v Speaker 3>that is not the right thing to do, and so

0:25:00.000 --> 0:25:03.399
<v Speaker 3>so we decided strategically this shift to thirty one. So

0:25:03.520 --> 0:25:05.840
<v Speaker 3>now we have this long build up like we've had

0:25:05.880 --> 0:25:08.480
<v Speaker 3>for the Men's World Cup, and so we can prepare,

0:25:08.560 --> 0:25:11.880
<v Speaker 3>the host cities can prepare, FIFA can prepare as well

0:25:11.920 --> 0:25:15.240
<v Speaker 3>as Conky Calf and really make the Women's World Cup

0:25:16.520 --> 0:25:18.960
<v Speaker 3>as great as it can be, and the players can

0:25:19.040 --> 0:25:23.120
<v Speaker 3>have equal experiences to the players of the Men's World Cup.

0:25:23.160 --> 0:25:26.000
<v Speaker 3>The fans have similar experiences as well.

0:25:26.240 --> 0:25:31.080
<v Speaker 4>Cindy Parlo Cone, President United States Soccer Federation, thank you

0:25:31.440 --> 0:25:33.840
<v Speaker 4>so much for joining us here today on the Bloomberg

0:25:33.880 --> 0:25:34.520
<v Speaker 4>Business of Sports.

0:25:34.560 --> 0:25:35.040
<v Speaker 9>We really do.

0:25:35.000 --> 0:25:38.200
<v Speaker 3>Appreciate Thank you, guys, appreciate you having me up.

0:25:38.240 --> 0:25:42.440
<v Speaker 4>Next, we welcome bet MGM CEO, Adam Green Black for

0:25:42.560 --> 0:25:46.080
<v Speaker 4>my colleague Scarlett Food, Jason Kelly, and Vanessa Prudomo. I'm

0:25:46.119 --> 0:25:49.760
<v Speaker 4>Damian Sasaur. You're listening to the Bloomberg Business of Sports

0:25:49.960 --> 0:25:52.560
<v Speaker 4>from Bloomberg Radio. Around the world.

0:25:56.600 --> 0:26:00.760
<v Speaker 2>You're listening to Bloomberg Business of Sports from Bloomberg Radio.

0:26:02.600 --> 0:26:05.080
<v Speaker 4>Thank you for joining us on the Bloomberg Business of Sports,

0:26:05.119 --> 0:26:07.320
<v Speaker 4>where we explore the big money issues in the world

0:26:07.320 --> 0:26:09.880
<v Speaker 4>of sports. I'm Damian sas Hour along with my colleague

0:26:09.920 --> 0:26:14.160
<v Speaker 4>scarlettfu and guest host Vanessa Perdomo. Michael barr is off

0:26:14.200 --> 0:26:17.600
<v Speaker 4>this week. The sports betting landscape continues to grow and

0:26:17.640 --> 0:26:21.280
<v Speaker 4>bet MGM finds itself at the forefront. Here now to

0:26:21.320 --> 0:26:24.320
<v Speaker 4>talk to us about the sports gambling landscape here in

0:26:24.359 --> 0:26:28.639
<v Speaker 4>the US, we have bet MGM CEO Friend of the show,

0:26:29.000 --> 0:26:32.119
<v Speaker 4>Adam green Blatt. Adam, welcome back to the Bloomberg Business

0:26:32.119 --> 0:26:36.640
<v Speaker 4>of Sports. Adam, welcome to the Bloomberg Business of Sports.

0:26:37.000 --> 0:26:38.800
<v Speaker 9>Well, thank you for having me. I'm really pleased to

0:26:38.840 --> 0:26:39.320
<v Speaker 9>be here.

0:26:39.760 --> 0:26:41.200
<v Speaker 4>So Adam talked to us a little bit about the

0:26:41.240 --> 0:26:43.800
<v Speaker 4>state of sports gambling here in the US. You know,

0:26:43.880 --> 0:26:46.199
<v Speaker 4>has it been growing, what states are coming online? What

0:26:46.280 --> 0:26:46.840
<v Speaker 4>comes next?

