MGM Resorts International are surely not in a vacation mood. The sportsbook operator made a formal public announcement about their new cooperation with the National Hockey League (NHL). Shortly after that, the casino operator announced their results from the third quarter in an earnings call.
And these weren’t the only big news. There is one more big announcement – MGM Resorts has become the official gaming associate of the New York Jets.
The Beginning of the New MGM Sportsbooks
2019 will be a busy year for the casino operator. Currently, there are MGM Sportsbooks in New Jersey, Nevada and Mississippi. The company is facing the beginning of their journey to expand their business by becoming a national sportsbook operator.
After the Q3 earnings call, the CEO of MGM Resorts, Jim Murren revealed the company’s plans to establish more sportsbooks in the states where sports betting is already legal. After acquiring the Ohio’s Rocksino and New York’s Empire City Casino, MGM’s CEO made wager analysts remember that having a casino isn’t necessary to provide sports betting.
Thanks to the company’s cooperation with Boyd Gaming, MGM has books in states where their partner has casinos.
Jim Murren also announced that they are moving on to their alliance with GVC and look forward to future profits. Adam Greenblatt was hired to be the executive director of the coalition.
After the earning calls announcement. the CEO of MGM revealed some details on the joint venture. Murren insured that the infrastructure is ready, and they are currently looking for office locations and recruiting staff. Sports content and JV partnerships are on the way too.
Starting from now, MGM Resorts’ Sportsbooks are about to increase their number very soon. During 2019, they will carry on with the expansion. By 2020, shareholders will most likely receive their investment profits.
MGM Resorts Sportsbooks Are Turning Into A Market Leader
Nothing goes better together than regulated sports betting during the football season. Sports betting is doing miracles for MGM Resorts in lately regulated states and in their casinos in Nevada.
Another interesting thing shared by Jim Murren is the fact that Atlantic City’s Borgata is making almost the same profit as MGM International’s Las Vegas casinos. And the properties in Tunica and Mississippi – Gold Strike and Beau Rivage are not an exception of this trend.
In September 2018, Mississippi bets on football brought about 4 billion, not to even mention the revenue profits. In the same month, 75% of all sports wagers in Mississippi are placed on football games.
MGM’s CEO eliminated the worry that regulated sports wagering outside Nevada will have a negative impact on their casinos in Las Vegas.Contrary, statistics showed that college and pro football bets have grown with 50% in the Sin City properties.
He didn’t linked this claim to the fact that currently there are less leisure travelers. However, this might be a thing to worry about in the future earnings call. But by that time they’ll have more statistics and will think of possible ways to eliminate this concern.
Does The Future Belong to MGM Resorts Sportsbook Betting Apps?
Tourists are finally starting to use the mobile sportsbook app of MGM Resorts, as the casino operator was the last to create and offer one in Nevada. Murren announced that 60% of football bets in Nevada were made online this season.
Although MGM Resorts International received the first local NJ casino bet, they were almost the last to have a mobile app. Now, besides their app for Android, there is also one for iOs devices available in Apple iTunes store. This step will definitely bring MGM Resorts Sportsbooks one step closer to their goals.
Up to this moment, online sports bets aren’t available in Mississippi. Mobile sports wagers will most likely be regulated in the state during 2019.