MGM Drops Mobile Sportsbook In New Jersey With Borgata’s PlayMGM App

On Wednesday after two-plus weeks of waiting, the MGM-owned Borgata’s playMGM app will give company to the DraftKings Sportsbook, which had fully launched on August 6 and remained the only online sports betting app available in New Jersey.

But wait no more: the playMGM app is available now to New Jersey-based Android users. “The playMGM NJ Sports app is being initially soft-launched on the Android platform, with an iOS version due to launch imminently,” said MGM Resorts International in a statement coinciding with the app’s release. “Through our partnership with GVC Holdings, our mobile betting operations in New Jersey will be delivered on a best-in-class mobile platform that positions us as a leader in technology, accessibility and sports betting expertise” added Scott Butera, MGM Resorts International President of Interactive Gaming.

After zipping around the platform a bit from here in New Jersey, what follows is some initial impressions, notes on what you can bet and some odds and ends.

MGM’s New Jersey Online Sportsbook Available Through Borgata’s and playMGM App Ahead of Football Season

mgm online betting app nj legal sportsbooks


So what can patrons wager on? A lot.

There’s straight bets, futures, props, and parlays all available. The professional (NFL) and college football menus are queued up with a wide variety of different player and team props, futures and totals, such as:

  • Most regular season losses by any NFL team: o/u 13 (-110)
  • Deshaun Watson regular season touchdown passes o/u 26.5 (-110)
  • Kareem Hunt regular season rushing yards o/u 1099.5 (-110)
  • Regular season points by Philadelphia Eagles o/u 404.5 (-110)
  • Will the Texans make the playoffs?  Yes -130, No +110
  • Which two teams will make the Super Bowl? For example, Steelers/Saints is 50-1
  • Will Grier (West Virginia) regular season passing touchdowns: o/u 35.5 (-110)
  • Regular season wins by Nebraska 6.5 (o/EV, u -120)

What can’t folks wager on for now?  So far I did not find live or in-play wagering options on playMGM. It’s possible I’m missing them or they simply may not have been introduced yet. 

To read the rest of this article please visit SportsHandle using the link below:

MGM, GVC Joint Venture in Sports Betting, Online Gaming Will Create ‘A Beast’

The post MGM, GVC Joint Venture in Sports Betting, Online Gaming Will Create ‘A Beast’ appeared first on SportsHandle.

The “British Invasion” in the emerging enterprise of legal sports betting in the U.S. is continuing with the official announcement today (Monday) that British betting group GVC Holdings Plc, owner of the Coral, Ladbrokes and Sportingbet brands, will form a sports betting and online gaming joint venture with MGM Resorts International.

GVC would join other British controlled betting companies such as William Hill, Paddy Power Betfair, bet365 and others that have or are about to assume a major role in the U.S. as a risk manager and/or sports wagering software provider to U.S. gambling companies that have opened or expect to soon open sportsbooks at their U.S. operations.

Jim Murren, Chairman and Chief Executive Officer of MGM Resorts, said in a company media release, “We are proud to join forces with GVC, the largest and most dynamic global online betting operator, with existing reputable and trusted operations in the U.S.” Murren added, “With MGM Resorts’ expertise and leading position in key markets across the U.S., this historic partnership will be positioned to become the instant leader in technology, market access, sports relationships and brands.”

MGM and British Betting Group GVC Teaming Up In Sports Betting and Online Gaming Venture, As More Legal Sports Betting States Open Up Big Opportunity in U.S.

Initial media reports indicate GVC and MGM will contribute $100 million apiece as part of a 50:50 venture that would encompass a 25-year commitment, with an option for either company to buy the other out after 10 years.

GVC already operates MGM’s online casino initiative in New Jersey. Murren’s mention of “sports relationships and brands” is in apparent reference the company’s title sponsorship of the NBA Summer League and its ownership of the WNBA’s Las Vegas Aces franchise.

As earlier reported by Sports Handle, MGM is expected to be one of the U.S. market’s largest sportsbook operators as various states legalize sports betting as a result of the U.S. Supreme Court May ruling that said the law limiting single-game betting to Nevada was unconstitutional. MGM has already begun taking sports bets at The Borgata in Atlantic City and will open at two casino/resorts along Mississippi’s Gulf Coast as soon as state regulators finish due diligence in that state, possibly as early as Wednesday.