0:26:47.800 --> 0:26:50.840
<v Speaker 6>Yes, it's been a tale of growth over the last

0:26:50.920 --> 0:26:54.360
<v Speaker 6>four or five years. Bet MGM is now in twenty

0:26:54.520 --> 0:26:58.000
<v Speaker 6>nine different states, serving over fifty percent of the US

0:26:58.000 --> 0:27:02.520
<v Speaker 6>population with some kind of sports offering. Sports betting offering.

0:27:02.840 --> 0:27:05.679
<v Speaker 6>So it really has been something to behold And as

0:27:05.720 --> 0:27:09.080
<v Speaker 6>we look to the twelve months ahead, we've got two

0:27:09.200 --> 0:27:14.040
<v Speaker 6>new states or two new jurisdictions coming. Missouri just past

0:27:14.200 --> 0:27:17.639
<v Speaker 6>enabling legislation a few weeks ago, so we're we're looking

0:27:17.640 --> 0:27:21.000
<v Speaker 6>forward to the launch of that online sports betting in

0:27:21.000 --> 0:27:23.480
<v Speaker 6>that state. And also north of the border, we have

0:27:23.560 --> 0:27:29.520
<v Speaker 6>our second province in Canada with Alberta bringing to its

0:27:29.600 --> 0:27:33.960
<v Speaker 6>players online sports betting and I gaming probably in the.

0:27:33.920 --> 0:27:35.440
<v Speaker 9>Middle of the twenty five.

0:27:36.520 --> 0:27:40.760
<v Speaker 1>So, Adam, I'm curious what you're seeing in different sports,

0:27:41.359 --> 0:27:44.080
<v Speaker 1>you know, especially the kind of volume and the interest

0:27:44.400 --> 0:27:47.320
<v Speaker 1>from betters. Why don't we start with the NBA. You know,

0:27:47.320 --> 0:27:50.240
<v Speaker 1>we're the heart of the season right now. What does

0:27:50.320 --> 0:27:55.240
<v Speaker 1>the interest look like for daily games versus high profile games?

0:27:55.840 --> 0:27:59.120
<v Speaker 6>Absolutely well, we've seen just more generally, we've seen a

0:27:59.160 --> 0:28:04.120
<v Speaker 6>significant increase in handle euron your for both pregame and

0:28:04.280 --> 0:28:07.200
<v Speaker 6>live so while the game is on betting in each

0:28:07.240 --> 0:28:10.159
<v Speaker 6>of those during the start of this season, just to

0:28:10.200 --> 0:28:12.680
<v Speaker 6>give put a number on that, we've seen a seventy

0:28:12.840 --> 0:28:17.480
<v Speaker 6>seven zero percent increase in total NBA bets EU on

0:28:17.520 --> 0:28:20.080
<v Speaker 6>Your And what's also interesting this year is that there

0:28:20.119 --> 0:28:23.200
<v Speaker 6>is extra interest in the NBA Cup games, so we

0:28:23.240 --> 0:28:27.880
<v Speaker 6>see a spike in activity on Tuesdays and Thursdays so far,

0:28:28.320 --> 0:28:32.200
<v Speaker 6>and of course b The other interesting trend I think

0:28:32.280 --> 0:28:35.680
<v Speaker 6>is the continued growth and popularity.

0:28:35.000 --> 0:28:36.280
<v Speaker 9>Of player props.

0:28:36.840 --> 0:28:40.000
<v Speaker 6>You know, the NBA does a great job in marketing

0:28:40.040 --> 0:28:44.760
<v Speaker 6>their players, which drives a decent percentage of interest and

0:28:45.120 --> 0:28:48.719
<v Speaker 6>betting action, and so we're seeing a lot of bets.

