MGM Resorts International has recently made a series of captivating new announcements, further solidifying its status as a leading figure in the sports betting market.
Despite MGM maintaining its standing through numerous physical locations in Nevada, the company is progressively becoming more competitive in the sports betting sector across other states.
Various companies are involved in the latest news on MGM.
- Boyd Gaming
- Holdings of GVC (including Ladbrokes Coral and Bwin.Party)
- (W)NBA
Recently, MGM collaborated with Boyd Gaming to broaden its online and mobile gaming reach. This partnership will allow them to penetrate an additional 15 states, four of which have already legalized online and mobile gaming. Furthermore, seven of these states are considering the introduction of sports betting by 2019.
This is the dominating presence of MGM and Boyd in the U.S.:
MGM
Boyd
- Nevada
- Mississippi
- Illinois purchasing property from MGM
- Indiana
- Iowa
- Kansas
- Louisiana
- Pennsylvania
- Ohio
- Missouri
Embracing the sports betting market
Boyd and MGM previously co-owned the Borgata Hotel Casino & Spa in Atlantic City, until MGM purchased Boyd’s shares in 2016 without any animosity. Now, Boyd’s purchase of the Valley Forge Casino for $280.5 million will be the gateway for MGM’s entry into Pennsylvania.
MGM and GVC Holdings partnered for a sports betting project worth $200 million. The two companies will share the project cost equally. GVC, the parent company of Ladbrokes Coral and home to Bwin.Party, will dedicate five states to sports betting platforms.
When MGM purchased Borgata, Boyd President and CEO Keith Smith discussed the partnership.
The gaming industry is progressing, offering growth opportunities through emerging gaming forms such as online and mobile gaming. The partnership with MGM Resorts allows Boyd Gaming the potential to extend its online presence in an additional five states. This positions us for considerable future growth as both companies assume leadership roles in the progression of our industry.
Becoming an official gaming partner
The NBA declared MGM as its first “official gaming partner,” in a press conference on July 31, with Commissioner Adam Silver and Jim Murren, CEO of MGM Resorts, despite significant opposition from other sports leagues so far.
MGM, which already hosts the NBA Summer League and owns the WNBA franchise, the Las Vegas Aces, acquired the Aces in 2017.
Murren made a statement at the press conference suggesting that mobile wagers for NJ sports betting might start soon, given that MGM has resorts in both Nevada and New Jersey. However, the launch has not happened yet.
Advocates for sports betting, who have been entangled in legal discussions about integrity fees, viewed this deal as a victory.
Sara Slane, the Senior Vice President of Public Affairs for the American Gaming Association, emphasized that sports betting deals should be conducted through contracts, not statutory obligations.
“She told Legal Sports Report that today’s announcement underscores the mutually beneficial relationship between casino gaming companies and sports organizations. We expect this to be the first of many such partnerships,”
This long-term collaboration will encompass the sharing of anonymized real-time data (alongside branding), integration with NBA platforms featuring exclusive digital content, and marketing on both the NBA platform, app and MGM Resorts’ sports betting platforms reciprocally.
Bringing in NBA data
The NBA remains committed to ensuring the integrity of the game and it seems to be in sync with MGM, a statement echoed by Silver in their press release.
“As the sports betting scene in the U.S. rapidly changes, we’re partnering with MGM Resorts, a recognized leader in the gaming industry. Our collaboration will leverage precise, real-time NBA and WNBA data to provide the best possible gaming and entertainment experience for users. Together, we’ll strive to uphold and improve the integrity of our games.”
Despite this, MGM has committed itself to excellent brands, market accessibility, and technology.
“We need top-notch technology and the finest in-game betting experience, something GVC provides,” Murren said. He continued, “Now that we have extensive data, analytics, and information from the NBA, it will determine the winners and losers in the US sports betting arena. I believe MGM is going to emerge victorious.” This statement was made at a press conference, as reported by Legal Sports Report.
Caesars accepting sports bets
Caesars Entertainment also intends to grow and make agreements, similar to MGM. They aim to establish a sportsbook and commence accepting wagers in New Jersey and Mississippi.
Furthermore, Caesars will transition its online and mobile sports betting to Scientific Games. By utilizing the OpenBet sportsbook technology from Scientific Games, Caesars can efficiently and rapidly launch its physical and digital sports betting platforms.
This is what Barry Cottle, the President and CEO of Scientific Games, stated:
We’re extremely excited to collaborate with Caesars to assist them in delivering top-notch sports betting experiences to their customers. Utilizing OpenBet, our strong and reliable sportsbook platform, Caesars will be equipped with a truly open platform and comprehensive product suite. This offers the most flexible solutions and has a track record of managing the majority of the world’s online bets, totaling over 2 billion annually. Our team at SG Digital is eager to help Caesars stay at the forefront, as they venture into expanding their sports betting, digital, and mobile offerings in newly regulated markets.
This agreement represents the first entirely American partnership, involving an American casino and an American software provider.
