UK-listed Entain is not involved in MGM Resorts’ expansion of its online offering into Europe.
UK.- The US casino giant MGM Resorts International has launched its BetMGM brand in the UK. In the US, BetMGM is run as a 50-50 joint venture with UK-based Entain, but Entain is not involved in the UK expansion, which will compete with the UK operator’s brands, such as Ladbrokes.
Instead, BetMGM uses the platform and technology of Swedish company LeoVegas, which MGM Resorts bought last year. Kambi will power the sportsbook through an extension of the agreement it’s had with LeoVegas since 2016.
MGM Resorts CEO and president Bill Hornbuckle said: “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.
“Today’s announcement represents a key step forward in our international growth strategy, which has been advancing rapidly since our acquisition of LeoVegas.”
BetMGM said its UK offering will include frequent jackpots and loyalty rewards. Gary Fritz, president of MGM Resorts International Interactive, said he was confident that the brand could repeat its North American performance in Europe.
He said: “We’ve had great success in the US and Canada with our BetMGM brand and we’re confident we can duplicate this success in other markets, beginning with the UK. 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.”
It remains to be seen what the move means for Entain and MGM Resorts collaboration in the US. In 2021, MGM Resorts looked set to make an offer to buy Entain, but it decided against making a firm offer. Hornbuckle says that MGM has “moved on” from its interest and that it is committed to the joint venture, adding that there was still work to be done on BetMGM’s product.
