BetMGM App Goes Live at Nationals Park

Person Browsing a Sports Betting Site on a Tablet

The Entain-MGM Resorts owned BetMGM App went live in DC last Thursday, bringing the MGM brand to th D.C. sports betting market.

Said BetMGM CEO Adam Greenblatt in a statement:

“Launching in Washington, D.C. at Nationals Park sets the stage for our plans to expand BetMGM within the region, as we’ve already seen great success in Virginia. The Washington Nationals have been a fantastic partner, committed to innovating the in-stadium fan experience and we’re looking forward to opening our retail sportsbook at the stadium later this year.”

Part of Exclusive Partnership With Nationals

The launch of the BetMGM App is part of the exclusive partnership that MGM Resorts signed with the Washington Nationals five months ago. Under that agreement, BetMGM will also build a retail sportsbook connected to Nationals Park. That project is expected to launch later this year.

Meanwhile, the BetMGM App can now be downloaded by DC residents via Android or iOS. While the app can be downloaded and accessed throughout the region, wagers can only be placed within a two-block radius from Nationals Park, as per DC law.

Since the BetMGM App is integrated with MGM Resorts M Life Rewards Program, Nationals fans can redeem their gameplay for world-class experiences at all MGM properties across the United States.

Completing Presence in DMV

BetMGM’s mobile app launch in D.C. also completes its presence in the Washington Metroplex known as the DMV ( D.C.-Maryland-Virginia ).

Last January, the BetMGM mobile sports betting app launched in Virginia. BetMGM is also set to have a presence in Maryland where voters approved to legalize sports betting last year. MGM Resorts also operates the MGM National Harbor Casino in Oxon Hill, just outside of DC.

The BetMGM App is the second mobile sports betting app attached to a sports team in DC. Last summer, William Hill launched in the nation’s capital via its partnership with the Washington Wizards and Washington Capitals. Like BetMGM, wagers placed via the William Hill app have to be placed withing a two-block radius from the Capital One Arena.

BetMGM Inks Deal to Become LPGA’s Official Betting Partner

MGM Resorts Lawsuit
Almost three years after the U.S. Supreme Court struck down the 1992 Professional and Amateur Sports Protection Act, the LPGA has entered the gambling space.

On Wednesday, the tour announced a multi-year agreement with BetMGM to become its Official Betting Operator and Partner. LPGA senior vice president of global media distribution Brian Carroll said in a statement:

“As a leading sports and entertainment company and already a supporter of women’s golf, BetMGM is uniquely positioned to join the LPGA family as an Official Betting Operator. Sports betting and digital gaming are key elements of the future of sports, and BetMGM is on the forefront of both opportunities. We are happy to partner with them as we look to provide more opportunities for our fans to interact with the LPGA and learn about our incredible athletes.”

Engaging the LPGA Fanbase With BetMGM Products

As part of the agreement, BetMGM will feature LPGA betting odds in the online sportsbook’s betting menu alongside the PGA Tour, European Tour, and other global golfing events. Likewise, BetMGM will be given exclusive access to use the Official Tour Partner logo in connection with its advertising and promotion of their online sports betting products and services.

BetMGM chief revenue officer Matt Prevost said that his company looks forward to engaging the LPGA fanbase with its market-leading products. According to Prevost, BetMGM’s advanced betting technology will give LPGA fans a user-friendly experience and multiple betting options to choose from.

MGM Resorts’ Commitment to Golf

Through its partnership with MGM Resorts, BetMGM also has access to existing sponsorship relationships with some of the world’s best athletes who are in the LPGA. Existing MGM Ambassadors in the LPGA include Natalie Gulbis, Danielle Cang, Cristie Kerr, Alison Lee, Anna Nordqvist, and Michelle Wie West.

Earlier this year, MGM Resorts also partnered with the LPGA Tour for the latter’s first match play event since 2017- the Bank of Hope LPGA Match-Play Hosted by Shadow Creek. With the latest betting partnership with the women’s professional golf tour, MGM Resorts’ commitment to golf has been further strengthened.

BetMGM Washington DC App Expected to Launch Soon

Sportsbook
Sports betting enthusiasts in the Nation’s capital are excited as the BetMGM sports betting app in Washington DC is one the verge of its launch.

