NHL signs deal with betting company PointsBet

·1-min read
Brayden Point, of the Tampa Bay Lightning, the NHL's 2020 champions, is seen in January 2021 in North Carolina

The National Hockey League has signed a deal to take minority ownership in betting company PointsBet, while the Australian business will form an official betting partnership with the North American league.

PointsBet will be the league's official betting partner and be permitted to use the NHL name and brand its communications, according to a statement released Wednesday by the company.

The deal also allows the NHL to use PointsBet content -- such as odds and statistics -- during televised game broadcasts.

In exchange, the Australian firm will hand over some 43,000 shares to the NHL, a value of around $500,000, or less than 0.001 percent of the company.

The NHL has already made betting partnerships with companies such as MGM Resorts International, FanDuel and William Hill, though it has not taken ownership stakes in any of the other partners.

The US Supreme Court lifted the ban on sports betting in the United States -- which had covered almost the entire country for 25 years, with the notable exception of Las Vegas -- in May 2018.

Leagues had hoped that federal or state governments would subsequently require betting operators to buy their official statistics, but in the absence of legislation, some have signed deals directly with the betting companies.