BetMGM is a product of a strategic alliance between MGM Resorts International and GVC Holdings. Initially, the partnership focused its efforts on a successful launch into the New Jersey sports betting and online casino industry.
The group now has its site on further expansion in the rapidly expanding US gaming market. BetMGM just announced the launch of the first online casino in West Virginia. The initial game portfolio is limited to 30 titles. The BetMGM app can be downloaded on both iOS and Android devices.
The gaming lineup includes the highly popular slot MGM Grand Millions. It is known for game symbols representing various Las Vegas icons. Rollouts of BetMGM are also planned for online casinos in Pennsylvania and Michigan online casinos pending regulatory approval. These markets should be open by the end of 2020.
A more ambitious goal has BetMGM available in 11 different states heading into 2021. The initial investment between MGM Resorts and GVC Holdings to create the BetMGM brand was $200 million. The total investment moving forward is expected to reach $450 million according to Zacks Equity Research.
Revenue projections for BetMGM in 2020 are set at $130 million. Most of this revenue is tied to iGaming in the New Jersey online casinos market. This number was actually boosted by the land-based casino shutdown in Atlantic City due to the current situation. The projections for 2021 are much higher and expectations that online gaming revenue can grow to $8.5 billion by 2025 are not that far off base.
Another key initiative for BetMGM, besides the BetMGM bonus code, is the recent partnership with Evolution Gaming to expand into Live Casino services in the New Jersey market. This is a significant step forward to bridge the gap between land-based casino table games and live-dealer online versions.
New Jersey will be the initial market through the use of Evolution Gaming’s live New Jersey studio. Live Casino expansion into Pennsylvania and Michigan is also in the works. Evolution is expected to add live-streaming capabilities through a Live Casino studio in each state.
Evolution Gaming has grown to become the market leader in the global Live Casino segment. Along with popular versions of Blackjack, Roulette and Baccarat, the company has developed live gaming options for popular game titles such as Deal or No Deal and Monopoly.
The company website detailed plans of the new partnership with BetMGM. This also includes two sister brands in New Jersey: Borgata Online, offering the Borgota bonus code, and Party Casino. The portfolio of games will be supplemented by Ezugi Live Casino titles. That gaming company became part of Evolution Gaming in January of 2019.
This new agreement covers the entire US market. Evolution will power Live Casino services for BetMGM brands across the ever-expanding US landscape.