BetMGM’s upcoming presence in Washington D.C. is the fruit of the partnership it signed with the Washington Nationals last January. Under the agreement, the BetMGM app will only be accessible within a two-block radius within the Nationals stadium. Still, it’s a welcome addition to the growing sports betting industry in Washington DC.

Geofenced Sports Betting Apps

GameBet DC, operated by Intralot, currently offers the District’s only online sports betting app because the DC Council greased through a contract for its Lottery provider.

However, sportsbooks partnered with sports arenas are allowed to offer mobile legal Washington sports betting though these apps are geofenced two radius within its partner arena as well as retail shops in the vicinity of their partner stadiums. This is where BetMGM entered the D.C. sports betting scene.

William Hill has a retail sportsbook at the Capital One Arena which is already operational. It also launched its mobile app late last month. Meanwhile, the FanDuel retail sportsbook has set its opening at Audi Field to later this year. FanDuel is also slated to launch its legal Washington sports betting app within the same time frame.

Long Partnership With the Washington Nationals

MGM has a long partnership with the Washington Nationals. The two companies started their marketing partnership in 2017 when the team unveiled the MGM National Harbor Dugout Club, which is a small section of luxury field-level seats. MGM Resorts International is also MLB’s official gaming partner.

This summer, BetMGM is expected to launch a retail sportsbook located in the space currently serving as Center Field Social, across Center Field Plaza from the Nationals team store. The sportsbook won’t be accessible to fans watching the Nationals game but they will be able to place sports bet using the BetMGM sports betting app

The BetMGM app includes exciting options like parlay bets and in-game betting. It also has a wide variety of sports to bet on. It is expected to engage Nationals fans with the game in new and exciting ways.

BetMGM Offers Special Sports Bets at Buffalo Wild Wings

Closeup of Man Making Sports Bets on His Phone

BetMGM is offering a unique sports betting experience to customers who are physically present inside a Buffalo Wild Wings restaurant in select U.S. states. Using geolocation technology, sports fans can access custom promotions and bets when inside a Buffalo Wild Wings restaurant in Colorado, New Jersey, Indiana, Iowa, Tennessee, and Virginia.

Said BetMGM Chief Revenue Officer Matt Prevost:

“Our partnership with Buffalo Wild Wings is incredibly innovative and allows BetMGM to redefine how fans enjoy sports. The introduction of geolocation technology to offer bettors a customized experience in a Buffalo Wild Wings location is a great example of what we’re able to activate through this groundbreaking relationship.”

In-Bar Channel

At the same time, Buffalo Wild Wings also announced the launch of an in-bar channel dubbed as OT Odds Powered by BetMGM. The network will air on selected screens in participating sports bars nationwide. The channel will deliver sports betting contents such as live game odds, fantasy sports, and sports betting advice programs. 

In states where mobile sports betting is legal, a new and exclusive feature called Blazin’ Bets is now offered within the BetMGM app. This new promo has curated boosts, bets, and parlays available through a customer’s personal device. 

Picks and Props Upgrade

Buffalo Wild Wings’ free-to-play game Picks and Props, which is available via the company’s mobile app,  also received an upgrade in its design. The new features include a parlay-style gameplay with new BetMGM elements. BetMGM odds can be used to make picks from any state where free-to-play games are legal. Major Prizes are awarded monthly while select winners will be inducted to the newly created BWW Hall of Fame.

BetMGM and Buffalo Wild Wings entered into a strategic partnership in 2019. The agreement was the first of its kind between a gaming provider and a national sports bar. Since its launch,  there have been over 500,000 users who have played BWW and BetMGM free-to-play games.

 

BetMGM, BetRivers Go Live in Virginia

State of Virginia Made out of Money With Sportsbook Background
Online sports bettors in Virginia now have four operators to choose from.

FanDuel was the first to launch in Virginia last Thursday. DraftKings followed on Sunday, just hours before the NFL’s Conference championship games. This week, two more online sportsbooks followed with BetMGM and BetRivers launching on Wednesday, just in time for next weekend’s Super Bowl LV game.

When Virginia sports betting was legalized, the state agreed to cap the number of sports betting operators to 12 after receiving a total of 25 applications for license. The General Assembly tasked the Virginia Lottery to screen the applicants and with four already live, that means there are 8 on the way.

Third Virginia Sports Betting Operator

BetMGM became the third Virginia sports betting operator after getting its temporary permit to accept wagers last Sunday. The operator, which is a joint venture between MGM Resorts International and Entain Plc. now has presence in a total of 12 states, including 10 with online sportsbooks. As part of its latest offering, Virginia bettors will get access to the MGM Resorts M Life Rewards Program.

