Nevada gaming regulators Thursday approved the joint venture between MGM Resorts International and UK-based GVC Holdings to launch its digital sports betting operation in the state.
The partnership, which was announced in 2018, operates Roar Digital, a mobile wagering platform operating in New Jersey through the Borgata in Atlantic City. The app, BetMGM, launched in September.
The Nevada Gaming Commission’s approval allows BetMGM to replace the PlayMGM app currently in operation in Nevada. Roar will be the licensed operator and service provider.
“Very simply, the 7 million guests that MGM hosts is a incredible opportunity for Roar Digital,” said Roar Digital CEO Adam Greenblatt.
MGM and GVC each invested $100 million to launch the company in 2018. Since the partnership began, MGM has been active in creating partnerships with sports leagues, teams and other businesses.
MGM Resorts Chairman and CEO Jim Murren has said sports betting is a key growth market for the company.
In October, MGM Resorts and media giant Yahoo announced a partnership agreement geared toward mobile sports betting that will utilize the Roar Digital mobile platform and reach “the widest possible audience” of U.S. sports fans.
MGM established partnerships with three of the four major professional sports leagues. The company has struck marketing deals with several teams, including placing the MGM Resorts logo on the Green Monster at Boston’s Fenway Park, home of the Red Sox.
Gaming Commission Chairman Tony Alamo Jr., noted Roar Digital didn’t have a releationship with the National Football League.
Greeblatt noted the NFL has been slower than most league’s to accept relationships with sports betting.
However, as the Commission was taking up the matter, MGM Resorts announced a deal with the Las Vegas Raiders in which the gaming company became an official gaming partner of the NFL team. MGM Resorts also has been named a founding partner of Allegiant Stadium and an official home of the Raiders pre- and post-game party.
In September, MGM and Roar Digital announced a sports betting partnership with the national Buffalo Wild Wings sports bar franchise to provide odds and point spreads on screens at select restaurants.
MGM and GVC have a sports betting deal with Boyd Gaming Corp. for access to the companies’ regional casinos.
The agreement between MGM Resorts and Yahoo follows other partnerships that have developed between gaming companies and media corporations since the landmark May 2018 Supreme Court ruling that opened the U.S. to legal and regulated sports betting.
Also Thursday, the Commission approved corporate raider Carl Icahn’s 17.55% stake in Caesars Entertainment and a finding of suitability for Icahn Enterprises CEO Keith Cozza and Icahn Capital fund manager Courtney Mather.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
