NJ TRANSIT PARTNERS WITH BETMGM ON NAMING RIGHTS FOR MEADOWLANDS RAIL LINE
Three-Year Sponsorship Creates Newly Branded “BetMGM Meadowlands Rail Line”
September 14, 2022
NEWARK, NJ — NJ TRANSIT and BetMGM today unveiled a new three year sponsorship that renames NJ TRANSIT’s Meadowlands Rail Line as the BetMGM Meadowlands Rail Line. The agreement on the naming rights is a first of its kind for NJ TRANSIT and will add additional non-farebox revenue over the course of the three year agreement.
“This unique advertising partnership represents a significant new source of revenue for NJ TRANSIT,” said NJ TRANSIT President & CEO Kevin S. Corbett. “This new and innovative partnership is part of our continued commitment to leverage NJ TRANSIT assets to maximize non-farebox revenue and help keep fares stable for our customers.”
“BetMGM is thrilled to announce this groundbreaking partnership with NJ TRANSIT. The creation of the BetMGM Meadowlands Rail Line generates unparalleled exposure to our leading iGaming brand, through station signage and rider volume – particularly on our favorite day of the week: gameday,” said BetMGM Chief Revenue Officer Matt Prevost. “New Jersey is our home and first market, and we see today’s announcement as an extension of our strong relationship with the state.”
NJ TRANSIT, through its advertising partner Intersection, entered into a comprehensive, multi-year advertising program with BetMGM. This program includes extensive print & digital advertising throughout the NJ TRANSIT system, as well as renaming the Meadowlands Rail Line, which operates between Secaucus Junction and the Meadowlands Station adjacent to MetLife Stadium for select events.
The newly branded BetMGM Meadowlands Rail Line is now appearing on the latest version of the NJ TRANSIT rail system maps which began deployment throughout the system last month and is available at njtransit.com by clicking HERE.
NJ TRANSIT is the nation's largest statewide public transportation system providing more than 925,000 weekday trips on 253 bus routes, three light rail lines, 12 commuter rail lines and through Access Link paratransit service. It is the third largest transit system in the country with 166 rail stations, 62 light rail stations and more than 19,000 bus stops linking major points in New Jersey, New York and Philadelphia.
About BetMGM
BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com/.
Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the SEC. Forward-looking statements are based on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the future results of BetMGM. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.