Entain has formed a "global innovation alliance" with Verizon, focusing on insights from research by YouGov that indicates technology significantly influences the behaviors of consumers in gaming and entertainment. The study highlighted social media's crucial role in enhancing consumer experiences and showed that the embrace of virtual reality and 5G technology is driving the growth of both gambling and esports.
The partnership will commence with the development of an innovative immersive experience described as a "first-of-its-kind" concept. This virtual reality product aims to merge live sports viewing with interactive elements such as real-time statistics and gaming features, enabling users to watch events, communicate with friends, and place bets through Entain’s platform.
Future concepts will explore other emerging technologies like 5G and augmented reality, all geared towards delivering new, realistic experiences for sports fans.
Entain’s CEO Shay Segev emphasized the necessity of anticipating consumer trends for the next five to ten years and collaborating with global entities committed to similar innovations. He envisions a future where people can connect at games using virtual reality headsets, allowing them to share experiences and compete during breaks.
This alliance builds upon an existing relationship between Entain and the BetMGM joint venture with MGM Resorts, as well as Yahoo Sports. Fans in regulated states can place bets through BetMGM inside the Yahoo Sports app, showcasing a seamless integration of services.
Verizon Media’s CEO Guru Gowrappan noted that this new alliance would elevate their collaboration, providing new opportunities in sports betting, content, and entertainment. He stated, "Together, we are building the next generation of content experiences for sports and gaming fans."
With cutting-edge 5G-enabled production studios in Los Angeles and London, as well as Verizon Media’s Immersive platform, they plan to create and distribute extended reality (XR) content at scale, allowing partners like Entain to enhance the immersive and interactive experiences available to customers.
This collaboration follows a strategic pivot by Segev to prioritize technology as a core component of the company's four-pillar strategy after taking over from Kenny Alexander. During plans to rebrand to Entain announced in November, Segev highlighted that technology would be crucial in expanding to new markets and improving social responsibility initiatives. Shareholders recently approved the rebranding, with 99.96% voting in favor of the change.
