As per the terms of the deal, HOFV will acquire limited equity interest in Betr, with revenue sharing and opportunities for cross-marketing and engagement with consumers of both companies.

HOFV President and CEO Michael Crawford said: “This partnership amplifies two of our key business verticals in gaming and media, to further our strategic goal of continually creating new and unique sports content, and experiences for our fans and guests to enjoy.

“Betr positions our company to obtain the necessary licences to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders.”

The launch of Betr was announced this month by social media personality Jake Paul and Simplebet Co-Founder Joey Levy, with the app offering a direct-to-consumer micro-betting sports betting platform.

Levy said: “We are excited to partner with HOFV on launching the world’s first micro-betting focused app in Ohio.

“Our differentiated product, combined with our sports media company built for the next generation of sports fans, along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country, makes us confident this will be a successful partnership.

“We are also pleased HOFV has taken an equity position in Betr as part of this agreement – enabling us to preserve cash while providing HOFV upside in Betr’s success.”

In March, HOFV named Rob Borm as EVP of Gaming, as the company looked to take advantage of “significant revenue opportunities within the gaming sector.”