BetMGM Establishes Position as Leading US Sports Betting and iGaming Operator
BetMGM, the 50/50 joint venture between MGM Resorts International and Entain plc, has grown into one of the top US online sports betting and casino operators, leveraging the MGM Resorts brand, Entain's technology platform, and a presence in virtually every licensed US sports betting and iGaming market.
Key Takeaways
- BetMGM is a 50/50 joint venture between MGM Resorts International and Entain plc (owners of Ladbrokes, Coral, Bwin)
- The joint venture was established in 2018, initially operating under the 'Roar Digital' name before rebranding to BetMGM
- BetMGM operates licensed sportsbooks in more than 20 US states and online casino in all licensed US iGaming states
- MGM Resorts' land-based casino properties in Las Vegas, Maryland, Michigan, and other states provide a retail integration advantage
- BetMGM's iGaming product operates in New Jersey, Pennsylvania, Michigan, West Virginia, and other licensed states
- Entain provides the technology platform and global gambling expertise through its existing digital gambling operations
Why It Matters — Players
Why It Matters — Operators
BetMGM has grown into one of the leading online sports betting and casino operators in the United States through the 50/50 joint venture between MGM Resorts International — the Las Vegas-based casino and hospitality giant — and Entain plc, the London-listed gambling group that owns Ladbrokes, Coral, Bwin, PartyPoker, and other major brands. The joint venture, originally established under the "Roar Digital" operating name in 2018 and subsequently rebranded as BetMGM, combines MGM's powerful land-based casino brand and physical presence with Entain's digital gambling technology and operational expertise.
The Joint Venture Structure
MGM Resorts International and Entain each hold a 50% stake in the BetMGM entity. MGM contributes its brand recognition, its network of land-based casino properties across the United States (including MGM Grand Las Vegas, Bellagio, MGM National Harbor, MGM Grand Detroit, and others), and its customer loyalty programme (M life Rewards). Entain contributes the technology platform, digital gambling products, and the technical expertise developed through running some of the largest online gambling operations in the UK, Europe, and internationally.
Product and Market Presence
BetMGM operates a full-service online sportsbook across more than 20 licensed US states, competing directly with DraftKings, FanDuel, and Caesars Sportsbook as one of the four dominant national operators. BetMGM also operates an online casino product (BetMGM Casino) in all states where iGaming is licensed, including New Jersey, Pennsylvania, Michigan, and West Virginia — making it one of the most comprehensively present operators across both the sports betting and iGaming segments.
The integration of BetMGM's digital product with MGM's land-based casino operations provides a differentiated experience for customers who are also MGM Resorts hotel guests or M life Rewards loyalty members. Customers can earn M life Rewards points for online sportsbook and casino activity in some markets, creating a cross-platform loyalty proposition.
Industry Context
BetMGM's dual parentage — a major US land-based casino operator and a leading UK/European digital gambling company — is a structure that has proven effective in the US market where land-based casino brand recognition and digital gambling technology both contribute to competitive positioning. The partnership model has provided both parties with US market access that would have been harder to achieve independently.
- Source:
- Reuters
- Published:
- August 1, 2023
- Original Article:
- View Source
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