July 31, 2018 / 7:22 PM / 3 months ago

MGM Resorts signs sports betting agreement with NBA

(Reuters) - MGM Resorts International (MGM.N) said on Tuesday it signed an agreement with the NBA to become the basketball league’s first sports betting partner.

Jun 8, 2018; Cleveland, OH, USA; Golden State Warriors guard Stephen Curry (30) shoots the ball against Cleveland Cavaliers forward LeBron James (23) in game four of the 2018 NBA Finals at Quicken Loans Arena. Mandatory Credit: Gregory Shamus/pool photo-USA TODAY Sports

The multi-year deal with the NBA and WNBA will allow the casino chain to use their official names, logos and data streams across its hotels.

The agreement is for three years and at least $25 million, ESPN reported.

MGM shares rose 2.5 percent in late afternoon trading.

Reporting by Uday Sampath in Bengaluru

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