MGM Boss Optimistic about BetMGM, Eyes Tech Firm Acquisition

In addition to expressing his confidence in opportunities in the UAE and Thailand, MGM Resorts president Bill Hornbuckle also teased that his company is considering an acquisition of a sports betting tech company.

Hornbuckle commented on MGM’s plans and ambitions at the recent JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. While the president expressed confidence in the BetMGM brand that his company co-owns with Entain, he remained wary of some of his team’s shortcomings.

BetMGM, which recently launched in the United Kingdom, has been slowly losing Steam in the United States. According to Hornbuckle, BetMGM “isn’t where it should be,” despite recent enhancements to the overall experience and the standardization of the app across many states. BetMGM believes that its competitors have stronger parlay products, which is why the company recently invested in improving its own parlay product.

Despite the recent enhancement, there are still things MGM is lacking. One of them is sports betting technology.

Hornbuckle explained that the BetMGM brand is currently relying on Kambi’s betting tech. However, the company is interested in securing a proprietary betting technology supplier, according to the president. According to him, this may happen in “the next couple of months.”

In addition, MGM might also consider acquiring a live dealer supplier, as it currently uses Evolution.

The MGM Brand Is Poised for Success

In any case, MGM Resorts is convinced that the strength of its partnership with BetMGM is poised for success, especially considering the hard work of Entain’s interim CEO Stella David. Hornbuckle praised David for her transparent approach, saying that one needs to recognize a problem in order to solve a problem.

Hornbuckle added that his team will closely follow the latest developments at its partner company.

Hornbuckle also praised the launch of BetMGM in the UK, saying that it is a testament to MGM and Entain’s opportunity to successfully tackle a mature regulated market and expand it. The successful launch of the company in the UK made him optimistic about the BetMGM brand’s international future.

Speaking of international expansion, MGM Resorts recently gave up on its casino plans in Dubai, at least for now. While Hornbuckle was quite optimistic about the legalization of gambling in the UAE emirate, it never happened, forcing his team to rethink its plans.

Despite that, MGM Resorts will proceed with its hotel plans in Dubai and will be ready to pivot to casino gaming, should the emirate change its mind.