BetMGM Says New Jersey And Michigan Online Poker Shared Player Pool Is 'Imminent'Company Details Plans In Recent Business Presentation |
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BetMGM may soon venture into shared liquidity between the company’s platforms in New Jersey and Michigan, according to an MGM Resorts business update last week.
The move could have the company operating the country’s third multi-state online poker platform, along with PokerStars (New Jersey and Michigan) and WSOP.com (Nevada, New Jersey, and Delaware).
“Finalizing approach for global jackpots, enhanced by BetMGM’s scale, and poker shared liquidity launch imminent,” a slide from the presentation noted.
Growing The Brand
What “imminent” actually means in real terms is unknown. The company also operates in Pennsylvania, but that state hasn’t joined the country’s Multi-State Internet Gaming Agreement (MSIGA).
CEO Adam Greenblatt outlined the company’s continual focus on digital gaming with online poker as a part of that. BetMGM Rewards, sports betting, online casino gaming, and poker offer a continuous omnichannel wheel of marketing for the digital side and live casinos, he noted.
“We’ve established ourselves as one of the leaders in this fast-growing, highly competitive industry,” the CEO said.
The company has spotlighted online poker more over the last couple years by partnering with MGM Resorts properties for live tournaments, such as Aria and Borgata. Combining the New Jersey and Michigan markets would see BetMGM reach larger player and prize pools.
West Virginia also recently joined the MSIGA and BetMGM is already available in that state via sports betting and online gaming. Adding that state’s first online poker option would be possible.
The company also has a license in Nevada, but has yet to launch poker in that state. Connecticut legalized online gaming and poker in 2022, but has yet to see any operators launch. Online gaming has been left to the state’s tribes and leaders recently expressed interest in joining the MSIGA. These states present possible opportunities for MGM and other operators.
Plans To Acquire All Of BetMGM?
In a third quarter earnings report, MGM also outlined an interesting long-term goal for BetMGM. A “strategic direction” section of the presentation noted that a goal was to own the entire platform at some point.
BetMGM is currently a 50/50 partnership between MGM Resorts and Entain. The latter is a global online casino giant and also operates the international PartyPoker platform. No further plans of an acquisition have been announced.
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