MGM Resorts and Boyd Gaming Partner for Sports Betting
The partnership will mostly be responsible for navigating through a patchwork of state laws and help support the emerging online and mobile gaming industry in the country. The deal will include sports betting as well as internet-based casino and poker services. MGM currently has casino properties in seven states. It will increase to eight next year when the acquisition of Empire City Casino in New York is completed.
A press release from the two companies suggests that each company’s market access will increase manifold through this partnership. It will also enable the two in competing more effectively with Caesars and Penn National, both of which are almost at par with MGM. The race to market supremacy between the threes could be very fierce from now on. Note that Caesars is present in 13 states while Penn National operates in 15 states.
Keith Smith, Boyd Gaming President, and CEO said that the gambling industry is evolving, and growth opportunities can be found in mobile and online gaming sectors. He added that a partnership with MGM Resorts would give Boyd a chance to exploit this opportunity by adding their presence in five more states and helping them get a more strategic advantage over other players in the online gambling market.
Jim Murren, MGM CEO called his collaboration with Boyd an ‘unprecedented partnership’ which will help them in engaging with over 30 million M life Rewards members across the US.
The announcement from MGM is very important for the gaming industry. Recently, they became the first official partners for NBA for sports betting for the league’s games. They also announced a partnership with GVC Holdings, a UK based sports betting behemoth which owns both PartyPoker and Ladbrokes Coral. The joint venture with GVC Holdings will bring $200 million from both partners to create world-class online gambling and sports betting platforms to the US.