Hall of Fame Resort & Entertainment Company Announces 10-year Mobile Sports Betting Agreement with Betr
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
CANTON, Ohio & MIAMI, Florida – August 11, 2022 – 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.
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.
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