BetMGM Now Live in the UK
Posted on: August 17, 2023, 02:03h.
Last updated on: August 17, 2023, 07:34h.
MGM Resorts International announced the launch of its iGaming and online sports betting brand BetMGM in the United Kingdom on Thursday. It’s the first international expansion for the US brand and part of a larger strategy.
“BetMGM is a proven brand in the sports betting and iGaming space, and we look forward to welcoming international players into our platforms designed specifically for them,” said MGM Resorts CEO and President Bill Hornbuckle. “Today’s announcement represents a key step forward in our international growth strategy, which has been advancing rapidly since our acquisition of LeoVegas.”
MGM Resorts, a land-based gaming giant, acquired the Swedish gaming company LeoVegas and its technology and platform last year for $604 million.
The new UK offering includes new product features, according to Hornbuckle, including frequent and large-scale jackpots, loyalty rewards, exclusive sports promotions, and slots. The product is currently available for desktop and mobile web, with mobile apps planned for mid-September.
Partnerships and Geography
BetMGM and its new UK foray features its partnership with LeoVegas, which is currently growing and employs more than 1,000 people in Europe. It offers online casino, live casino, and sports betting via 10 brands in nine jurisdictions.
The UK launch isn’t related to MGM’s partnership with Entain, which is focused on North America. Instead, the launch marks the start of BetMGM’s international expansion plans utilizing in-house technology not shared with the US and Canada operations of the BetMGM joint venture with Entain, which continues to be powered by Entain technology.
As reported by Casino.org, there’s been talk of a BetMGM takeover of Entain, particularly after reporting positive Q2 earnings and results for the first half of the year.
Projections from the company are also positive for the back half of 2023.
As for the UK launch, the company says the new sports and casino experience leverages the BetMGM brand and best-in-class traditional entertainment from the MGM Resorts Las Vegas category to deliver an engaging and secure online experience.
Attraction to the UK Market
The United Kingdom online gambling market was valued at $7.8 billion US in 2022.
We’ve had great success in the US and Canada with our BetMGM brand, and we’re confident we can duplicate that success in other markets, starting with the UK,” said Gary Fritz, president of MGM Resorts International Interactive. “The UK is a mature online gaming market and we believe the BetMGM brand will provide distinct relevance to both sports bettors and iGaming consumers,” concluded Fritz.
Projections of the UK online gambling market growth remain strong, with an $11 billion value by 2028. That’s a projected compound annual growth rate of 5.4% between 2023-2028.
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Source: casino.org
