A marquee legal sports betting operator is bringing its business to Europe.
MGM Resorts has launched BetMGM in the United Kingdom as part of its parent company’s plan to expand into international markets. The sportsbook — which also offers iGaming — is powered using the technology of Swedish online gaming company LeoVegas.
MGM Resorts purchased LeoVegas in September 2022 in a deal valued at roughly $604 million. MGM Resorts now has market access to nine jurisdictions across Europe and Canada, and BetMGM's operations in North America are facilitated by Entain — an international gaming group that is part of a joint venture for the sportsbook along with MGM Resorts.
"We've had great success in the U.S. and Canada with our BetMGM brand and we're confident we can duplicate this success in other markets, beginning with the UK," said MGM Resorts International Interactive president Gary Fritz in a statement. "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."
Users of BetMGM in the UK have gained access to exclusive sports betting and slot promotions. Loyalty rewards and jackpot opportunities are also available for frequent users of the growing sports betting and iGaming brand. Those users are able to access BetMGM via desktop and mobile web with an app launching sometime next month.
Best start yet
According to Entain’s 2023 interim results, BetMGM reported $944 million in net gaming revenue in H1 2023, up 55% compared to last year. Entain — which also owns international online betting sites Ladbrokes, Optibet, and SuperSport — projects BetMGM to generate roughly $1.8 billion in total revenue in FY2023.
As of August, BetMGM has sports betting licenses in more than 20 states in the U.S. Those jurisdictions include Arizona, Colorado, Illinois, Michigan, New Jersey, and New York — America’s largest online sports betting market.
BetMGM is also planning to launch sports betting operations in Kentucky. Earlier this month, the sportsbook announced a deal with real estate group Revolution Racing Kentucky to offer sports betting in the Bluegrass State. BetMGM will begin offering retail wagering in Kentucky on September 7, while mobile betting debuts on September 28.
