The National Thoroughbred League (NTL) has vowed to “redefine the landscape of sports entertainment” after announcing a new headquarters in Las Vegas.

The NTL launched earlier this year and pits racehorses in teams against each other as part of a league. This in turn simplifies the betting experience.

The headquarters move was made with the intention of capitalizing on Las Vegas’ growing role as a sports hub and giving the NTL more opportunities to form strategic partnerships. The NTL also liked the chance to increase its fan engagement.

Tom Ludt, NTL President, stated: “We are pleased to announce NTL’s move 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 NTL with an exceptional platform to thrive, with extensive talent in sports betting and event management.”

The growing importance of Las Vegas in sports

The first Formula 1 race took place in Las Vegas in November of this year. Major League Baseball’s Oaklands Athletics also announced plans to relocate to the city in the future.

The Athletics are following in the footsteps of the NFL’s Las Vegas Raiders and moving from Oakland to Las Vegas. The city is playing an increasingly important role in 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 isn’t the only company looking to place a greater focus on Las Vegas. BetMGM claims that 2024 will be the year the city will be “opened up.”

The Formula 1 race in November attracted 300,000 fans to Las Vegas. As a result, Bet MGM took three times as many bets as any other F1 race in its history.

Adam Greenblatt, CEO of Bet MGM, highlighted the attractiveness of Las Vegas for its customer acquisition strategy.

“[20]24 is the year we unlock Las Vegas,” Greenblatt said. “This is important because recruiting a player in Vegas costs 27% of the cost of acquiring that player on the open market. Plus, they’re more than 130% just as valuable.”