MGM to Launch its Own iGambling Brand in New Jersey

Nevada and Delaware’s online gambling industries continue to languish in the doldrums, despite all efforts to give their respective markets a boost in 2015 by forming an interstate poker sharing compact. In the meantime, New Jersey’s online gambling market has gone from strength to strength, and in March saw its year-on-year revenues soar by a massive 40% to record heights, with online casinos generating $19.5 million (+49%), and poker a further $2.25 million (-8.5%).
The positive trend has naturally attracted the attention of some of the gambling industry’s biggest operators, and against this backdrop land-based casino company MGM Resorts International has decided that the time is right to test the waters by launching its own MGM branded internet gambling site in the Garden State.
MGM Resorts International already owns the Borgata casino in Atlantic City, where it offers an online casino and poker product in partnership with bwin.party, which incidentally was bought by GVC in 2016 for around $1.6 billion. For MGM’s latest venture, its partner of choice will once again be GVC Holdings, but with the new site launched under the playMGM brand. Commenting on the development, Corey Sanders, CEO of MGM Resorts, stated:
“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. 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.”
Interestingly, MGM is licensed to offer online poker in Nevada, but despite the state having just one operator in the guise of Caesars/WSOP.com, the firm has decided instead to consolidate its position in the already busy internet gambling market of New Jersey. On a positive note, allowing its brand name to be attached to its internet offering is a sure sign that MGM is anticipating a continued bright future for New Jersey’s online gambling industry.