Tom Brady, Wayne Gretzky, Vince Vaughn Star In Super Bowl LVIII Ad For Sports Betting Company: Early Details Ahead Of The Big Game
Portfolio Pulse from Chris Katje
BetMGM, a joint venture owned by MGM Resorts International (NYSE:MGM) and Entain, will air its first-ever Super Bowl commercial during Super Bowl LVIII on Feb. 11, featuring Tom Brady, Wayne Gretzky, and Vince Vaughn. Paramount Global Inc (NASDAQ:PARA)(NASDAQ:PARAA) is telecasting the event and charging $6 million to $7 million for 30-second ads. The ad is part of BetMGM's strategy to boost its brand and will coincide with in-person events in Las Vegas. DraftKings Inc (NASDAQ:DKNG) will not air a Super Bowl ad this year, while FanDuel, a unit of Flutter Entertainment ADR (OTC:PDYPY), will feature Rob Gronkowski. PENN Entertainment (NASDAQ:PENN) has also entered the sports betting market with ESPN Bet, increasing competition for BetMGM.
January 19, 2024 | 3:21 pm
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POSITIVE IMPACT
MGM Resorts International, co-owner of BetMGM, is expected to gain visibility from the Super Bowl ad featuring high-profile celebrities, potentially boosting its brand and customer engagement.
The Super Bowl ad is a significant marketing event that can lead to increased brand recognition and customer acquisition for MGM Resorts, especially with the game taking place in Las Vegas where MGM has a strong presence.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Paramount Global Inc is broadcasting Super Bowl LVIII and charging premium rates for ad spots, which could positively impact its advertising revenue.
As the broadcaster of the Super Bowl, Paramount Global stands to benefit from high advertising rates, which could lead to a short-term increase in revenue.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
FanDuel, owned by Flutter Entertainment ADR, will feature Rob Gronkowski in its Super Bowl ad, potentially enhancing its brand presence and competing with BetMGM's ad.
FanDuel's continued presence in Super Bowl advertising could maintain or enhance its brand visibility, especially with the use of celebrity endorsements.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
PENN Entertainment's launch of ESPN Bet adds to the competitive pressure on BetMGM, which could impact BetMGM's market share and PENN's positioning in the sports betting market.
The entry of ESPN Bet into the market increases competition, but the short-term impact on PENN's stock is uncertain as the market response to these dynamics is yet to be seen.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEGATIVE IMPACT
DraftKings Inc, which aired Super Bowl ads in the past, will not participate this year, potentially affecting its visibility during one of the most-watched events.
DraftKings' decision to not air a Super Bowl ad could lead to a short-term decrease in visibility compared to competitors who are advertising during the event.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 50