Borgata gets the go-ahead
BetMGM, the joint venture between MGM Resorts and Entain, has increased its foothold in Pennsylvania after launching its second online casino app in the state.
MGM announced the news on its website on Wednesday. Borgata Casino launched in the Keystone State in the morning through a market access partnership with Rush Street Gaming’s Rivers Casino Philadelphia.
app is now Pennsylvania’s 14th online casino offering
Available on both iOS and Android, the app features more than 150 slot and table games, in addition to a progressive jackpot feature. It also offers rewards through MGM Resorts’ M Life program. The app is Pennsylvania’s 14th online casino offering, joining BetMGM Casino which went live in December.
Commenting on the launch, BetMGM CEO Adam Greenblatt described the moment as “an important milestone” for the company. He said he anticipates great success for the app in Pennsylvania, based on its performance in New Jersey.
The Pennsylvania journey so far
BetMGM first made inroads into Pennsylvania’s online gambling market in December last year. As mandated by state regulations, the operator began with a three-day soft launch of BetMGM Casino before officially joining the market on December 4. BetMGM rolled out its first PA online casino app in partnership with Penn National, the owner of Hollywood Casino Morgantown.
In its first month of operations, BetMGM Casino generated the fifth-highest monthly iGaming revenue for December, with a total of $5.7m. As a result of the launch, Penn National also increased its own market share. The Hollywood Casino owner now offers three iGaming products in the Keystone State, including DraftKings and Hollywood Online Casino.
On December 22, BetMGM also launched its online sportsbook in the Keystone State, offering pre-game and in-play sports wagering. Pennsylvania represented the seventh state in which BetMGM had launched its online sports betting app, after going live in West Virginia, Tennessee, New Jersey, Nevada, Indiana, and Colorado. The operator has since added Michigan, Iowa, and Virginia to this list.
Big plans for 2021
BetMGM co-owner MGM Resorts has struggled throughout the COVID-19 pandemic because of the detrimental impact of nationwide restrictions. For the final quarter of 2020, revenue fell 53% year-on-year to a total of $1.5bn. Still, BetMGM gained significant market share in its active states throughout the year, prompting plans for further online expansion in 2021.
enter ten more states by the end of the year
In a statement accompanying MGM Resorts’ Q4 2020 trading results, group CEO Bill Hornbuckle outlined the operator’s ambitions for 2021. The executive said BetMGM plans to enter ten more states by the end of the year, bringing its active markets to a total of 20. He did not specify which states featured in the plans.
Earlier this year, MGM Resorts offered to acquire BetMGM co-owner Entain with the intention of increasing autonomy over the BetMGM brand. Entain, formerly known as GVC Holdings, ultimately rejected MGM’s final $11bn offer, arguing that it “significantly undervalues the Company and its prospects.” MGM has since announced it will not be revising the bid.