The National Thoroughbred League (NTL) has promised to “redefine the landscape of sports entertainment” after announcing a new headquarters in Las Vegas.
The NTL launched earlier this year and pits racehorses against each other in teams as part of a league. This in turn simplifies the betting experience.
The move of headquarters has been made with the intention of taking advantage of Las Vegas’ growing role as a sports hub, as well as giving the NTL more opportunity to tap into strategic partnerships. The chance to grow its fan engagement also appealed to the NTL.
Tom Ludt, NTL president, stated: “We are thrilled to announce the relocation of NTL to the vibrant city of Las Vegas. This move represents a strategic decision to align our league with a community that shares our passion for sports and entertainment.
“Las Vegas provides an extraordinary platform for NTL to thrive, with a depth of talent in sports wagering and event management.”
Las Vegas’ growing importance in sport
November of this year saw Las Vegas host its first Formula One race. The Oaklands Athletics of Major League Baseball also announced they would be relocating to the city in the future.
The Athletics are following in the footsteps of the NFL’s Las Vegas Raiders in moving from Oakland to Las Vegas. The city is a growing part of the NFL’s plans, holding its draft there in 2022, while the Raiders’ Allegiant Stadium will host the upcoming Super Bowl in February.
The NTL is not the only company looking to place larger emphasis on Las Vegas, with BetMGM claiming 2024 will be the year it “unlocks” the city.
The Formula One race in November attracted 300,000 fans to Las Vegas. As a result, Bet MGM took three times the number of bets than any other F1 race in its history.
Bet MGM chief executive Adam Greenblatt highlighted the appeal of Las Vegas to its customer acquisition strategy.
“24 is the year we unlock Las Vegas,” Greenblatt said. “Why that’s important, is because recruiting a player in Vegas costs 27% of the cost of acquiring that player in the open market. They’re also more than 130% as valuable.”