MGM now operates National Harbor, a major casino/resort near Washington. D.C., will open MGM Springfield in Massachusetts in late August, and is completing its acquisition of Empire City Casino and Yonkers Raceway, a racino bordering New York City.

One industry insider told Sports Handle, “It is a beast of a deal if it comes to fruition.” 

mgm gvc sports betting online betting venture new jersey

Although MGM is a major Nevada sports betting operator with casinos and sportsbooks all along the Las Vegas Strip, the emerging multi-billion dollar sports betting business along the East Coast alone and the risk involved, may be the motivation behind the proposed GVC/MGM joint venture, industry observers say. They indicate these East Coast sportsbooks alone could potentially take in many millions of dollars in wagers each day.

Such high volume betting action would subject the bet takers to major liability. Forming a new company would spread the risk and make the emerging business more palatable to Wall Street and investors, Sport Handle was told.

Additionally, if MGM were to operate sportsbooks through a different company, with their smaller margins and greater financial exposure, its core casino/resort business would be insulated from potential losses.

MGM recently converted to an IGT betting platform at its numerous Nevada properties on the Las Vegas Strip and is using it at its newly opened sport betting operation at The Borgata in Atlantic City. It’s unclear if the joint venture would use a GVC betting platform rather than IGT’s.  

And More News Today.

MGM and Boyd Gaming announced a new partnership on Monday that will expand MGM’s portfolio into states likely to offer sports betting and/or online gaming in the coming months or years. The partnership has an eye toward jurisdictions where either Boyd Gaming or MGM Resorts operate physical casino resorts and should be able to obtain licenses to operate online.

Boyd will eventually bring to the table eight states where MGM does not operate – Illinois, Indiana, Iowa, Kansas, Louisiana, Pennsylvania, Ohio, and Missouri.

This is the second partnership between MGM and Boyd. The companies were 50-50 partners in Atlantic City’s Borgata Resort, but MGM bought out Boyd’s stake two years ago.

“We are excited to team yet again with Boyd Gaming on this unprecedented partnership,” Murren said. “We look forward to expanding our entertainment options for guests beyond their visits to our land-based resorts.”

CDC Gaming Reports contributed to this story.

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Three New Jersey Sportsbooks Collects $3.4M in First Half-Month

The post Three New Jersey Sportsbooks Collects $3.4M in First Half-Month appeared first on SportsHandle.
New Jersey sports betting went live on June 14 at Monmouth Park in Oceanport and at the MGM-owned Borgata Resort Casino in Atlantic City, and the first month of operations has shown that the state’s costly fight for legal sports betting will be well worth with it.
The New Jersey Division of Gaming Enforcement on Thursday released the first batch of sports betting revenue figures, which are based on a cash method of accounting, not on an accrual method as in Nevada, showing the three separate locations operating in June took in a collective $3,458,688, producing $293,863 in tax revenue for the state of New Jersey. That’s based on a total handle of $16.4 million across the same properties.
Those figures come with an 8.5 percent tax rate. Mobile sports wagering tax rate is 13 percent, which is likely to begin at a few properties set to roll out their apps/online platforms in the coming weeks. Anyone in state can set up an account remotely and deposit without having to register in person at a licensee.
New Jersey Sports Betting Numbers and Handle From First Weeks of Live Operations Show Big Win.
nj sports betting numbers handle for june from monmouth park sportsbook
Keep in mind the $3.4 million is based on a cash method of accounting, which counts as revenue wagers on futures events such as the World Cup and Super Bowl winner.
According to the DGE, “$1.2 million in gross revenue was reported from Completed Events, which approximates accrual basis revenue that can be compared to the win reported of Nevada casinos.”
The total handle across the three locations was $16.4 million. 
Here’s more of the breakdown:

Also keep in mind that Ocean Resort, a property formerly known as Revel, only opened on June 28, meaning it produced its handle and hold in three days.
People had a nice time betting on baseball! It represents $10.1 million of the $16.4 million in handle:

Further consider that mobile wagering has not yet begun, which will be coming soon through William Hill and the Borgata. Sources say that the MGM-owned Borgata’s mobile app will be introduced next week.
These numbers are pretty, pretty good, considering only baseball and soccer events (with some other events such as UFC 226) were occurring during this half-month stretch.
Welcome to the game, New Jersey, and Garden State sports bettors.
This is story is developing and will be updated.
[Also See: What to Expect at the Meadowlands’ FanDuel Sportsbook Launch]
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