0:28:48.720 --> 0:28:52.440
<v Speaker 6>For example, player prop bets on Jason Tatum quollowed by

0:28:52.440 --> 0:28:53.680
<v Speaker 6>Donovan Mitchell.

0:28:53.840 --> 0:28:56.080
<v Speaker 5>Adam, you know, when you were talking, I was hoping

0:28:56.080 --> 0:28:57.600
<v Speaker 5>that you were going to say, you know, we're seeing

0:28:57.600 --> 0:28:59.720
<v Speaker 5>a lot of growth, and the biggest one is in

0:28:59.760 --> 0:29:00.520
<v Speaker 5>women in sports.

0:29:00.560 --> 0:29:03.200
<v Speaker 7>You know, so I love that, but so I am curious.

0:29:03.280 --> 0:29:05.840
<v Speaker 5>You know what you've seen this year with the uptick

0:29:05.960 --> 0:29:10.360
<v Speaker 5>in popularity of women's sports, particularly in women's basketball. Would

0:29:10.400 --> 0:29:12.360
<v Speaker 5>you say it's one of the you know, the biggest

0:29:12.360 --> 0:29:14.680
<v Speaker 5>growth areas for the sports betting market.

0:29:15.720 --> 0:29:16.959
<v Speaker 9>It's it certainly is.

0:29:17.360 --> 0:29:19.360
<v Speaker 6>But last year we're coming off the back of a

0:29:19.400 --> 0:29:25.000
<v Speaker 6>season where we saw the unprecedented Caitlin Clark effect, and

0:29:25.360 --> 0:29:31.520
<v Speaker 6>so NCAA women's basketball has just been exploded and we're

0:29:31.520 --> 0:29:32.360
<v Speaker 6>seeing two factors.

0:29:32.400 --> 0:29:33.440
<v Speaker 9>Actually, we're seeing.

0:29:33.760 --> 0:29:37.960
<v Speaker 6>More men following women's games and betting on women's games.

0:29:37.960 --> 0:29:41.920
<v Speaker 9>So there's more male interest in women's sports. But on

0:29:42.000 --> 0:29:43.080
<v Speaker 9>top of that, and this.

0:29:43.160 --> 0:29:46.800
<v Speaker 6>Is the also exciting part, we are seeing more women

0:29:46.960 --> 0:29:50.880
<v Speaker 6>participation in sports betting following women's games.

0:29:52.560 --> 0:29:52.760
<v Speaker 2>You know.

0:29:52.840 --> 0:29:56.320
<v Speaker 6>The success this year of Paige because Yukon Huskies is.

0:29:56.560 --> 0:30:00.000
<v Speaker 9>A is another draw cross sports.

0:30:00.000 --> 0:30:05.880
<v Speaker 6>However, the Taylor Swift effect is also gathering more women

0:30:05.960 --> 0:30:09.000
<v Speaker 6>into interest in live sports, and that that cuts across

0:30:09.040 --> 0:30:12.640
<v Speaker 6>both obviously NFL and the NBA and the college game.

0:30:12.880 --> 0:30:14.480
<v Speaker 9>So we're seeing, just to put.

0:30:14.280 --> 0:30:18.160
<v Speaker 6>A number on this, one hundred and thirteen percent increase

0:30:18.280 --> 0:30:21.360
<v Speaker 6>in betting euro over here in the WNBA.

0:30:22.280 --> 0:30:22.600
<v Speaker 2>Wow.

0:30:22.800 --> 0:30:26.280
<v Speaker 4>Wow, Adam, Well, look you're you're you're you're free from

0:30:26.320 --> 0:30:27.880
<v Speaker 4>South Africa, so I can speak to you, you know,

0:30:28.280 --> 0:30:30.920
<v Speaker 4>very openly here Alberta, Canada. I mean, come on, how

0:30:30.960 --> 0:30:32.680
<v Speaker 4>many people are going to be gambling on the Edmonton

0:30:32.720 --> 0:30:35.280
<v Speaker 4>Oilers and Calgary Flames. I mean, I understand the Saint

0:30:35.280 --> 0:30:37.720
<v Speaker 4>Louis Blues and Cardinals, I get it. I understand Missouri

0:30:37.800 --> 0:30:40.680
<v Speaker 4>coming online, but like Canada, I mean, come on, talk

0:30:40.720 --> 0:30:43.680
<v Speaker 4>to us a little bit about how Canadians gamble on sports.

