MGM Advances Plans to Control Las Vegas Sportsbooks

The leading gaming and hospitality operator with a strong presence on the Las Vegas Strip, MGM Resorts Internation, made a major step toward managing BetMGM, the joint venture it owns in collaboration with Entain. The process continues to gain traction, after a recent hearing with the Nevada Gaming Control Board (NGCB).

MGM Resorts Will Leverage Entain Technology

Per the proposed plan, MGM will be in charge of operating a total of nine sportsbooks on the Las Vegas Strip. As announced by the Las Vegas Review-Journal, MGM will leverage technology provided by Entain, to operate the sportsbooks from a hub located at Mandalay Bay.

The company will be in charge of the operations of retail betting venues at New York-New York, Bellagio, Aria, The Cosmopolitan of Las Vegas, Park MGM, MGM Grand, Mandalay Bay, Luxor and Excalibur. During the recent hearing with the NGCB, MGM confirmed that all relevant employees and officials who may require licensing would secure them. In addition, the companies said they will adhere to the established laws regarding anti-money laundering, as well as other regulations.

The Strategic Move Receives Unanimous Approval from the NGCB

On Tuesday this week, Entain confirmed the departure of its CEO, Gavin Isaacs. Although the executive assumed the role back in September, per the latest announcement, he stepped down as CEO effective immediately. Entain confirmed that Stella David, who previously served as interim CEO until Isaacs assumed the position, will once again take the leadership role on an interim basis.

The unexpected leadership change captured the attention of the NGCB. David faced questions from members of the Board, who were curious about Isaacs’ departure which became a fact only five months after his appointment. Kirk Hendrick, NGCB’s chairman, said that it is imperative for the Board to be aware of who to turn to during this period of CEO transition.

A hurdle Entain is facing in Australia was also among the topics discussed during the meeting with the NGCB. Back in December, the company faced accusations by AUSTRAC that its management and Board failed to properly enforce anti-money-laundering policies.

After the hearing took nearly an hour, the NGCB unanimously recommended for approval an amended registration order, granting MGM employees the authority to oversee company sportsbooks on the Las Vegas Strip. The next move is now for the proposal to undergo review by the Nevada Gaming Commission. It is expected that the matter will be put in front of the Commission late this month, on February 27, 2025.