The announcement that BetMGM was launching in UK gambling gave the market much needed reassurance. LeoVegas’s partnership with MGM, and not Entain’s, was what really ignited the conversation. Gustaf Hagman believes that LeoVegas is ready to meet the challenge.
The journey from to BetMGM UK was complex, is an understatement.
Unbeknownst to the uninitiated a US-facing brand, a joint venture between two industry giants, has successfully penetrated the UK market.
Peeling back the layers, however, reveals an entirely different story. BetMGM is a joint-venture between MGM, Entain and the US. Entain is not included in the launch of BetMGM UK.
LeoVegas will instead power BetMGM UK’s new platform. LeoVegas was purchased by MGM Resorts for $604m last year. BetMGM UK’s new platform will compete directly with Entain UK brands such as Ladbrokes Coral and Gala.
Hagman is not fazed by the magnitude of the implications, but he’s more interested in the opportunities that the British market offers. Hagman believes that the deal will be successful in Great Britain, as it combines LeoVegas “proprietary technology and know-how” with MGM Las Vegas’ heritage and IP rights.
He says that “These factors are a formula for success in important markets like the UK” when it comes to igaming.
The course
Hagman says that when MGM bought us last year they said that their intention was to grow international in the digital space, with LeoVegas being the powerhouse. This launch shows that we are indeed on a journey of growth together.
Hagman says that BetMGM UK’s launch is part of a journey MGM and Hagman agreed to embark on when LeoVegas was acquired by MGM in 2022.
LeoVegas does not just follow along. Hagman claims it will offer BetMGM UK “the best user experience in the industry, smooth player onboarding, and the best payment options”.
The platform is fully scalable and allows for a rapid rollout of any future expansion.
Scope out the British market
BetMGM UK, despite its reputation in the industry, could be facing stiff competition from other outfits on the market. None more so than the Entain brands mentioned above.
Hagman believes that the British market is hungry for more igaming options.
He says that the market is well established and consumers know better than anyone else what online gaming and betting are. “They’re always looking for bigger, better and newer experiences.”
BetMGM UK is committed to delivering these new and improved experiences. They promise more frequent jackpots, and greater loyalty rewards.
Hagman sees the UK market as a land full of opportunities. BetMGM is able to transfer its Vegas-like presence to UK customers.
He continued, “We think there’s a great opportunity to shake the market up and we are excited to see what the BetMGM Brand can do for the UK consumers.”
We see a significant opportunity for MGM Resorts International, as we have a new online sports and casino that leverages MGM Resorts International’s Las Vegas heritage to provide an exciting and secure experience.
What’s next?
LeoVegas has not lost sight of their top priority despite the launch of BetMGM UK.
Hagman says, “Our only focus is to make BetMGM an enormous success in the UK.”
Hagman has been reticent about launching in other countries.
He explains, “We are always on the lookout for new ways to share our igaming experiences with new markets and brands.”
At this time, we do not have any details about other markets.
Hagman is confident that BetMGM UK, regardless of where it lands next for BetMGM, will be an important first step on the journey.
The launch represents a major step in our rapidly advancing international growth strategy. “I’m eager to see what lies ahead.”