0:30:44.480 --> 0:30:49.480
<v Speaker 6>Well, well, Berenham Gym is particularly well situated. You know,

0:30:49.520 --> 0:30:56.640
<v Speaker 6>we've long been supportive of the all time greats in

0:30:57.000 --> 0:30:59.680
<v Speaker 6>the world of hockey of Wayne Gretzky, who is.

0:31:01.160 --> 0:31:06.520
<v Speaker 9>More more popular than Coca Cola, and of course Conen

0:31:06.640 --> 0:31:10.560
<v Speaker 9>McDavid is also a partner, so.

0:31:10.760 --> 0:31:15.720
<v Speaker 6>You know, we've been particularly we've penetrated the Canadian market

0:31:15.800 --> 0:31:19.560
<v Speaker 6>particularly well. We think in aggregate we bet and GYM

0:31:19.600 --> 0:31:22.480
<v Speaker 6>are the market leaders across ie gaming and sports.

0:31:23.080 --> 0:31:25.080
<v Speaker 9>And what's also been.

0:31:26.360 --> 0:31:30.240
<v Speaker 6>Very impactful on the sports business is the ability to

0:31:30.240 --> 0:31:31.320
<v Speaker 6>cross sell from gaming.

0:31:31.720 --> 0:31:33.400
<v Speaker 9>We've been betm gem is.

0:31:33.400 --> 0:31:37.240
<v Speaker 6>The biggest ie gaming brand and we see a very

0:31:37.400 --> 0:31:41.400
<v Speaker 6>healthy level of cross sell between sports and gaming in

0:31:41.440 --> 0:31:45.280
<v Speaker 6>both directions. Actually, so the two do support each other

0:31:45.840 --> 0:31:48.880
<v Speaker 6>and we see really good betting interests.

0:31:48.920 --> 0:31:50.600
<v Speaker 9>Obviously the sports.

0:31:50.240 --> 0:31:54.360
<v Speaker 6>Bias north of the border is different, but we do

0:31:54.440 --> 0:31:57.400
<v Speaker 6>see very strong interest in both sports and I gain.

0:31:57.880 --> 0:31:59.640
<v Speaker 1>I mean, there's going to be interest in betting on

0:31:59.680 --> 0:32:03.440
<v Speaker 1>sports whether you're in Canada, South Africa or the US.

0:32:03.840 --> 0:32:05.800
<v Speaker 1>The thing is there's so many different ways to do

0:32:05.840 --> 0:32:08.360
<v Speaker 1>it right. You don't have to do that MGM. You

0:32:08.400 --> 0:32:10.200
<v Speaker 1>could do DraftKings, you could do a fan duel.

0:32:10.360 --> 0:32:11.920
<v Speaker 4>I mean, talk to us a little bit about that.

0:32:12.000 --> 0:32:13.800
<v Speaker 4>I mean, like, you know, where is the growth in

0:32:13.840 --> 0:32:16.240
<v Speaker 4>sports gambling. I mean, has it really kind of come

0:32:16.240 --> 0:32:17.680
<v Speaker 4>over that hurdle? Has it been exhausted?

0:32:17.880 --> 0:32:19.120
<v Speaker 9>The industry is growing up.

0:32:19.600 --> 0:32:23.160
<v Speaker 6>We're seeing an expansion of bet types and sports betting

0:32:23.200 --> 0:32:26.880
<v Speaker 6>really has gone beyond the traditional Vegas six pack of

0:32:27.200 --> 0:32:29.720
<v Speaker 6>money line spreads and totals.

