Published on: December 30, 2024, 04:48h.
Last updated on: December 30, 2024, 04:48h.
BetMGM is set to take control as the operator of MGM Resorts International’s racebook and sportsbook operations at its physical casinos throughout the United States.
Essentially, BetMGM will be considered a “key employee” of MGM’s sportsbooks and will assume certain high-level responsibilities at those locations. BetMGM is a 50/50 joint venture between the casino giant and Entain Plc.
The expectation is that BetMGM will have certain high-level functions, including trading, customer service, risk and fraud, marketing, and payments. As the employer, MGM will be responsible for oversight and policy direction,” said BetMGM attorney Scott Scherer to CDC Gaming.
As part of managing MGM’s racebooks and sportsbooks, BetMGM will implement the house rules established by the different gaming properties.
Latest Developments from BetMGM
BetMGM had previously identified 2024 as a “year of investment,” and the news of its assumption of control at MGM’s physical sportsbooks is the latest in a series of recent activities at the iGaming and sports betting operator.
Earlier this month, BetMGM revealed the appointment of Casey Hurbis as chief marketing officer. Hurbis, who previously held the same position at Rocket Mortgage and has over two decades of experience in the automotive industry.
“Hurbis and BetMGM’s creative agency of record, Highdive, previously collaborated on three top-ranked Super Bowl campaigns at Rocket Mortgage, laying the foundation for even greater synergies and success at BetMGM,” according to a press release.
Last month, BetMGM streamlined its digital rewards program, ensuring that bettors can access their accumulated loyalty points in a single wallet rather than having to navigate through various state-specific wallets.
In August, BetMGM announced that digital wallets used by bettors could now be transferred across state lines. This means that clients who register for a BetMGM account in Las Vegas can use the same account in other states where the operator provides iGaming and sports betting services. The company is the first in the gaming industry to implement this feature.
Additional BetMGM Insights
The connections between BetMGM and MGM have been evident for some time, with some of the casino operator’s physical sportsbooks already displaying BetMGM branding. This indicates that BetMGM taking charge of those venues was more a matter of “when” rather than “if.”>
There have been ongoing rumors about MGM’s desire to control the iGaming/sports betting unit entirely, with speculation increasing earlier this year as activist investors pushed for changes at Entain. CEO Jette Nygaard-Andersen stated that joint ventures do not last indefinitely, but MGM has not publicly announced any intention to buy Entain out of BetMGM, nor has the UK-based company indicated any plans to sell that stake.
Regarding the day-to-day operations at MGM sportsbooks, BetMGM leads the way. However, in the event of significant issues arising, decisions on how to address those situations will be made by an executive at each casino, who will be an MGM employee, not from BetMGM.