Legalized sports betting could increase annual revenue for the National Hockey League by $216 million, according to a recent study from Nielsen Sports.
The study, commissioned by the American Gaming Association, concluded that widely available, legal, regulated sports betting could benefit the NHL’s bottom line. The league could generate new revenue from betting operators on advertising, data and sponsorships as well as increased consumption of the league’s media and products, according to the AGA.
“Today’s announcement reaffirms that legal, regulated sports betting will create significant new revenue opportunities for sports leagues,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “Much like the NHL’s recent successful expansion into Las Vegas, legal sports betting will continue to expand across the country, bringing with it a $216 million opportunity for the league.”
The study predicted that the NHL could generate $151 million from increased fan engagement, which includes increased revenue from media rights, ticket sales, merchandise and sponsorships. The study estimated that $65 million in revenue could be generated from sports betting operators.
In September, the AGA released the results of a Nielsen Sports study that found that legalized sports betting had the potential to generate $2.3 billion for the NFL.
Monmouth Park Racetrack and Atlantic City’s Borgata Hotel Casino & Spa launched sports wagering operations June 14, kicking off a summer that saw casinos and racetracks opening betting windows and online sports books.
To date, six of Atlantic City’s nine casinos have opened sports betting lounges.
In addition to New Jersey, legalized sports betting is also available in Delaware, Mississippi, Nevada and West Virginia.