0:32:29.880 --> 0:32:31.400
<v Speaker 9>You know, what we're seeing now is.

0:32:31.360 --> 0:32:38.200
<v Speaker 6>That immense growth, really exciting growth of the world of parlays,

0:32:39.400 --> 0:32:44.760
<v Speaker 6>the growth of player crops, crops. Generally, live betting is

0:32:45.320 --> 0:32:48.120
<v Speaker 6>on the up in all of our major sports, and frankly,

0:32:48.520 --> 0:32:52.120
<v Speaker 6>US sports lend themselves to live betting more than most

0:32:52.400 --> 0:32:56.440
<v Speaker 6>given the stop start nature of the sports themselves. The

0:32:56.480 --> 0:32:58.400
<v Speaker 6>other one of the other trends that we've talked about

0:32:58.400 --> 0:33:03.120
<v Speaker 6>the growth of in interest in women's sports, but the

0:33:03.160 --> 0:33:09.680
<v Speaker 6>growth of the first markets like first touchdown, first drive props.

0:33:10.280 --> 0:33:13.360
<v Speaker 6>We are seeing well over one hundred percent growth of

0:33:13.840 --> 0:33:15.440
<v Speaker 6>take up of those kinds of bets.

0:33:15.920 --> 0:33:18.080
<v Speaker 9>You're on you And the last thing I would point

0:33:18.120 --> 0:33:19.160
<v Speaker 9>out is is this.

0:33:20.680 --> 0:33:24.920
<v Speaker 6>The synthesis the integration of the world of sports betting

0:33:25.360 --> 0:33:30.560
<v Speaker 6>and the world of social conversation and the narrative around sports.

0:33:31.040 --> 0:33:34.840
<v Speaker 6>You may be aware that BETNGM was the first of

0:33:34.880 --> 0:33:37.680
<v Speaker 6>its kind to form a partnership which with one of

0:33:37.680 --> 0:33:39.240
<v Speaker 6>the big social media companies.

0:33:39.720 --> 0:33:43.160
<v Speaker 9>We are partners with X and X has just.

0:33:43.200 --> 0:33:47.560
<v Speaker 6>Frankly launched its NFL portal and we are the exclusive

0:33:47.680 --> 0:33:50.440
<v Speaker 6>odds provider of that portal. So if you're in if

0:33:50.440 --> 0:33:53.800
<v Speaker 6>you're in a state where sports betting is allowed, you

0:33:53.880 --> 0:33:58.840
<v Speaker 6>get onto X's NFL portal and there's a live link

0:33:59.760 --> 0:34:02.040
<v Speaker 6>to to bed and gin and our six peck odds

0:34:02.040 --> 0:34:05.360
<v Speaker 6>on display. So the integration of the world of social

0:34:05.400 --> 0:34:07.240
<v Speaker 6>and the world of sports bedding, the world of media

0:34:07.520 --> 0:34:09.960
<v Speaker 6>and sports bedding is really coming to life in.

0:34:10.239 --> 0:34:10.719
<v Speaker 9>A real way.

0:34:10.760 --> 0:34:13.440
<v Speaker 5>We're seeing, you know, the Black Friday games that they

0:34:13.440 --> 0:34:17.080
<v Speaker 5>were on Amazon and when you see those things like

0:34:17.120 --> 0:34:20.040
<v Speaker 5>on streaming platforms, does that differ for you at all?

0:34:20.560 --> 0:34:23.280
<v Speaker 7>And when they're on streaming platforms and when they're on.

0:34:23.160 --> 0:34:26.880
<v Speaker 5>You know, regular you know networks, is that different for

0:34:26.880 --> 0:34:27.480
<v Speaker 5>you guys at all.

0:34:28.640 --> 0:34:33.160
<v Speaker 6>Well, we've seen the most relevant recent use cases the

0:34:33.160 --> 0:34:37.200
<v Speaker 6>Thursday Night game in the NFL, and what we're seeing

0:34:37.280 --> 0:34:42.080
<v Speaker 6>is viewership is down on you from broadcast to streaming.

