Hall of Fame Resort & Entertainment Company Announces 10-year Mobile Sports Betting Agreement with Betr
11 Agosto 2022 - 2:00PM
Business Wire
Betr becomes the Company’s official mobile
sports-betting partner and HOFV becomes a shareholder in Betr
Betr is the first DTC micro-betting focused
sports betting and media company for the next generation of sports
fans
Hall of Fame Resort & Entertainment Company (“HOFV” or the
“Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment
and media company centered around the power of professional
football, today announced it has entered into a 10-year agreement
with Betr to become the official mobile sports-betting partner of
the Company, subject to the procurement of necessary licenses,
offering consumers a seamless way to place their bets. Betr,
founded by sports betting veteran Joey Levy and media mogul Jake
Paul, is the first direct-to-consumer micro-betting focused sports
betting company which has also launched a new media venture for the
next generation of sports fans, highlighted by Paul’s weekly show
with top athletes. As part of the agreement, HOFV gains limited
equity interest in Betr, revenue sharing, and the partnership
incorporates opportunities for cross-marketing, branding, and
engagement with consumers of both companies.
Betr will be powered by micro-betting technology industry leader
Simplebet, where Levy previously served as co-founder. Betr is
setting out to disrupt legacy gambling and media, with a mission of
making sports and betting, betr. Betr will focus predominantly on
micro-betting, a growing form of betting that introduces instant
gratification to the user’s experience by enabling the moments that
drive U.S. sports consumption – such as pitches and at-bats of
baseball games and plays and drives of football games – to become
discrete betting opportunities, as well as simplifying the user
experience.
“This partnership amplifies two of our key business verticals in
gaming and media to further our strategic goal of continually
creating new and unique sports content and experiences for our fans
and guests to enjoy,” said Michael Crawford, HOFV President and
CEO. “Betr positions our company to obtain the necessary licenses
to make a dramatic impact in the mobile betting space and will
drive meaningful value for our stakeholders.”
Betr CEO Joey Levy stated, “We are excited to partner with HOFV
on launching the world’s first micro-betting focused app in Ohio.
Our differentiated product, combined with our sports media company
built for the next generation of sports fans along with HOFV’s
strengths and access to unique content experiences in Ohio and
throughout the country makes us confident this will be a successful
partnership. We are also pleased HOFV has taken an equity position
in Betr as part of this agreement – enabling us to preserve cash
while providing HOFV upside in Betr’s success. We are grateful for
HOFV’s belief in our company’s vision and are looking forward to
introducing something different to this industry with them while
creating value for all of our shareholders.”
The Betr mobile partnership coupled with HOFV’s
previously-announced partnership with Rush Street Interactive, Inc.
(“RSI”) (NYSE: RSI), will help further enhance the experience of
fans by enabling visitors to place bets digitally anywhere in Ohio
in addition to the premier sports betting retail location that RSI
will be opening in the Fan Engagement Zone. The agreement with Betr
replaces the previously announced agreement with Genesis Global,
Ltd.
For more information on Betr, follow @betr on TikTok, YouTube,
Instagram, Twitter, LinkedIn and at betr.app.
About Hall of Fame Resort & Entertainment Company
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV,
HOFVW) is a resort and entertainment company leveraging the power
and popularity of professional football and its legendary players
in partnership with the Pro Football Hall of Fame. Headquartered in
Canton, Ohio, the Hall of Fame Resort & Entertainment Company
is the owner of the Hall of Fame Village, a multi-use sports,
entertainment and media destination centered around the Pro
Football Hall of Fame's campus. Additional information on the
Company can be found at www.HOFREco.com.
About Betr
Founded in 2022 by Joey Levy and Jake Paul, Betr is the first
direct-to-consumer micro-betting focused sports betting company.
Betr has also launched a new media venture for the next generation
of sports fans. Betr is setting out to disrupt legacy gambling and
legacy media, with a mission of making sports and betting betr. You
can find Betr on @betr on TikTok, YouTube, Instagram, and Twitter,
and on LinkedIn and at betr.app.
Forward-Looking Statements
Certain statements made herein are “forward-looking statements”
within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words and phrases such
as “opportunity,” “future,” “will,” “goal,” “enable,” “pipeline,”
“transition,” “move forward,” “towards,” “build out,” “coming” and
“look forward” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements are not
guarantees of future performance, conditions, or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the Company’s control, which could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors that may affect actual results or
outcomes include, among others, the Company’s ability to manage
growth; the Company’s ability to execute its business plan and meet
its projections, including obtaining financing to construct planned
facilities; potential litigation involving the Company; changes in
applicable laws or regulations; general economic and market
conditions impacting demand for the Company’s products and
services, and in particular economic and market conditions in the
resort and entertainment industry; the effects of the ongoing
global coronavirus (COVID-19) pandemic on capital markets, general
economic conditions, unemployment and the Company’s liquidity,
operations and personnel; increased inflation; the inability to
maintain the listing of the Company’s shares on Nasdaq; and those
risks and uncertainties discussed from time to time in our reports
and other public filings with the SEC. The Company does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220811005405/en/
Media/Investor Contacts: For Hall of Fame Resort &
Entertainment Company: Media Inquiries:
public.relations@hofreco.com Investor Inquiries:
investor.relations@hofreco.com
For Betr: betr@hstrategies.com
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