How Rupert Murdoch Changed Sports Media Forever
While leagues contemplate the where, when and how to bring back sports, MGM Resorts International is pitching Las Vegas as a potential location.
The New York Times detailed MGM’s pitch to leagues, including the NBA, WNBA, NHL and MLS, for a quarantined return that would bring the leagues to the Las Vegas area. The proposal includes a quarantined campus that would house players, staff, broadcast and service vendors.
On an earnings call on April 30th, MGM Acting CEO Bill Hornbuckle said, “We have been in an ongoing dialogue with leagues and other sporting activities around televised-only events — I think boxing, MMA, NBA, NHL, etc. — and we can host some of that.” MGM’s share price fell 11% on Friday after revealing a 29% year-over-year drop in earnings for the first three months of the year.
Las Vegas is desperate for an economic windfall as the tourism and convention industries have ground to a halt, March Madness betting dried up and it missed out on the NFL Draft. The city’s jobless rate is estimated to be at 25%, so any boost to the hospitality industry would be welcomed.