0:34:42.480 --> 0:34:46.880
<v Speaker 9>But on the streaming service, we're also seeing viewership grow

0:34:47.239 --> 0:34:50.719
<v Speaker 9>from its current base. So I think this was the.

0:34:52.239 --> 0:34:53.800
<v Speaker 6>Question, of course for all of us, is well, what

0:34:54.520 --> 0:34:57.080
<v Speaker 6>we understand that there's been a step back as the

0:34:57.120 --> 0:35:04.040
<v Speaker 6>shift from from cable to the cutting the cord process continues.

0:35:04.719 --> 0:35:07.960
<v Speaker 6>The question is at what point does when's the tipping

0:35:08.000 --> 0:35:09.919
<v Speaker 6>point and where is the tipping point? We haven't seen

0:35:09.960 --> 0:35:13.960
<v Speaker 6>that yet, but based on the projections of current growth

0:35:14.040 --> 0:35:18.640
<v Speaker 6>in viewership fandom, we think the move to streaming will

0:35:18.680 --> 0:35:23.000
<v Speaker 6>ultimately maybe one year, two years be better, certainly for

0:35:23.040 --> 0:35:25.120
<v Speaker 6>our business and for viewership more generally.

0:35:25.200 --> 0:35:28.040
<v Speaker 5>We've talked a lot about growth here and i'd love

0:35:28.080 --> 0:35:30.879
<v Speaker 5>to see, you know, hear your take on Obviously, now

0:35:30.920 --> 0:35:33.959
<v Speaker 5>it's about five six years into sports betting being legal

0:35:34.000 --> 0:35:37.120
<v Speaker 5>in the US, and it's so it's not really new anymore.

0:35:37.200 --> 0:35:40.600
<v Speaker 5>So how do you get new subscribers, new people to

0:35:40.960 --> 0:35:43.520
<v Speaker 5>engage with the platform now that it's kind of been

0:35:43.560 --> 0:35:46.360
<v Speaker 5>out there, you'd think everyone who is interested would be

0:35:46.440 --> 0:35:49.000
<v Speaker 5>on you know that MGM already.

0:35:50.480 --> 0:35:50.719
<v Speaker 9>So.

0:35:52.200 --> 0:35:54.359
<v Speaker 6>It has been around for a little while, for more

0:35:54.360 --> 0:35:56.680
<v Speaker 6>than a little while now, So I agree with the

0:35:56.719 --> 0:36:01.360
<v Speaker 6>premise that you know, those keen beings who have spontaneous

0:36:01.400 --> 0:36:07.919
<v Speaker 6>interest are participating. I see that as wave one Wave two,

0:36:08.120 --> 0:36:12.080
<v Speaker 6>and that there are two big populations which exist today

0:36:12.600 --> 0:36:16.920
<v Speaker 6>that represent further growth, further deepening of potential penetration of

0:36:16.960 --> 0:36:19.920
<v Speaker 6>the industry and for bet MGM as part of that.

0:36:20.600 --> 0:36:24.600
<v Speaker 6>The first is those that participate in the illegal market.

0:36:25.680 --> 0:36:30.600
<v Speaker 6>There's still a big offshore market, which frankly is just

0:36:30.920 --> 0:36:33.000
<v Speaker 6>a continuation.

0:36:33.080 --> 0:36:39.520
<v Speaker 9>And of what came before regulated and regulated sports betting.

0:36:40.280 --> 0:36:43.920
<v Speaker 6>You know, those that had their person that they you know,

0:36:44.000 --> 0:36:46.600
<v Speaker 6>that call up ahead of the weekend and get a

0:36:46.600 --> 0:36:47.600
<v Speaker 6>line and have a bet.

0:36:47.920 --> 0:36:51.240
<v Speaker 9>That still goes on, and it goes on, we understand

0:36:51.280 --> 0:36:51.880
<v Speaker 9>at scale.

