EGR Power 50 2024: 5. MGM Resorts International

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5. MGM Resorts International

Financials: This operator doesn’t break down financials for its digital arm outside North America, yet it clawed in 50% of the $1bn in net revenue amassed by the BetMGM JV in H1.

Strategy & impact: A major online player in North America, the acquisition of LeoVegas Group and its brands – such as LeoVegas, BetUK and GoGoCasino – fast-tracked international digital expansion.

Geographic reach: In the past 16 months, BetMGM has been rolled out on LeoVegas Group’s platform in the UK, the Netherlands and Sweden. Brazil could provide a stepping stone into other Latam markets.

Influence & leadership: The MGM name and its roaring lion logo are powerful assets that resonate in most of the world. That brand trust provides BetMGM with a leg-up as it enters new territories.

It’s said within marketing circles that a consumer needs to see a brand’s message at least seven times before it earns his or her trust. The ‘Rule of 7’ is how it’s known.

LeoVegas Group, a wholly owned subsidiary of Las Vegas-based MGM Resorts International, has adhered to this rule judging by the marketing onslaught to amplify BetMGM’s presence in the UK since its arrival in 2023.

Glossy TV and digital ads fronted by Chris Rock remain ubiquitous around live sport and post the 9pm watershed, with the latest campaign starring the American comedian and actor, titled ‘Locker Room Speech’, released in October.

In addition, new partnerships were penned with Newcastle United and Wolverhampton Wanderers during the summer, along with a training kit deal with Tottenham Hotspur. The deep pockets of MGM were again put to good use earlier this year, when BetMGM landed the title sponsorship of the peripatetic Premier League Darts.

Leaning into one of the world’s most iconic gaming brands, the BetMGM offering was released in the Netherlands in April. In October, BetMGM launched in Sweden. Brazil could be next on the roadmap seeing as MGM formed a “landmark” JV in August with Grupo Globo, Latam’s largest media conglomerate, to apply for a licence in the country. LeoVegas Group-run BetMGM – not to be confused with the BetMGM JV with Entain in North America – is powered by proprietary technology, with pricing and trading outsourced.

However, LeoVegas Group sought to plug gaps in its in-house capabilities by gobbling up Tipico’s B2C US platform. The move, revealed in June, included taking on members of Tipico’s US-facing management, as well as international tech and trading teams. LeoVegas Group said the acquisition will create a “purpose-built proprietary sportsbook across all international markets and brands”.

While Tipico abandoned its journey Stateside as part of this sale, Jersey City-headquartered BetMGM occupies a podium position with a not-too-shabby 15% market share in the US and Ontario (22% for igaming specifically).

In September, BetMGM, which is live in 29 North American markets, forged a multi-year partnership with USA Today parent firm Gannett, becoming the media company’s “preferred” online sportsbook and casino partner.

If you are lucky enough to be ranked a Power 50 operator, secure your place at the Power 50 Summit next April.