MGM Resorts International announced on Wednesday it was launching online casino and poker games in New Jersey under the playMGM brand. That comes from a new agreement with GVC Holdings to operate the online gambling for MGM.
The relationship between MGM and GVC is not a new one. GVC already powered the software behind the online casino and poker site under the Borgata brand since 2013. MGM owned a 50 percent stake in Borgata when iGaming went live in New Jersey. It took over 100 percent control of Atlantic City’s flagship casino in August of last year.
But this marks is the first time that MGM has offered real-money online casino and poker with MGM’s name attached.
“We are delighted to extend our relationship with MGM Resorts and to be launching casino and poker under the playMGM brand in New Jersey,” GVC Chief Operating Officer Shay Segev said in a press release. “MGM Resorts is quite simply one of the biggest and best names in the business, and we look forward to working with them for many years to come.”
“This is a historic moment for MGM Resorts to be launching real money online casino and poker under the MGM brand for the first time,” said Corey Sanders, chief operating officer of MGM Resorts. “GVC has been a first-rate partner for us, and we are excited about the possibilities of extending that partnership as regulated markets open up in the U.S.”
What do we know about the playMGM launch?
The Borgata enjoyed an early lead after iGaming’s launch in 2013 because of its strong brand. But since then it has ceded the top position to Golden Nugget; Borgata now holds about a fifth of the market. Smaller AC casinos have found that they are more than capable of competing with Borgata.
Deploying MGM’s brand — iconic around the US — for online gambling should provide an instant shot in the arm. And while MGM’s entrance is not likely to be entirely additive to the bottom line of NJ online casinos, it does have a chance to further expand the market.
MGM’s interest in online gambling has been visible and growing in recent years:
The move to brand its own online casino in New Jersey is the surest sign yet that MGM is highly interested and invested in the future of online gambling.
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