In a strategic move to expand its global footprint, MGM Resorts International has announced the launch of its renowned BetMGM brand in the UK. This launch, which is in collaboration with LeoVegas, marks a significant step in BetMGM’s international growth strategy. Interestingly, this expansion does not include Entain, MGM’s joint venture partner in the US.
Partnership with LeoVegas
The collaboration with LeoVegas is pivotal for BetMGM’s UK debut. LeoVegas, which was acquired by MGM Resorts last year for a whopping $604 million, brings its cutting-edge technology and platform to the table. This synergy is expected to provide a seamless gaming experience for the UK audience. Bill Hornbuckle, the CEO and president of MGM Resorts, expressed his enthusiasm about the launch, highlighting the brand’s proven track record in the sports betting and iGaming sectors. He believes that the new international platform will resonate well with the UK audience, given its tailor-made features and offerings.
Game Offerings and Features
BetMGM’s UK platform promises a plethora of gaming features tailored for its new audience. Among the highlights are frequent jackpots, loyalty rewards, exclusive slots, and enticing sports promotions. Gary Fritz, the president of MGM Resorts International Interactive, is optimistic about replicating the brand’s success from the US and Canada in the UK market. He emphasized the maturity of the UK’s online gaming sector and believes that BetMGM’s unique offerings will appeal to both sports bettors and iGaming enthusiasts.
The Absence of Entain
While BetMGM has been a joint venture between MGM Resorts and Entain in the US, the latter is notably absent from the UK launch. This development means that BetMGM will be competing directly with Entain’s prominent UK brands, including household names like Ladbrokes, Gala, and Coral. Instead of Entain, Kambi will power BetMGM UK’s sportsbook, extending a partnership with LeoVegas that dates back to 2016.
MGM’s Strategic Acquisitions
MGM Resorts has been proactive in bolstering its interactive capabilities. Following its acquisition of LeoVegas, MGM further strengthened its portfolio by acquiring the game developer and aggregator, Push Gaming, in May 2023. The acquisition added in-house slot studios to MGM’s arsenal. LeoVegas CEO, Gustaf Hagman, commented that these strategic acquisitions align with the company’s vision to dominate a significant portion of the industry’s value chain.
Speculation and Future Prospects
The dynamics between MGM Resorts and Entain have been a topic of speculation, especially after MGM’s acquisition proposal for Entain was rejected in January 2021. However, recent comments from MGM’s leadership suggest a continued commitment to their joint venture in the US. Bill Hornbuckle, during MGM Resorts’ Q4 2022 earnings call, emphasized the value in LeoVegas’ expansion capabilities and indicated that MGM had moved on from the buy-out idea.The launch of BetMGM in the UK is a testament to MGM Resorts International’s vision of global expansion. By leveraging its partnership with LeoVegas and offering a diverse range of gaming features, BetMGM is poised to make a significant impact on the UK’s mature online gaming market. However, the dynamics of its relationship with Entain and the future of its joint venture in the US will be interesting to watch in the coming months.