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The MGM lion. Photo: Marc Sanchez/Icon Sportswire via Getty Images

The National Basketball Association has signed a sports betting sponsorship deal with MGM Resorts that could be worth up to $25 million, reports ESPN.

Why it matters: This is the first such agreement struck by a major pro sports league and a casino since the Supreme Court legalized sports betting in May.

It allows MGM to use league highlights, names, logos and its direct data feed for live betting with the NBA and WNBA. MGM will soon launch a mobile sports betting app and the league's properties will appear on the app, ESPN reports.

The NBA has been open to sports betting since 2014, but maintained that it deserved a piece of the pie for the content it provides. The league initially lobbied for integrity fee legislation that would deliver a cut of less than 1% of total bets made to the NBA.

It's unclear whether integrity fees are included in the three-year MGM contract, but the league is being similarly compensated. The American Gaming Association praised the compromise, saying such payments should be negotiated via contracts rather than mandated by legislators:

"We anticipate this is the first of many to come."
— Sara Slane, Senior Vice President of Public Affairs at AGA

Go deeper

28 mins ago - Health

Moderna says vaccine appears to protect against new COVID-19 variants

Photo: Justin Tallis/AFP via Getty Images

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.

Dave Lawler, author of World
Updated 34 mins ago - World

Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

Updated 1 hour ago - Politics & Policy

Dominion files $1.3 billion defamation lawsuit against Rudy Giuliani

Photo: Rey Del Rio/Getty Images

Dominion Voting Systems filed a defamation lawsuit against Rudy Giuliani on Monday seeking $1.3 billion in damages for his "demonstrably false” allegations about the company's voting machines.

Why it matters: Giuliani led former President Trump's efforts to overturn the results of the election and spread the baseless conspiracy theory that Dominion's voting machines flipped votes from Trump to Joe Biden.