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BetMGM Launches its Live Betting Platform in the UK
MGM Resorts International, a prominent player in the land-based gaming industry, has taken a significant stride towards global expansion by introducing its iGaming and online sports betting platform, BetMGM, in the United Kingdom. This move marks a pivotal moment for the US-based brand as it steps onto the international stage, presenting a crucial element of its overarching strategy.
A New Chapter in International Growth
Bill Hornbuckle, CEO and President of MGM Resorts, expressed enthusiasm about the brand’s expansion, stating, “BetMGM has a proven track record in the sports betting and iGaming realm, and we are thrilled to extend a warm welcome to international players through our tailor-made platforms. This announcement signifies a significant advancement in our global growth plan, a trajectory that gained momentum following our acquisition of LeoVegas.”
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MGM Resorts solidified its international standing through the acquisition of LeoVegas, a prominent Swedish gaming company renowned for its technological prowess and platform excellence. The recent UK launch of BetMGM introduces an array of enhanced product features, including frequent and substantial jackpots, loyalty incentives, exclusive sports promotions, and a diverse selection of slots. The platform is currently accessible via desktop and mobile web, with plans underway for the release of mobile applications in mid-September.
Charting the Course for Success in the UK Market
The partnership between BetMGM and LeoVegas forms a cornerstone of this new UK venture. LeoVegas, boasting a workforce of over 1,000 individuals across Europe, offers an extensive range of Uk online casinos, live casino, and sports betting options through its array of ten brands in nine different jurisdictions. It’s worth noting that this UK expansion is distinct from MGM’s collaboration with Entain, which primarily focuses on the North American market.
Unlike the BetMGM joint venture with Entain, this international push leverages proprietary technology developed in-house, a departure from the technology utilized in the US and Canada. This strategic approach aligns with BetMGM’s intention to embark on an independent international expansion, indicating a clear commitment to diversification and innovation.
Positive Q2 earnings and promising results during the first half of the year have stirred speculation about a potential BetMGM takeover of Entain. While these discussions unfold, BetMGM remains optimistic about the latter half of 2023.
As BetMGM takes its inaugural steps into the UK market, the brand aims to amalgamate the allure of the BetMGM name with the world-class entertainment that characterizes MGM Resorts Las Vegas, ensuring a secure, immersive, and captivating online gaming experience.
The United Kingdom’s online gambling market, valued at $7.8 billion US in 2022, has captured BetMGM’s attention. Gary Fritz, President of MGM Resorts International Interactive, expressed confidence in the brand’s ability to replicate its success in the US and Canada within the UK market. Fritz emphasized, “The BetMGM brand is poised to resonate profoundly with both sports enthusiasts and iGaming connoisseurs in the mature UK online gaming landscape.” Projections for the UK online gambling market indicate robust growth, with an estimated value of $11 billion by 2028, reflecting a projected compound annual growth rate of 5.4% spanning from 2023 to 2028.
