MGM Resorts will make its first-ever splash into real money internet gaming this year when it becomes the newest entrant into New Jersey’s growing online gaming space.
The Las Vegas-based casino operator announced Wednesday morning that it has sealed a partnership with GVC Holdings PLC, a global sports betting and online gaming provider, to launch an online casino and poker platform in the state under the playMGM brand.
The platform will be MGM’s first foray into the online casino space and is scheduled to launch later this year. It will offer more than 300 casino games playable on mobile and desktop, as well as a variety of poker tournaments.
“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,” said Corey Sanders, Chief Operating Officer of MGM Resorts.
The platform will operate under the license of the Borgata Hotel Casino & Spa, which is wholly owned by MGM and two other online casinos: nj.parypoker.com and BorgataCasino.com.
With the move, MGM will seek to return the Borgata to its former leading position in the New Jersey online gaming market.
The Borgata had been the dominant player in the space since the practice was first legalized in 2013. Its total gaming win bested the competition for 33 consecutive months until September 2016 when it was surpassed by Golden Nugget. It has since slipped to second or third place in all but one of the ensuing months.
Online gaming revenue in New Jersey has ticked up steadily over the past three and a half years. It generated $21.7 million in revenue in March, a 40 percent year-over-year jump from $15.5 million.
MGM also aims to use the platform as a potential springboard into other U.S. jurisdictions.
“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.,” Sanders added.
GVC is a based in the Isle of Man and holds licenses in 18 countries, where it offers business-to-business and business-to-consumer online gaming technology solutions. It acquired bwin.party in February 2016, which is a partner in BorgataCasino.com.
The company already provides software and technical support services to the Borgata and has been a partner in the casino’s online offerings since 2013.
“We are delighted to extend our relationship with MGM Resorts and to be launching casino and poker under the playMGM brand in New Jersey,” said GVC’s Chief Operating Officer Shay Segev. “MGM Resorts is quite simply one of the biggest and best names in the business, and we look forward to working with them for many years to come.”