The Roar Digital operated sportsbook recently announced a partnership with Major League Baseball’s Washington Nationals. The partners plan to open a retail sportsbook at Nationals Park in Washington D.C.

Partnership With Rivers Casino

BetRivers meanwhile, received approval to launch Virginia sports betting on Tuesday. After going live on Wednesday, BetRivers now has a total of 8 mobile states. The company has a deal for market access via a new casino which Portsmouth voters approved in last November’s vote. BetRivers is one of three operators partnered with a Virginia casino.

Caesars/William Hill (Danville) and Hard Rock (Bristol) are the other two Virginia sports betting operators partnered with a casino. When all is said and done, the state will have a total of five land-based casinos. However, the cities of Norfolk and Richmond, who have sold land and have agreed to let the Pamunkey Indian Tribe build and operate a casino, have not yet announced the names of the would be operators.

BetMGM and Yahoo Sports Partnership Continues To Expand

Person Browsing a Sports Betting Site on a Tablet
The sports wagering partnership between the MGM-GVC venture BetMGM and the Verizon-owned Yahoo Sports continues to flourish as the U.S. sports betting industry continues to grow.

Said Yahoo Sports general manager Geoff Reiss in an interview last week:

“What Yahoo brings to the partnership is the largest base of the most qualified, predisposed, and passionate sports fans. We have the ability to provide frictionless and seamless integrations between the products.”

Although the COVID-19 pandemic has disrupted the original roll-out plan, the integration between these two giant companies has been seamless and both companies continue to come up with fresh ideas and new features.

New Features

The newest features include fantasy sports users in eligible stats being able to access player prop odds on the player card and players’ tab within several locations. Users are then able to place corresponding bets on BetMGM’s platform. Aside from that, BetMGM has also leveraged Yahoo’s fantasy scoring system by coming up with prop bets based on fantasy point totals.

For now U.S. sports betting enthusiasts in New Jersey, Indiana, West Virginia, Colorado, and Tennessee are able to use their Yahoo accounts to register and sign-in to their BetMGM accounts. After registering to their BetMGM accounts, these Yahoo Sports users can then make wagers via BetMGM without having to download the BetMGM App.

Exclusive Partnership

In October 2019, Yahoo Sports and BetMGM announced an exclusive U.S. sportsbetting partnership that was geared towards creating collaborative content experiences and live events for fans. At that time, BetMGM was active in only two states. But with Yahoo Sports’ over 60 million monthly users, the partnership was bound to be mutually beneficial for both parties. Today, BetMGM is live in seven states with still many in the pipeline.

With U.S. sports betting now legal and active in 19 states and Washington D.C. plus another six states expected to launch in 2021, the sports betting industry is at an all-time high in the United States and the Yahoo Sports-BetMGM partnership is capitalizing on the rapid development.

BetMGM Expanding

BetMGM has been expanding its business this year. It recently got a license to offer online casino and sports betting products in Pennsylvania with its casino gaming in the Keystone State expected to launch this month. BetMGM officials are hopeful that sportsbetting will follow.

The company also has marketing partnerships with the NFL teams Pittsburgh Steelers, Tennessee Titans, Las Vegas Raiders, Detroit Lions, and Denver Broncos. Reiss sees these partnerships as part of the “fluid nature” of the growth of U.S. sports betting.

MGM Resorts Announces $750M Public Offering of Senior Notes

Outside of MGM in Las VegasLast week, MGM Resorts International announced a $750M public offering of senior notes due in 2028. The move is seen as an act from MGM to boost its liquidity with the company suffering significant losses this year due to the COVID-19 pandemic.

Per an official statement from MGM:

“The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.”

An Increase From $500M

Last Thursday, MGM initially announced plans for a public offering of $500M in aggregate amount of 4.750% senior notes due in 2028 at par. The gambling company later upsized the original aggregate principal to $750M. The transaction is expected to close on October 13, 2020 but subject to customary closing conditions.

BofA Securities, Inc., J.P. Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., BNP Paribas Securities Corp., Citizens Capital Markets, Inc., Fifth Third Securities, Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. will act as joint book-running managers and Credit Agricole Securities (USA) Inc., Truist Securities, Inc., Comerica Securities, Inc. and Union Gaming Securities, LLC will act as co-managers for the proposed offering.