0:36:52.200 --> 0:36:54.920
<v Speaker 6>The other thing to which sign posts this point that

0:36:55.000 --> 0:36:59.160
<v Speaker 6>I'm making is the search interest in illegal operators ahead

0:36:59.160 --> 0:37:01.160
<v Speaker 6>of ten pole events. So you get up to the

0:37:01.560 --> 0:37:04.400
<v Speaker 6>if you track Google searchers and I won't name the

0:37:04.480 --> 0:37:09.160
<v Speaker 6>names Google searchers for those unregulated operators, that they are

0:37:09.200 --> 0:37:10.880
<v Speaker 6>still search at scale.

0:37:12.560 --> 0:37:13.200
<v Speaker 9>Search volume.

0:37:13.280 --> 0:37:15.960
<v Speaker 6>So really for all of us, one of the challenges

0:37:16.000 --> 0:37:20.120
<v Speaker 6>and opportunities is bringing that offshore business on shore, which

0:37:20.160 --> 0:37:23.640
<v Speaker 6>protects consumers, which raise US tax revenue. It's just an

0:37:23.640 --> 0:37:27.719
<v Speaker 6>all around good thing. So that's the one population.

0:37:28.239 --> 0:37:32.879
<v Speaker 9>The other population is everybody else, and I know that's

0:37:32.880 --> 0:37:34.080
<v Speaker 9>a ridiculous thing to say.

0:37:34.200 --> 0:37:36.359
<v Speaker 10>But what we saw in if you look at other

0:37:36.480 --> 0:37:42.360
<v Speaker 10>international markets that are significantly more mature than the US

0:37:42.480 --> 0:37:45.840
<v Speaker 10>is what we see is for many, many years.

0:37:45.840 --> 0:37:50.359
<v Speaker 6>After the regulation of the market of the ability to participate,

0:37:50.719 --> 0:37:53.440
<v Speaker 6>we see double digit growth here on you for many.

0:37:53.520 --> 0:37:54.440
<v Speaker 9>Ten years plus.

0:37:55.440 --> 0:37:58.920
<v Speaker 6>And the one of the drivers for that is more

0:37:59.280 --> 0:38:03.080
<v Speaker 6>participation of those who enjoy it. And the other driver

0:38:03.160 --> 0:38:05.800
<v Speaker 6>is the answer to your question now, the other driver

0:38:06.040 --> 0:38:08.600
<v Speaker 6>is it becomes really just part of the leisure basket

0:38:08.640 --> 0:38:09.960
<v Speaker 6>for a broader population.

0:38:10.239 --> 0:38:12.680
<v Speaker 1>All right, Adam, really appreciate your joining us today. Adam

0:38:12.719 --> 0:38:15.360
<v Speaker 1>Greenblatt is CEO of bet MGM.

0:38:15.239 --> 0:38:17.400
<v Speaker 4>And that does it for this edition of the Bloomberg

0:38:17.440 --> 0:38:19.919
<v Speaker 4>Business of Sports. If you missed any of our conversations,

0:38:20.160 --> 0:38:22.360
<v Speaker 4>please listen on demand now with the Bloomberg Business of

0:38:22.400 --> 0:38:26.719
<v Speaker 4>Sports podcast. Find that on Apple, Spotify and all your

0:38:26.800 --> 0:38:30.680
<v Speaker 4>favorite podcast platforms. For Scarlett fu and Vanessa Perdomo, I

0:38:30.719 --> 0:38:33.960
<v Speaker 4>am Damien sas Hour. Thank you for joining us. Tune

0:38:33.960 --> 0:38:36.120
<v Speaker 4>in again next week for the latest on the stories

0:38:36.160 --> 0:38:39.560
<v Speaker 4>moving big money in the world of sports. You're listening

0:38:39.640 --> 0:38:43.920
<v Speaker 4>to Bloomberg Business of Sports from Bloomberg Radio around the world.