BetMGM to Assume Control of MGM’s Sin City Sportsbooks

The Nevada Gaming Commission has allowed up-and-coming betting brand BetMGM to run MGM Resorts’ sports wagering operations in Las Vegas. This marks a significant development for the brand, which continues its growth journey.

BetMGM to Take Over MGM Resorts’ Betting Operations

CDC Gaming, which broke the news on this story, said that BetMGM, which was initially listed as a manufacturer and sports information distributor, will now be able to expand its sports betting presence in Sin City. The license was originally reported to allow BetMGM to have significant involvement in the sports betting operations at MGM venues in the city. Because of certain concerns regarding the brand’s role, it filed for a key employee license, which was granted in December.

BetMGM is a fast-growing betting brand co-owned by MGM Resorts International and Entain. By approving its latest application, the Nevada Gaming Commission has effectively allowed the business to run sports betting across the nine MGM-owned casinos in Las Vegas.

According to the report, BetMGM will take over the sports betting operations at MGM Resorts’ hub at Mandalay Bay and will run the other sportsbooks from there. The existing MGM sports betting team, which consists of 70 full-time and 30 part-time workers will be transferred to BetMGM.

CDC Gaming was told that this transition would take a while and is likely to be completed by the end of the summer.

BetMGM’s Nevada Team to Double in Size

With the transition of MGM’s sports betting employees to BetMGM, the brand’s team will double in size. According to BetMGM private counsel Scott Scherer, the brand currently employs 115 people in Nevada.

There’s this perception that BetMGM is either across the country or across the ocean, but they have a lot of key people here. One of them will be on your agenda next month for licensing as a key executive.

Scott Scherer

In the meantime, Scherer said that he expects compensation for the MGM ticket writers to remain the same. Overall, the only notable change for these employees in particular should be that their paycheck would come from a different entity.

Scherer admitted that the transaction will be very complex and that it will take a lot of coordination on how comps will work. He elaborated that the biggest challenge for BetMGM would be to integrate its systems in a way that offers seamless experiences to the players.

BetMGM Boosts Business, Pursues Positive EBITDA

The transition aligns with MGM Resorts’ efforts to position BetMGM as a global betting powerhouse. The brand’s mobile app in Nevada already enjoys significant popularity among local bettors.

Because of that, BetMGM opted to provide players in the Silver State with seamless, nationwide connectivity through a single, digital wallet. This improvement had been several years in the making and, according to company reps, set a new industry standard.

In other news, BetMGM recently posted its FY 2024 report, delivering stable growth and optimistic EBITDA forecasts. While the brand is still EBITDA negative, executives are bullish on changing this in 2025.