According to a press released from MGM, the company intends to use the net proceeds from the offering of the notes for general corporate purposes. This could include the refinancing of existing debts and investment in short-term interest-bearing accounts and/or securities.

Significant Losses

Last June 30th, MGM’s total indebtedness was valued at $11.4B. This included an aggregate of $3.7B at the MGP Operating Partnership and an outstanding balance of $2.5B at MGM China. The company’s liquidity was placed at $8.1B and these consisted of cash, cash equivalent, and amounts under its revolving credit facilities.

For the second quarter of 2020, MGM reported a net loss of $857M which was a stark contrast from the $43M income in posted for the period of April-June 2019. Likewise, diluted loss per share was at $1.67 as compared to earnings of $0.08 per share for the second quarter of last year. For the first half of 2020, MGM reported a total net loss of $50.4M. During the same period last year, the company posted a net income of $74.9M

The company is set to release its third quarter results later this month. But despite their casinos returning for operations after months of stoppage, the company is expecting significant losses due to the effects of the coronavirus pandemic and the subsequent imposition of health and safety measures.

BetMGM Doing Well

But while MGM’s land-based casinos have struggled due the pandemic, MGM’s online betting venture BetMGM is doing well and continues to show significant growth with punters shifting to online gamblig during these pandemic-hit times.

In a trading update released by GVC last week, BetMGM is performing better than expected so far for the current year. The estimated net revenue for 2020 is now in the vicinity of $150M-$160M. MGM’s betting app is now live in a total of 8 states and has captured a market of 17% in those areas.

MGM and GVC launched BetMGM in 2018 and relaunched it last year with a new platform. The new look seemed to work and aided by the pandemic, it has doubled its market share in Las Vegas to 22% from the start of the year through August 2020. In New Jersey, BetMGM also captured 10% of the market share in online sports betting and 24% of retail sports betting.

BetMGM Named Inks Sports Betting Deal With Tennessee Titans

Flag Of Tennessee
BetMGM became part of Tennessee Sport Betting history on Monday when it scored the first ever gambling partnership with a Tennessee professional sports team in the NFL’s Titans.

BetMGM, FanDuel, and DraftKings were the three sports betting operators who were given a conditional license by the Tennessee Education Lottery Board’s Sports Wagering Committee last September 23. The three gambling companies are slated to launch their online betting platforms on November 1st, pending the approval from the Tennessee Education Lottery Company.

Gil Beverly, Titans Sr. Vice President, Chief Marketing and Revenue Officer, said in a press release:

“We are thrilled to bring BetMGM to the state of Tennessee. BetMGM will deliver new experiences and levels of engagement to our fans and we’re excited to welcome them in as an official partner.”

Official Partner

As official partner, BetMGM receive brand visibility across the Titans’ different digital platforms. The BetMGM logo will appear in crucial parts of the live game including field goal attempts and video board replays.

BetMGM will also be the sponsor of a forthcoming raffle which will benefit the Titans Foundation. The betting company will likewise become the exclusive naming rights partner of the Titans’ Saint Thomas Sports Park television studio and Titans’ content shown throughout Tennessee.

The joint venture between MGM Resorts International and GVC Holdings first launched its sportsbook in New Jersey in July 2018. Also known for its online casino and poker services, the BetMGM app is now available for download in seven U.S. states.

Online Tennessee Sports Betting

Although brick and mortar casinos are still prohibited in the state, online Tennessee sports betting became legal on July 1, 2019 and it became such without the signature of Gov. Bill Lee who at that time did not believe that legalizing sports betting would be of the state’s best interest.

Tennessee sports betting is regulated by the state lottery officials who approved the rules last April and started reviewing applications for operators last June. The Tennessee Lottery board continues to review applications for additional sports betting operators, vendors, and suppliers. There is no limit as to the number of licenses the board can issue but they must meet specific requirements.

The law allows sports betting in Tennessee only via the internet, mobile devices, and telecommunications platforms. Bettors must at least be 21 years of age and they must be physically present within the state borders when their bets are placed.

Detroit Lions Name BetMGM as Their Official Sports Betting Partner

Detroit State Flag With the MGM Grand Detroit

The Detroit Lions announced on Thursday that they have entered into a sports betting partnership with MGM Resorts International and GVC Holdings. The join venture will make BetMGM as the Lions’ first and official sports betting partner and it comes just in time for the start of the 2020 NFL season later this month.

