Sports betting leader expands mobile platform outside of US mainland complementing retail sportsbook at Casino del Mar at La Concha Resort
BetMGM, a leading sports betting and iGaming operator, announced the launch of the BetMGM mobile sports betting app in Puerto Rico in partnership with Casino del Mar at La Concha Resort. Puerto Rico is the second market outside of the United States mainland for BetMGM’s mobile sports betting app.
“BetMGM is ecstatic to become the first operator to deliver mobile sports betting to Puerto Rico,” the Chief Executive Officer for BetMGM, Adam Greenblatt, said. “This great collaboration between local officials and Casino del Mar provides a safe, responsible and entertaining product accessible from anywhere on the island.”
The BetMGM app offers a user-friendly experience, giving Puerto Rico residents the ability to customize pre-game, live in-play, futures and parlay wagers. As part of the BetMGM mobile app registration process, customers in Puerto Rico will need to validate their identification in person at the BetMGM sportsbook located at the Casino Del Mar resort in San Juan. Integration with the MGM Rewards loyalty program allows residents in Puerto Rico to redeem their gameplay for world-class experiences at MGM Resorts properties nationwide including Bellagio, Aria and MGM Grand in Las Vegas, Beau Rivage in Mississippi, Borgata in New Jersey and MGM Grand Detroit.
BetMGM was the first operator to debut regulated retail sports betting in Puerto Rico when it was legalized in February of 2022. In December of 2022, Casino del Mar opened a permanent $3.5 million sportsbook and lounge featuring twelve self-service kiosks and five betting windows. Sports wagering is permitted in Puerto Rico on all sporting events including those that are professional, collegiate, Olympic and international. Wagering is permitted on electronic and eSports events as well.
“Today, Puerto Rico is once again at the forefront of the sports betting industry,” the General Manager of Casino del Mar, Sigfrido De Jesús, said. “In addition to being an attraction for sports fans, this will have a positive impact on the revenues of the Treasury. We are pioneers in the sports wagering industry and we are elevating sports to the next level by developing trustworthy and user-friendly technology tools. Creating this technological alliance with a company of BetMGM’s caliber has allowed both Casino del Mar and the government to learn about innovation in the betting industry.”
As BetMGM continues to expand to new jurisdictions, responsible gambling education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM’s mobile and desktop platforms, customers can receive the same GameSense experience they have grown to count on at MGM Resorts properties nationwide. This complements BetMGM’s already existing responsible gambling tools, which serve to provide customers with an entertaining and safe digital experience.
BetMGM Announces Kentucky Market Access Agreement with Revolutionary Racing
BetMGM, a leading sports betting and iGaming operator, and Revolutionary Racing Kentucky (RRKY) announced a new market access agreement allowing BetMGM to bring its online and retail sports betting platform to Kentucky once legalized sports betting launches. The companies also will open a retail BetMGM Sportsbook at Sandy’s Racing & Gaming.
“Kentucky has a rich history in sports and a passionate fan base. Revolutionary Racing is an ideal partner, enabling us to deliver an entertaining and responsible gaming experience, while investing in the state through job creation and tax revenue,” Adam Greenblatt, CEO of BetMGM, said.
BetMGM will offer online sports betting capabilities as soon as Kentucky’s regulated market commences and pending licensure and regulatory approval. Additionally, plans are underway to open a 5200 square-foot retail BetMGM Sportsbook this fall with RRKY at Sandy’s Racing & Gaming, a $75M gaming and entertainment facility in Ashland. Construction of Kentucky’s first quarter horse racetrack and equestrian center will follow on 182 acres adjacent to Sandy’s, with the first races launching in 2025.
“We promised to bring a world-class facility to Ashland and wanted a world-class partner for online sports wagering across the Commonwealth and at our sportsbook lounge. We’ve got that with BetMGM,” Prentice Salter, CEO of Revolutionary Racing, said.
Responsible Gambling Council Approves BetMGM for Top Accreditation
BetMGM recognized for its responsible gaming initiatives
BetMGM announced today that it has received one of the industry’s top accreditations from the Responsible Gambling Council (RGC) for the responsible gaming and player protection protocols incorporated into its North American platforms and operations. This achievement demonstrates BetMGM’s commitment to responsible gaming, player health and safeguards.
RG Check is regarded as one of the industry’s most comprehensive and rigorous responsible gaming accreditation programs. The program validates organizations that have implemented robust responsible gaming policies and practices. The accreditation process involves a thorough evaluation of an organization’s responsible gaming program including its policies, procedures and training platforms.
“We are proud to have received this prestigious RG Check certification,” the Chief Executive Officer for BetMGM, Adam Greenblatt, said. “This accreditation is a testament to our ongoing efforts to promote responsibility throughout our business and to ensure the well-being of our customers. We will continue to work closely with the RGC and other industry partners to promote a culture of safe and enjoyable gambling.”
To achieve RG Check accreditation, BetMGM underwent a rigorous evaluation process, which included a review of its responsible gaming policies and procedures, staff training and player protection measures. The evaluation was conducted by RGC’s team of experts, who assessed the effectiveness of BetMGM’s responsible gaming program and provided recommendations for improvement based off established standards and criteria. BetMGM’s United States, Ontario and Borgata Online labels were subject to the accreditation.
“Congratulations to BetMGM on achieving the RG Check accreditation for all of its North American platforms,” the Chief Executive Officer for the RGC, Shelley White, said. “This accomplishment is a clear demonstration that BetMGM has a strong commitment to responsible gambling and player safety. We commend BetMGM for its dedication to promoting responsible gambling practices and its efforts to ensure the well-being of their players.”
As BetMGM continues to expand to new jurisdictions, responsible gaming education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM’s mobile and desktop platforms, customers can receive the same GameSense experience they have grown to count on at MGM Resorts properties nationwide. This complements BetMGM’s already existing responsible gaming tools that serve to provide customers with an entertaining and safe digital experience.
BetMGM Publishes FY2022 Business Update
BetMGM joint owners MGM Resorts and Entain plan to pump another $150m into the company in 2023, amid an update on BetMGM’s FY2022 performance.
The operator said in a trading update that it finished FY2022 with a net revenue of $1.44bn, ahead of prior guidance of over $1.3bn. It is aiming to achieve net revenue from operations of between $1.8bn and $2bn in FY 2023.
BetMGM said it expects EBITDA loss of approximately $440m, in line with prior guidance – and expects to bring EBIDTA positive in the second half of 2023.
Key to the results were higher gross gaming margins resulting from improved customer experience and other product improvements, as well as the fact that Q4 2022 online sports net revenue margin has doubled compared to Q4 2021.
BetMGM expanded its online footprint in 2022 with launches in six US states including Kansas and Maryland, while in January this year it moved into Ohio. Four new retail sportsbooks were also opened.
Adam Greenblatt, chief executive officer of BetMGM, said: “2022 was a year in which we delivered against many key strategic initiatives and achieved several company milestones, including exceeding our financial targets, launching a redesigned BetMGM mobile app and furthering our commitment to responsible gambling.
“With continued and unwavering support from our shareholders, we look to 2023 confident in achieving further key milestones, including $1.8bn to $2bn in net revenue from operations and being EBITDA positive in the second half of 2023.”
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