Mississippi-based sports fans, rejoice! There is now a way for you to place mobile bets on all of your favorite teams from the comfort of the Gold Strike Casino Resort in the Tunica Resorts area of Mississippi.
Recently launched via a partnership between BetMGM and Gold Strike, this move is one of many in recent months to expand the sports betting opportunities in various localities around the United States.
BetMGM & Gold Strike
BetMGM is a partnership between MGM Resorts International and Entain Holdings. It is a sports betting and online gaming operator in the United States and the exclusive sports betting division of MGM, both online and in MGM casinos nationwide.
Gold Strike Casino Resort: Tunica Hotel & Casino is an MGM Resorts International resort in Tunica, Mississippi. Rebranded in 1997, Gold Strike is a $125 million upgraded version of its predecessor, Circus Circus.
The Agreement
Since the US Supreme Court legalized sports betting in 2018, British firms have been working to launch operations within the United States. The only catch, however, is that US state laws require operators to have agreements on the books with local US partners.
The federal requirements apply to American corporations as well. That’s why in order for the on-site mobile sportsbook app to operate legally, BetMGM had to partner with Gold Strike, making the agreement official.
The On-Site Mobile Sportsbook App
This newly launched on-site mobile sportsbook app will allow sports fans to place pre-game, live in-play, futures, and parlay wagers from any mobile device while on Gold Strike’s casino floor. The app will utilize geolocation tech, thus allowing Gold Strike guests to place all sorts of bets and gamble from any mobile device while on the casino premises.
Fans of sports betting have already been able to place bets in-person via a land-based betting system at any of the BetMGM Book Bar & Grills in various casinos around the US. This new mobile app, however, provides a convenient way to not only place bets but engage with their favorite teams and earn reward points at MGM properties.
The app will be integrated with the MGM Resorts’ M life Rewards program, allowing users to earn points from gameplay that can be redeemed at Gold Strike and Beau Rivage in Mississippi, as well as the Bellagio and MGM Grand in Las Vegas, Nevada.
In a recent interview, BetMGM chief executive Adam Greenblatt announced, “We’ve had great success with the opening of the BetMGM Book Bar & Grill at Gold Strike and are thrilled to complement our retail offering with the launch of the BetMGM mobile app in Mississippi.”
M&A Upheaval
The announcement of the app launch comes at the same time as ongoing negotiations continue between DraftKings and Ladbrokes and Coral owner, Entain. In September of this year, DraftKings submitted a $22 billion takeover proposal of Entain and has been in a bit of a bidding war against Flutter-owned FanDuel to take over the online casino leader.
“It is Entain’s US sports betting venture with MGM that’s drawn DraftKings’ eye,” said Nicholas Hyett, an equity analyst at Hargreaves Lansdown. “Rapid growth in a market which is itself exploding makes Entain hot stuff. A subsequent spin-off or sale of more mature assets, as we saw with William Hill, would probably follow.”
The mergers and acquisitions legal departments will certainly be busy over the next few months, sorting out the details of what a takeover could mean for all parties involved. Entain alone is a behemoth of proprietary tech and licensing agreements, boasting gambling licenses in 27 countries, and 24,000 staff across five continents.
What Happens to BetMGM?
BetMGM is owned jointly in a 50:50 agreement with MGM and Entain. So, if such a takeover goes through, what would happen to the massive sportsbook enterprise? When asked about the potential takeover, MGM only said that it had no intention of selling its stake in BetMGM.
One possibility is that MGM could attempt a buyout of BetMGM to keep a key rival from owning half of its US sports betting business. In a recent statement, MGM did allude to the importance of maintaining control of BetMGM as an important strategic objective. It seems only the future can tell what the outcome will be in such a scenario.
Going Mobile
Wireless technology and sophisticated digital applications are reshaping our world and how we interact with it. The size, scope, and success of casino/sports betting companies enable them to help drive changes in the tech sphere, sometimes at a lightning pace.
With an uncertain economy and periodic worldwide lockdowns due to Covid-19, online gambling has increased in popularity. Over the last 18 months, with people stuck at home, demand for betting via online and mobile solutions has surged, leading to companies working to make multi-channel, user-friendly gambling applications to meet (and exceed) player expectations.