The agreement will make BetMGM as the official sponsor of Lions Bingo and Lions Perks. It also includes other “fan-focused assets” such as team broadcast programming, digital marketing assets, and in-stadium promotions and signages.

Said Detroit Lions President Rod Wood in a statement:

“The Detroit Lions historic relationship with BetMGM has been years in the making and we’re proud to announce details of our official partnership. We’re continuously seeking new ways to entertain and involve our fans which is especially important during such unusual times; this partnership with BetMGM will provide additional and exciting opportunities to engage our fans.”

Lions Bingo and Lions Perks

Lions Bingo is a free to play game which was introduced in 2019. The game, which is available via the team’s mobile app, is a bingo game where fans can guess what plays happen next or which stats the team can achieve during games for a chance to win non-cash prizes. With BetMGM as partner, Lions Bingo players now have a chance to take home cash prizes or all-expense paid trips to MGM Resorts properties across the country.

Lions Perks was introduced during the 2018 NFL season and it is the team’s rewards system for fans at their home games. Available also via the Detroit Lions’ app, Lions Perks cards can be scanned during in-stadium purchases to earn points and join sweepstakes. Points can either be redeemed for rewards or donated to the Lions’ charities.

Long Standing Partnership

While sports betting was passed into a Michigan law only in late 2019. BetMGM and the Detroit Lions have a long standing partnership that isn’t betting related. MGM Resorts’ MGM Grand is one of the three commercial casinos in Detroit and it has been the sponsor of the MGM Grand Detroit Tunnel Club at Ford Field, the home of the Lions.

BetMGM started operating a sports betting lounge at the MGM Grand Detroit on March 12. Three months later, BetMGM also entered into a similar sports betting pact with the Denver Broncos. Michigan and Colorado both entered the sports betting arena earlier this year.

BetMGM to Launch “Betting Across America” Show in Collaboration with VSiN

BetMGM in iPhone
BetMGM announced a partnership with the Las Vegas Stats and Information Network (VSiN) for a daily sports betting show starting next month. The show entitled “Betting Across America” will use the latest sports betting data and and analytics to provide expert betting commentary and insights from some of the most credible experts in the business.

Said BetMGM chief marketing officer Matt Prevost:

“VSiN has been a great media partner for BetMGM and we look forward to continuing to work with the VSiN team to produce engaging sports betting related content. By giving VSiN unprecedented access to BetMGM Sportsbooks, there will be no shortage of interesting story lines and excellent opportunities for betting enthusiasts and sports fans to get an inside peek.”

BetMGM recently got a $1B boost from the IAC earlier this month. The influx of new money is expected to help BetMGM increase its presence in the U.S. sports betting industry market and this TV deal with VSiN is seen as one of the first steps to achieving that.

Betting Across America

“Betting Across America” will be broadcast by VSiN will be broadcast live from the BetMGM studios in large sports betting markets across the country. Pending approval, it will air on weekdays from 3-5 pm ET/ 12noon-2pm PT starting August 31 and weekdays from 1-3 PM ET/10am-12noon PT beginning September 5th.

The show will feature BetMGM’s oddsmakers and experts who will be joined by VSiN’s top hosts including former NFL player and Las Vegas personality Mike Pritchard. Former NBC The Daily Line host Tim Murray and famed sports bettor James Salinas will also be among the VSiN personalities who will appear on the new show.

Aside from VSiN.com, sports fans and bettors can watch Betting Across America and VSiN’s other sports betting programs via Sirius XM, Comcast Xfinity, Sling TV, fubo TV, and RSN’s across the U.S. and Canada.

Sports Betting Going Mainstream

Since its legalization in the United States in 2018, Sport Betting has come a long way. Aside from new states following the lead of those before them, the sports betting industry has taken a major leap in 2020 and is going mainstream.

We have seen TV and sports betting provider relationships established recently. In January, Penn National Gaming finalized its purchase of Barstool Sports. CBS and William Hill formally announced their partnership in February.

Earlier this week, ESPN announced the opening of its Las Vegas Studio at the LINQ, where it will produce sports betting content in cooperation with Caesars Entertainment. Aside from moving its “Daily Line” show there, the collaboration is expected to come up with a new sports betting digital show this fall.