August began with DraftKings becoming the first to bring online sports betting to New Jersey, but the month ends with MGM Resorts International and the Borgata doubling down with the launch of the PlayMGM sportsbook app.
As the second online and mobile sports betting product available to the New Jersey market, PlayMGM stands to benefit from early entry, while competing directly with DraftKings and its Resorts Casino Hotel licensing partner. MGM Resorts International is the owner and operator of Borgata, the premier casino in Atlantic City and one of seven licensed iGaming providers in the state.
In a public statement, Scott Butera – president of interactive gaming for MGM Resorts International – pointed to the company’s previous success in the Garden State:
“Beginning today, our loyal New Jersey customers can enjoy the convenience of mobile sports wagering on our playMGM NJ Sports mobile betting app.
Our partnership with GVC Holdings positions us as a leader in technology, accessibility and sports betting expertise.
We look forward to building on our success in New Jersey and expanding our sports betting offerings as the national leader.”
The Borgata licensing group ranked second among the seven iGaming operators in July casino/poker revenue with a $4,931,403, which trailed the Golden Nugget group ($9,328,814) by a wide margin, but beat all other competitors by just under $1 million.
Since the regulated iGaming industry went live in New Jersey, the Borgata group has generated more than $168 million in gaming win, second only to Golden Nugget ($213 million).
The launch of PlayMGM’s sportsbook component comes nearly 13 months to the day after the app went live in New Jersey offering casino games and poker.
Integrating an online sportsbook within the PlayMGM platform is just one of many moves MGM has made recently to capitalize on state regulation post-PASPA.
Back on July 29, MGM announced a partnership with U.K.-based iGaming conglomerate GVC Holdings – parent company of sportsbooks like Ladbrokes / Coral and SportingBet, along with online poker room PartyPoker. The pair put up $100 million apiece to fund a joint effort at penetrating newly emerging markets in American states which have legalized sports betting, or move to do so down the road.
Adam Greenblatt – director of corporate development and strategy for GVC Holdings – alluded to PlayMGM’s accelerated market entry in jointly issued press release:
“We are delighted to launch our new playMGM sports-betting app in New Jersey, and believe that the joint venture’s rapid entry into this market puts it in a very good position to take market share.
While time to market is clearly important, we are also focused on our proprietary product development roadmap which will see new features introduced quickly, and without 3rd party technology dependencies.”
On the same day, MGM also forged a deal with American casino operator Boyd Gaming which will see the companies team up on sports betting opportunities in 13 states outside of New Jersey and Nevada.
Although the initial launch of PlayMGM sports betting was available only on the Android operating system, an iOS equivalent is expected to follow “imminently.”
The GVC / MGM press release described the app as a comprehensive platform offering every wager found within the Borgata’s MGM-operated sportsbook:
“The playMGM NJ Sports app features a full range of U.S. and selected international sports with customers able to sign-up, deposit and withdraw cash directly from their mobile devices from any location in New Jersey.
The sports-betting app features a single wallet that enables existing and new customers to view their total account balance and easily apply available funds to their choice of sports-betting, casino or poker products.”