Sponsored with pride by
5. MGM Resorts International
Financial Overview: While specific financial details for its digital operations outside North America aren’t disclosed, MGM Resorts made up 50% of the $1 billion in net revenue reported by the BetMGM joint venture in the first half of the year.
Strategy & Impact: As a leading online presence in North America, MGM’s acquisition of the LeoVegas Group and its various brands, including LeoVegas, BetUK, and GoGoCasino, has accelerated its international digital growth.
Geographic Expansion: Over the past 16 months, BetMGM has expanded using LeoVegas Group’s platform in markets such as the UK, the Netherlands, and Sweden. Brazil represents a potential gateway into other Latin American regions.
Influence & Leadership: The MGM brand and its iconic lion logo remain influential and widely recognized globally. This brand recognition gives BetMGM a competitive advantage as it enters new markets.
Marketing experts often refer to the ‘Rule of 7’, which posits that a consumer must encounter a brand’s message at least seven times before trusting it.
The LeoVegas Group, a Las Vegas-based MGM Resorts International subsidiary, appears to have adopted this approach, as demonstrated by its aggressive marketing campaign to boost BetMGM’s profile in the UK since 2023.
Slick TV and digital advertisements featuring Chris Rock are prominently aired around live sports and after the 9 pm watershed. The most recent campaign, called ‘Locker Room Speech’, was launched in October.
BetMGM also signed new partnerships with Newcastle United and Wolverhampton Wanderers over the summer and secured a training kit deal with Tottenham Hotspur. Additionally, MGM’s financial resources enabled BetMGM to become the title sponsor for the roving Premier League Darts earlier this year.
Drawing upon the legacy of one of the globe’s legendary gaming brands, the BetMGM service debuted in the Netherlands in April and expanded to Sweden in October. Brazil is likely the next stop since MGM established a “landmark” joint venture in August with Grupo Globo, Latin America’s largest media conglomerate, to pursue a license in Brazil. Powered by proprietary technology, the LeoVegas Group-operated BetMGM – distinct from the North American BetMGM joint venture with Entain – outsources pricing and trading.
In a strategic move to enhance its internal capabilities, LeoVegas Group acquired Tipico’s B2C US platform. Announced in June, the acquisition included Tipico’s US management and international tech and trading teams. LeoVegas Group stated the acquisition would lead to a “purpose-built proprietary sportsbook across all international markets and brands”.
Though Tipico ceased its US operations due to the acquisition, BetMGM, headquartered in Jersey City, holds an impressive third place with a 15% market share in the US and Ontario (22% market share for igaming specifically).
In September, BetMGM, now active in 29 North American regions, entered a multi-year agreement with USA Today parent company Gannett, becoming its “preferred” online sportsbook and casino collaborator.
If you’ve achieved the status of a Power 50 operator, ensure your attendance at the upcoming Power 50 Summit next April.
The article originally appeared on EGR Power 50 2024: 5. MGM Resorts International and was first featured on EGR Intel.
