Michigan on Friday became the latest state to link the legal online casino and sports gambling, and one ambitious company was just there to take advantage. BetMGM, a joint venture between US casino resort companies MGM Resorts International (NYSE: MGM) and the UK Omhul, launched its BetMGM app that day covering the two categories in the state.
BetMGM’s launch at BetMGM Sportsbook and Lounge, an athletic betting facility in MGM’s Grand Detroit resort in the city. With the expectation that Michigan would soon allow such betting, the company opened the Lounge last October.
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“The response to the opening of MGM Grand Detroit’s BetMGM Sportsbook and Lounge has been incredible,” said Adam Greenblatt, CEO of BetMGM. “We are delighted to complement our retail offering with the launch of the BetMGM mobile app in Michigan. ‘
With the opening of the state’s gambling market, residents will have a myriad bet through BetMGM’s app. Betting can be applied to many games, and it can take forms such as prediction, in-play, future and other types of betting. When it comes to casino games, BetMGM gives users the chance to lose all their money on offers such as slots, blackjack and video poker.
While the launch in Michigan is definitely good news for BetMGM (and added MGM Resorts), the relationship between the casino business and Entain may just be rocky right now. Earlier this week, MGM Resorts announced that its attempt to terminate Entain would be terminated. He had previously tried to buy his British partner in a deal worth more than $ 11 billion, but the offer was rejected.
On Friday, the MGM’s share fell 0.4%, a slightly steeper drop from the 0.3% that the S&P 500 index.