MGM RESORTS LAUNCHES BETMGM IN THE NETHERLANDS

Rhea-AI Summary

MGM Resorts International announced the launch of BetMGM in the Netherlands, expanding its iGaming and online sports betting brand globally. The Dutch market will enjoy new product features like large-scale jackpots, loyalty rewards, and exclusive slots, powered by LeoVegas Group's technology. This move follows a successful UK launch, marking MGM's strategic international expansion efforts.

Positive

• Expansion into the Dutch market provides MGM Resorts with a new revenue stream and growth opportunity.

• BetMGM's innovative product features, such as large-scale jackpots and exclusive slots, can attract a wide customer base and increase market share.

• Utilizing LeoVegas Group's technology and platform enhances BetMGM's offering and competitiveness in the online gaming market.

• The successful UK launch demonstrates BetMGM's capability to enter and succeed in international markets, boosting investor confidence in MGM Resorts' global expansion strategy.

Negative

• Potential regulatory challenges and competition in the Dutch market may pose risks to BetMGM's growth and profitability.

• Adapting to the unique preferences and regulations of the Dutch market could require additional resources and investments, impacting the company's financial performance.

Dutch entry follows the UK as BetMGM's second international market utilizing LeoVegas' platform & technology

LAS VEGAS, April 30, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") announced today it is launching BetMGM – its wholly owned iGaming and online sports betting brand offering an authentic Vegas experience – in the Netherlands.

BetMGM is set to provide Dutch customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilizing LeoVegas Group's proprietary technology and platform, this expansion represents the second European launch, succeeding a well-received rollout in the United Kingdom.

Gary Fritz, President of MGM Resorts International Interactive said: "We are thrilled to launch BetMGM in the Netherlands and build on BetMGM's successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader."

Gustaf Hagman, Group CEO at LeoVegas Group, said: "Our launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store."

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 Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®.

About LeoVegas Group
LeoVegas Group is a leading international igaming company with a clear vision to create the world's greatest igaming experience. The Group offers online casino, live casino, and sports betting via 9 brands in 10 jurisdictions. The Group continues to grow rapidly, currently employing over 1,400 people in Europe, including at its headquarters in Stockholm and operations hub in Malta. As one of the most innovative companies in the industry, the Group also invests and develops other igaming companies through its investment arm, LeoVentures. In 2022, LeoVegas Group became a subsidiary of the global entertainment company MGM Resorts International (NYSE: MGM). For more information, visit www.leovegasgroup.com.

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 and involve risks and/or uncertainties, including those described in the Company's public filings with the SEC. The Company 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, statements related to the Company's expectations regarding its international expansion. 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: the effects of economic conditions and market conditions in the markets in which the Company operates and competition with other online gaming and sports betting operators and destination travel locations throughout the United States and the world; the design, timing and costs of expansion projects; risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions; and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company 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 the Company 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 CONTACT:

Daniel Valiollahi: LeoVegas Director of Communications and Public Affairs
+46 (0) 70 110 29 34
daniel.valiollahi@leovegasgroup.com

Brian Ahern: MGM Resorts Executive Director of Communications
media@mgmresorts.com

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SOURCE MGM Resorts International

FAQ

What brand did MGM Resorts launch in the Netherlands?

MGM Resorts launched BetMGM in the Netherlands.

Which technology and platform is BetMGM utilizing for its expansion in the Netherlands?

BetMGM is utilizing LeoVegas Group's proprietary technology and platform for its expansion in the Netherlands.

What new product features will BetMGM offer in the Netherlands?

BetMGM will offer Dutch customers exciting new product features such as large-scale jackpots, loyalty rewards, exclusive slots, and compelling sports promotions.

What was the previous successful launch market for BetMGM in Europe?

The United Kingdom was the previous successful launch market for BetMGM in Europe.