MGM and Caesars On Race to Dominate the New US Sports Betting Market

Casino industry giants MGM and Caesars are racing each other, trying to cash in on the U.S. sports betting market, which has been created recently. In attempts to strengthen their roots while expanding their territory at the same time, the two are doing everything they can to secure a higher power.

 

As more and more people have raised interest in legal gambling on professional and college sports in the United States, an increasing number of states have started to approve all the required regulations. Trying to take advantage of this growing market in the country, MGM and Caesars are fighting hard to cash in. It is also important to note that this comes just two months or so after the Supreme Court allowed all 50 states in the U.S. to offer sports betting if they desire.

 

Both titans making strong moves to get ahead

 

Since this industry is quickly growing and is only expected to expand beyond the United States, gambling operators and various technology companies have signed deals to get ahead of the game.

 

For instance, MGM announced on Monday that it had signed a deal with UK-based GVC Holdings. This deal will result in the creation of online gambling platforms including website and a mobile app, as well as sports betting in the U.S. Another agreement between MGM and Boyd Gaming Corp will allow both the companies to operate in 15 states where they have their casino-resorts, offering online wagering and sports betting.

 

Caesars Entertainment, on the other hand, has signed an agreement with Scientific Games so as to develop their sports betting technology. They have made sports betting available in one of its casinos in New Jersey. They plan to make the same available in another casino in Atlantic City this week. They also announced that they plan to make mobile sports betting available soon. The race is on to find out which gambling giant will be the first to roll out online sports betting.

 

Experts speak on the matter

 

Carlo Santarelli, an analyst at Deutsche Bank, says that he believes the MGM-GVC deal will be beneficial for both parties. MGM has the obvious gain of state-of-the-art technology for developing online sports betting in a manner that is cost-efficient without compromising on quality. At the same time, both parties will likely experience a boost in their “speed to market,” which is a crucial element in sports betting in America.