BetMGM, a subsidiary of the MGM Resorts International, is now live in the iGaming space in the UK. Last year, it acquired Swedish online gambling company LeoVegas for a massive $604 million! LeoVegas is already licensed to operate in the UK, paving BetMGM’s way into the already saturated market.
MGM Resorts is a US-based gambling giant with 31 resorts around the world. The resort franchise also operates as Beau Rivage, Borgata, Gold Strike, Bellagio, Circus Circus, etc. destinations across the country.
The partnership with LeoVegas is BetMGM’s first international venture into the world of online gambling.
Bill Hornbuckle, the CEO and President of MGM Resorts, said, “BetMGM is a proven brand in the sports betting and iGaming space, and we look forward to welcoming international players into our platforms designed specifically for them.
Today’s announcement represents a key step forward in our international growth strategy, which has been advancing rapidly since our acquisition of LeoVegas.”
BetMGM will offer all major components of online casino UK gambling, including jackpots, sports promotions, online slots, loyalty programs, etc. During the early days of the launch, players can access these components via desktop and mobile websites.
MGM also has plans for mobile apps, destined to flood the market in mid-September of this year.
BetMGM’s British partner, LeoVegas, is a fast-growing brand with over 1,000 employees across Europe. It’s licensed to accept players from 9 jurisdictions. The acquisition has the potential to put BetMGM on Europe’s gambling radar in the coming years.
Along with the existing products, BetMGM also promises an “MGM Resorts Las Vegas Category” on the gambling site, allowing British gamblers to explore the ways of America.
The authorities at MGM are also in the talks of acquiring Entain if Q2 earnings meet expectations.
The interest of large-scale businesses to explore the UK market does not come as a surprise as the gambling market was valued at $7.8 billion in 2022. Experts project that the industry will reach the $11 billion mark by 2028.
The UK is undoubtedly a faster-growing market compared to the US and Canada, intriguing big names like MGM to explore the opportunities. The president of MGM Resort International Interactive, Gary Fritz, said, “The UK is a mature online gaming market, and we believe the BetMGM brand will provide distinct relevance to both sports bettors and iGaming consumers”.
We can expect an influx of international operators thanks to the favourable legislation by the government and flexible tax laws in the near future.