BetMGM and Revolutionary Racing Kentucky (RRKY) have partnered for a new market access agreement.
The agreement will see BetMGM offer its online and retail sports betting platform to Kentucky’s market, once sports betting becomes legalised in the state.
Retail sports betting will go live on 7 September, followed by online betting on 28 September.
Read the full story on iGB North America
The six online operators approved to launch mobile sports betting offerings in Massachusetts – FanDuel, DraftKings, WynnBet, Barstool, BetMGM and Caesars – have gone live in Massachusetts.
More than six months on from when then-governor Charlie Baker signed House Bill 5164 into law, players have begun placing bets from the six online operators licensed by the Massachusetts Gaming Commission (MGC) – joining the now majority of US states that have legalised the activity.
The rollout follows the launch of retail sports betting towards the end of January, that permitted any land-based casino or racetrack operator to apply for a licence.
“The debut of sports betting in Massachusetts has delivered an incredible amount of excitement and activity to our retail sportsbook at MGM Springfield,” said BetMGM CEO Adam Greenblatt. “We’re proud to expand our best-in-class wagering experience statewide during one of sports’ biggest months of action.”
Role of sports fans
President of Caesars Digit..
BetMGM has been named as the official sports betting partner of MLB team the Boston Red Sox.
This announcement precedes the launch of mobile sports betting in Massachusetts. It marks the first sports betting partnership for the Red Sox, as well as BetMGM’s first tie to a Massachusetts sports team.
“The Red Sox are one of baseball’s most beloved organizations and we’re thrilled to bring BetMGM to their passionate fans,” said Matt Prevost, chief revenue officer at BetMGM. “We look forward to working together to elevate the gameday experience in Boston.”
As part of the deal, BetMGM promotional material will appear at Fenway Park. Fenway Park’s left field wall, coined “Green Monster”, will display BetMGM signage.
Branded content will also be distributed across both BetMGM and the Boston Red Sox’s social media accounts.
BetMGM will also have a suite at the stadium. The operator plans to execute VIP fan experiences in the suite, including batting practice access, ceremonial first pitc..
The Pennsylvania Gaming Control Board (PGCB) has fined Mountainview Thoroughbred Racing Association and BetMGM for accepting bets on an unapproved sporting event.
The sanction was confirmed after the regulator approved a consent agreement presented by the Board’s Office of Enforcement Counsel (OEC).
The agreement was the result of negotiations between OEC and Mountainview Thoroughbred Racing Association, operator of Hollywood Casino Morgantown in Berks County, and its sports betting partner BetMGM.
The $7,500 fine was levied when BetMGM accepted and paid out wagers on the Victor Belfort v Evander Holyfield boxing contest on 11 September 2021 after the PGCB said that it had “specifically notified all operators that wagering on this event would not be permitted”.
In total, 76 wagers were accepted by BetMGM, according to the watchdog.
Last month, the PGCB fined Parx Casino $10,000for allowing an 18-year-old to access the casino and gamble at gaming tables.
The regulator said casino ..
Maryland’s online sports betting market is officially live, with seven operators now active in the state as of today (23 November).
Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel and PointsBet can now accept wagers in the state.
Caesars and DraftKings launched before the regulated market officially opened, in preparation for the imminent commencement.
Read the full story on iGB North America
BetMGM has become an official sports betting sponsor of the Cincinnati Reds baseball team.
The sponsorship precedes the launch of legalised sports betting in Ohio, which will take place on 1 January 2023.
The bills that introduced sports betting in the state – Senate Bill 176 and House Bill 29 – were introduced in May 2021. Eventually, an evolved version of House Bill 29 made it to Ohio’s state House and Senate, where it was passed.
Read the full story on iGB North America
BetMGM has marked its entry into the Kansas sports betting market by partnering with the Kansas City Chiefs.
The state’s sports betting market went live on 1 September, with six operators having been licensed to offer their services.
BetMGM debuted in its 24th market across North America, and also announced its partnership with the National Football League’s (NFL) Chiefs ahead of the new season.
To read the full article, visit iGB North America.
BetMGM has expanded its strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.
Under the multi-year agreement, BetMGM’s trading team and experts will provide insight during a number of SportsGrid programs such as including Ferrall Coast to Coast, Pro Football Today and In-Game Live Primetime.
BetMGM’s odds and promotions will feature throughout Ferrall Coast to Coast, while its content will also appear on other shows broadcast by SportsGrid.
In addition, SportsGrid’s lead pro football analyst Warren Sharp will deliver reports from MGM Resorts properties including MGM National Harbor in Maryland.
The reports will be distributed over SportsGrid’s multi-media content platforms including the video streaming network, website, digital syndication publisher network and both BetMGM’s and SportsGrid’s social media properties.
The expanded deal builds on an initial strategic partnership announced in February of this year.
“We are thrilled to be expanding..
BetMGM chief financial officer Gary Deutsch said the business would continue to adopt a “conservative” approach in New York until the state’s “irrational” tax environment changes.
During its latest investor day, BetMGM reiterated its net revenue guidance for 2022 of $1.3bn (£1.06bn/€1.25bn), up from $850m in 2021. Executives also said BetMGM’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the year should be similar to 2021, when the business reported an EBITDA loss of $430m.
However, chief financial officer Gary Deutsch noted that there was a change in the portions of this $1.3bn produced by different states.
“Within this guidance, the revenue mix is different than previously expected,” he said. “We expected lower New York revenue and higher revenue in our other online sports and igaming states.”
Deutsch then went on to outline why BetMGM had taken few steps to establish a foothold in New York. During April, the operator reported $5.0m in revenue from $1..
A proposition to allow online sports betting in California – but with licence fees of up to $100m – will to appear on the state’s ballot this November.
Flutter chief executive Peter Jackson confirmed that the measure – backed by Flutter’s FanDuel brand, as well as DraftKings and BetMGM – was set to appear on the ballot this November, having gained more than the required 997,139 signatures.
“We’re very excited abut the Californian situation,” he said. “Clearly getting to this stage was not straightforward but we’re very, very happy to be on the ballot.”
These signatures must still be verified, though the measure reportedly has enough signatures that this is expected to be a formality. If it appears on the ballot and is approved by a majority of voters, it will become law.
The measure is titled the California Legalize Sports Betting and Revenue for Homelessness Prevention Fund Initiative (2022), as 85% of tax proceeds will gowards reducing homelessness. Sports wagering will be taxed ..
