MGM RESORTS INTERNATIONAL AND TECHNOLOGY LEADER PLAYTECH PARTNER TO LAUNCH PROPRIETARY LIVE CASINO CONTENT DIRECTLY FROM LAS VEGAS
MGM Resorts International has announced a strategic partnership with Playtech to launch a new live casino content offering directly from Las Vegas. The service, branded as 'MGM Live,' will feature live-streamed games including single and double-zero roulette and baccarat from MGM Grand and Bellagio's gaming floors. This initiative is aimed at regulated markets worldwide, excluding the United States.
Future plans include expanding the game portfolio with exclusive Playtech games, TV game shows, and celebrity-hosted trivia. Both companies emphasize their commitment to responsible gambling. This collaboration will enhance MGM's global reach and offer innovative experiences, driven by the trusted brands of MGM and the technological prowess of Playtech.
- Strategic partnership with Playtech enhances MGM's global reach.
- Launch of 'MGM Live' adds new revenue streams.
- Live casino content includes popular games like roulette and baccarat.
- Future expansion plans include exclusive games and celebrity shows.
- Commitment to responsible gambling aligns with industry standards.
- Service not available in the U.S., excluding a major market.
- Operational challenges and costs in streaming live from casino floors.
Insights
MGM Resorts International partnering with Playtech to launch live casino content is a strategic move that can significantly impact their financial performance. For investors, this alliance potentially offers a lucrative revenue stream through licensing in regulated markets worldwide, excluding the US. This move can diversify MGM's income sources and reduce geographical risk.
The partnership with Playtech, a technology leader in the gambling industry, suggests MGM is investing in innovative gaming solutions. This can enhance user experience and attract a broader customer base, potentially increasing their market share. Additionally, leveraging iconic brands like MGM Grand and Bellagio could amplify brand prestige and customer loyalty.
However, investors should also consider the operational risks and compliance costs associated with expanding into new regulated markets. The success of this venture heavily relies on the effective execution of the live casino offering and adherence to regulatory requirements.
Overall, this collaboration could position MGM Resorts for sustained growth, particularly in the online gaming sector, which has shown considerable resilience and growth potential in recent years.
The live casino market is expanding rapidly, driven by increasing demand for interactive and immersive gaming experiences. This partnership between MGM Resorts and Playtech taps into this growing trend, offering a unique selling proposition with games streamed directly from the casino floors at MGM Grand and Bellagio.
For retail investors, understanding the competitive landscape is crucial. MGM Resorts' entry into the live casino market through this alliance gives it a competitive edge over traditional online casinos, which do not offer live, on-location gaming experiences. The involvement of celebrity hosts and the planned expansion into branded TV game shows can further differentiate their offering, potentially attracting a diverse audience.
However, the partnership's success will depend on market acceptance and the ability to scale the live casino offerings efficiently. Investors should monitor user engagement metrics and market feedback post-launch to gauge the partnership's actual impact on MGM Resorts' market position and revenue.
In conclusion, this strategic move aligns well with current market trends and positions MGM Resorts for robust growth in the online gaming sector.
Streamed directly from the gaming floors of two of MGM Resorts' most iconic Las Vegas Strip properties, the live casino content, branded as "MGM Live," will be available for licensing in regulated markets worldwide, outside of
The live casino offering will include single and double-zero roulette and baccarat games. These games will be broadcast live from the casino floors at both MGM Grand and Bellagio Resort & Casino in
As the partnership evolves, the plan is to broaden the portfolio with exclusive access to a variety of Playtech games, branded TV game shows, celebrity-hosted trivia shows, and the one-of-a-kind entertainment experiences for which
"The launch of this new and exciting live casino offering, in partnership with Playtech and directly from Bellagio and MGM Grand in
Mor Weizer, Chief Executive Officer at Playtech said; "We are thrilled to partner with MGM Resorts, a world-renowned gaming and entertainment brand. This alliance combines the strength of MGM Resorts' global prestige with Playtech's extensive international market knowledge and innovative games. As a leading technology provider in regulated markets, we are delighted that this partnership is pioneering a new live entertainment category and product offering for players in these regulated territories. Our alliance is built on a shared vision to create an innovative and unique customer experience alongside our commitment to safer gambling. Both Playtech and MGM Resorts are dedicated to maintaining the highest standards of player protection and ensuring our offerings are enjoyed responsibly."
As the technology partner of MGM Resorts, Playtech will be providing players with on-demand, online access to a combination of next-level, immersive entertainment experiences directly from two of the industry's landmark, exclusive brands: Bellagio and MGM Grand. Both brands look forward to working with operators to support and promote a safe gambling experience.
*Press images are available here.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of
About Playtech Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling industry with over 7,700 employees across 19 countries. Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in
Forward-Looking Statements
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the MGM's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. MGM has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, MGM's expectations regarding its strategic partnership with Playtech and the live casino content, games, shows and experiences to be produced in connection with such partnership. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and MGM may not be able to realize them. MGM does not guarantee that the strategic partnership or other events described herein will happen as described (or that they will happen at all). These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks related to the effects of economic conditions and market conditions in the markets in which MGM operates; the significant competition within the gaming and entertainment industry; MGM's ability to execute on its business plan; changes in applicable laws or regulations; other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
Media Contacts
Brian Ahern
MGM Resorts
media@mgmresorts.com
Manpreet Dhillon
Playtech Plc
manpreet.dhillon@playtech.com
Headland Consultancy (PR adviser to Playtech)
Tom James +44 (0)73 1136 9960
playtech@headlandconsultancy.com
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SOURCE MGM Resorts International
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