MGM Brand Joins New Jersey's Regulated Online Poker MarketCasino Operator Calls It An 'Exciting Undertaking' |
|
New Jersey’s online poker market just got a little more crowded.
MGM Resorts International, one of the largest casino developers in the world based on revenue, launched its branded online casino in the state earlier this month. It’s the first time that the company has ventured into the online gaming space under the prominent MGM brand. The casino operator owns Borgata, Atlantic City’s richest casino.
MGM’s online gaming offerings are now available through the websites playmgmcasino.com and playmgmpoker.com as well via as apps and downloadable software, which brings the number of portals under the Borgata casino license to eight. There are 23 sites altogether under five casino licenses offering online betting.
“We are thrilled to be entering the online gaming landscape in New Jersey,” said Corey Sanders, Chief Operating Officer of MGM. “The ability to effectively bring Las Vegas to New Jersey via an online experience is an exciting undertaking, especially as we continue to develop our presence on the East Coast with the recent acquisition of Borgata, the opening of MGM National Harbor and the pending 2018 opening of MGM Springfield in Massachusetts.”
MGM partnered with Isle of Man-based GVC Holdings for the online gaming technology.
New Jersey kicked off online gambling in 2013, and four years later the market is growing at a rapid pace. Through the first six months of 2017, New Jersey online gaming sites won $121.4 million from players, an increase of 28.1 percent compared to the $94.8 million taken in during the same period last year.
However, peer-to-peer poker (non-house banked) revenue of $12.5 million was an 8.4 percent decline compared to the poker rake from the first half of 2016.
Borgata hasn’t been part of the online gaming growth this year, according to state figures. The platforms under Borgata took in $23.4 million through June, down 5.2 percent year-over-year. That’s in contrast to the Golden Nugget, which has seen its online gaming revenue grow 76.1 percent year-over-year to $32.9 million. Still, Borgata had total gaming win of $388.8 million through June, more than double the nearest competitor (Tropicana).
Though it took MGM awhile to launch real-money online gambling, the firm has pushed for online gaming in other states, including New York and Michigan.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
