BetMGM Sportsbook Will Launch in New York on Monday

Despite four competitors getting a nine-day head start in the hottest sports betting market in the US, BetMGM has huge advantages over the competition.
BetMGM Sportsbook Will Launch in New York on Monday
By
January 14, 2022

BetMGM announced that it will launch its mobile and online sportsbook in New York — which has suddenly become the hottest sports betting market in the US — on Monday, January 17.

The operator — one of nine to receive licenses from the New York State Gaming Commission (NYSGC) in November — will be the fifth sportsbook to launch in the Empire State. Four competitors — BetRivers, Caesars Sportsbook, DraftKings Sportsbook, and FanDuel Sportsbook — began accepting sports wagers in NY on January 8, 2022, touching off a massive handle of $17.2 million over the opening weekend.

THE KING IS COMING TO NY,” the operator tweeted Friday, accompanied by a picture of the Empire State Building at night. New York will be the 19th US state with BetMGM Sportsbook deployed and will be its largest market to date.

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Despite Late Start, BetMGM Has Advantages

Despite four of its competitors having a nine-day head start, BetMGM has some major advantages over the competition — which is expected to be intense.

On the day after it was awarded its license by the NYSGC, BetMGM announced that it had clinched a multi-year marketing partnership with Madison Square Garden Sports Corporation (MSGS) and Madison Square Garden Entertainment Corporation (MSGE). The operator was named an official sports betting partner for the arena, NBA’s New York Knicks, and NHL’s New York Rangers.

The partnership is extremely lucrative, considering the arena and its teams are among the top sports icons in the Empire State, and the NYC media market extends deep into neighboring New Jersey and Connecticut. BetMGM will also benefit from live coverage of New Jersey Devils and New York Islanders hockey games by MSG Networks, an MSGE subsidiary.

BetMGM could also potentially open a retail sportsbook at the Empire City Casino in Yonkers, NY, which is owned by MGM Resorts International. The casino is a 50-50 joint venture between MGM and Entain.

“With today’s monumental news, we’ll now be able to fully activate our relationships with MGM Resorts’ Empire City Casino and Madison Square Garden,” said BetMGM CEO Adam Greenblatt. “We look forward to offering customers in New York unique experiences that they can’t access on any other platform.

“A huge thank you to the NYSGC as well as to our entire BetMGM team who have worked tirelessly to bring this to fruition.”

Still, BetMGM missed accepting wagers for the last weekend of the NFL’s regular season, the College Football Playoff National Championship, and the opening round of the NFL playoffs, as well as college basketball, NBA, and NHL action.

BetMGM said its app will integrate with MGM’s M life Rewards program, although MGM announced last week that it plans to replace M life Rewards with a new loyalty program, MGM Rewards, on February 1. Under the new program, customers will be able to earn credits across all MGM properties in the US.

The operator touched on the new perk on Friday, stating that its customers will have “the ability to redeem their gameplay for world-class experiences at MGM Resorts properties,” and then listing Empire City, the Borgata in Atlantic City, MGM National Harbor in Maryland, the Bellagio in Las Vegas, and MGM Grand, also in Las Vegas. BetMGM said it would also “reward its customers with VIP experiences involving the Knicks and Rangers.”

Update on 2021, Outlook for 2022

BetMGM also announced Friday that it will provide an update on its performance in 2021, as well as the operator’s outlook for 2022, before markets open on Wednesday, January 19 at approximately 8:30 am ET.

The operator will also host a conference call at 10 am ET on January 19 to discuss earnings from Q4 2021 and the full-year 2021. A brief question-and-answer session will follow.

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