MGM Resorts has outlined plans to expand its online gaming channels globally.
Speaking at the Bank of America Securities 2021 Gaming and Lodging Conference on Friday, 10 September 2021, MGM’s Chief Financial Officer Jonathan Halkyard said the company was actively steering itself towards an asset-light model that would see it focus primarily on gaming operations rather than ownership while continuing expansion of its online gaming business BetMGM.
However, it is likely that this expansion will eventually continue overseas given the absence of substantial new land-based resort opportunities and MGM’s reluctance, outside of Macau and Japan, to invest in such resources.
MGM Resorts holds a controlling stake in MGM China, operator of MGM Macau and MGM Cotai, and is leading a consortium looking to develop an IR in Osaka, Japan.
“When I think about what this company needs to be, definitely the best-known brand, most trusted brand in gaming,” Halkyard said.
“Casual, high-end and hopefully in as many distribution points with the highest availability in this country.
“Then to the extent that it is regulated, online offerings internationally.
“Realistically the opportunity for integrated resorts is not going to be in a wide number of jurisdictions and the capital cost can be pretty extreme but in our spots – Macau and Japan – we would expect to be a player there. So the best brands, [most] trusted brands available anywhere and premier in gaming.”
MGM is looking to implement an omni-channel strategy for BetMGM by which online customers globally would become members of MGM’s M life Rewards program and therefore receive points and rewards for their online play.
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