During a recent Investor Day, BetMGM CEO Adam Greenblatt announced ambitious plans for 2024, including a major focus on Las Vegas. Despite owning 12 hotels within eight casinos in the city, BetMGM has been relatively inactive in this market since its 2018 debut. The coming year, however, is poised to witness significant change. The key strategy involves unifying the BetMGM app experience across Las Vegas and the nation, expected to boost business considerably.
Furthermore, BetMGM aims to enhance its integration with MGM Resorts and Marriott Bonvoy rewards, consolidating these into BetMGM Rewards. This integration is targeted to amplify growth and customer engagement.
Upcoming Launch of BetMGM App in Las Vegas
BetMGM is collaborating with Nevada gaming regulators to introduce a new app in Las Vegas by 2024. Although no specific launch date has been set, expectations are high for a release in the year’s first half. This app, aligning with those in other states, will mirror Caesars‘ recent upgrade of its Nevada app to match its national technology.
In line with Nevada’s unique in-person registration requirement for mobile apps, Las Vegas customers new to BetMGM will need to visit one of the various MGM Resorts properties to sign up. Additionally, BetMGM might soon venture into online poker in Nevada, with CEO Greenblatt hinting at increased online poker liquidity.
BetMGM in Las Vegas
Enhanced Player Engagement and Value
BetMGM reported a 17% market share in online sportsbooks and iGaming during the Investor Day. A key factor in this success is the implementation of a unified wallet across multiple jurisdictions, making multi-state players more active and valuable. BetMGM’s data shows that these customers are 2.5 times more active and 1.5 times more valuable than those in single states. Furthermore, players who engage in both online and land-based casinos are three times more valuable than those who patronize only one.
Synergizing Rewards and Marketing Strategies
BetMGM is leveraging its association with MGM Resorts to create a cohesive marketing strategy. With over four million unique visitors to MGM Resorts in Las Vegas and more than 40 million MGM Rewards members globally, the company is uniquely positioned. Customers visiting MGM Resorts can sign up for a BetMGM account and simultaneously enroll in BetMGM Rewards. This omni-channel approach allows customers to earn rewards both in Las Vegas casinos and online.
Looking ahead to 2024, BetMGM plans to convert rewards points from both MGM and BetMGM into Marriott Bonvoy points, offering added value to customers. This strategy is complemented by increased investments in major Las Vegas events like the Grand Prix and the Super Bowl, aiming to boost revenues and enhance the city’s sports betting landscape.
Enhancing BetMGM’s Online Casino Offerings
BetMGM is ambitiously expanding its online casino, which currently boasts a diverse array of 3,600 games. This impressive collection not only includes in-house creations but also renowned titles from land-based casinos, such as Aristocrat’s Buffalo and IGT’s “Wheel of Fortune” series. A key focus for the upcoming year is the growth of BetMGM’s proprietary game library and the addition of exclusive online titles from well-known slot machine brands.
Recently, BetMGM unveiled “NHL Gold Blitz,” the first NHL-endorsed online slots game, now exclusively available in New Jersey, with plans to extend its reach to other regions. Beyond increasing its gaming portfolio, BetMGM is intent on enhancing the overall user experience. A significant upgrade involves personalizing the platform, where the app intelligently recommends games based on users’ past activities.
A notable achievement for BetMGM this year has been the payout of over $125M in progressive jackpots. The company aims to continue growing these jackpots, leveraging its extensive global network. Furthermore, the casino experience will be enriched with player progression and accomplishment journeys, echoing features found in social online slots. This enhancement strategy is designed to provide players with a more engaging, rewarding experience, tying together the excitement of gaming with improved rewards and personalized interactions.
MGM’s Strategic Expansion and Innovation
MGM Resorts, in line with BetMGM’s growth strategies, is set to revolutionize its presence both online and in Las Vegas. The company is not just expanding its digital footprint but also reinventing the traditional casino experience. With a focus on integrating advanced technology and customer-centric services, MGM is poised to enhance its renowned resorts while simultaneously bolstering its online offerings. These efforts aim to create a seamless and interconnected gaming ecosystem, blending the excitement of Las Vegas with the accessibility of online platforms, thereby setting new standards in the casino and hospitality industry.
The future for BetMGM and MGM Resorts is marked by ambitious expansion and innovative strategies. With plans to intensify its presence in Las Vegas and enhance its online casino offerings, the company is navigating a path towards becoming a dominant force in both physical and digital gaming realms. By seamlessly integrating their online platforms with the legendary Las Vegas experience, they’re redefining the gaming industry, promising an exciting and transformative journey ahead for players and stakeholders alike.