MGM Embraces Global Expansion with BetMGM and Live Tech

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00:00 (upbeat music)

00:03 - It also adds up that other sports betting companies

00:05 would prefer not to outsource their technology,

00:09 which it appears is what MGM is trying to accomplish here.

00:12 And Matthew, if they're able to get this done,

00:14 then our stories about some of these

00:17 sports betting operators outsourcing technology

00:19 may come to an end as well.

00:20 - Yeah, it could.

00:22 This is really interesting from MGM.

00:25 MGM, the BetMGM brand is co-owned by both MGM

00:29 and a gaming company publicly traded in London

00:32 called Entain.

00:34 And so Entain really brings the backbone of the platform

00:37 to BetMGM.

00:38 And MGM is now bringing the BetMGM brand into Europe

00:43 and international markets.

00:46 Now that's through this company that they acquired

00:49 called Leo Vegas.

00:50 Leo Vegas was a pretty successful iGaming company

00:55 operating in Europe.

00:56 MGM bought them.

00:58 And Leo Vegas is still on that CanBe technology

01:01 that we just talked about in Europe, in the UK.

01:05 And so MGM is saying, look, we wanna own our own now.

01:09 Now, what does that mean?

01:10 I don't know if that means that they're gonna switch away

01:12 from what Entain does in the US.

01:14 That seems a little short-sighted to me

01:16 because BetMGM is really figuring things out by now.

01:21 But yeah, if you can cut out some of those third-party costs

01:24 in the international market,

01:26 who knows where BetMGM is going to go.

01:29 They're in London.

01:30 They had kind of a tough week in London

01:32 with the Sheltonham races.

01:34 And MGM CEO, Bill Hornbuckle,

01:37 tried to say how great they were doing at the races

01:40 and couldn't even pronounce Sheltonham.

01:42 So that tells you a little bit

01:43 about their international going so far.

01:46 But what I thought was interesting,

01:48 as much as they wanna own

01:50 their own sports betting technology,

01:52 they're talking about owning

01:53 their own live dealer technology as well.

01:56 Craig, if you're not familiar with the live dealer games,

01:58 this is when you go online to an online casino

02:01 and you open it up and you have a real human

02:04 sitting in front of you, ready to deal you the cards.

02:07 They wanna stop outsourcing that.

02:09 They wanna own that.

02:10 They wanna put their brand name on it.

02:12 (upbeat music)

02:14 (bells chiming)

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