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Madison Square Garden eyes entry into sports betting market

Madison Square Garden Company, which operates the iconic New York arena, looks to be preparing an entry into the sports betting market after it emerged that it has filed to trademark ‘MSG’ in the gambling space.

The Action Network website reported that a filing has recently appeared on the U.S. Patent and Trademark Office which outlines the company’s intention to trademark ‘MSG’ for “downloadable mobile applications for sports wagering, for organising, conducting, and participating in sports wagering tournaments, for providing information related to sports betting…”

The company has yet to make a formal announcement on the matter but the move seemingly signals its intention to tap into what is a rapidly growing sector in the US.

Sports betting remains illegal in New York but the framework for land-based, online and mobile sports gambling in the state is set to be debated later this year.

Madison Square Garden Company also operates The Forum in Los Angeles, along with yet-to-be-completed venues in Las Vegas and London, where sports gambling is legal.

New York’s Madison Square Garden arena is home to NHL team the New York Rangers and NBA basketball outfit the New York Knicks, while it also hosts music concerts and other events.

In a statement provided to Action Network, MSG said: “We have said we’re very interested in the opportunities legalised sports gaming could bring, and recognise that we have a brand, in MSG, that is recognisable around the world for its connection to iconic sports.”

Image: Anthony Quintano