MGM Resorts has announced a partnership with leading gaming software developer and technology company, Playtech, to stream live casino games at regulated markets outside the United States.
In other gaming industry news, slot, and video poker manufacturer, IGT, will see its return to Las Vegas after a decade abroad.
Let’s take a closer look at both situations and see how they might impact top-rated sportsbooks in the region.
Bet Live!
Iconic gaming brand, BetMGM, will be streaming single and double-zero roulette and baccarat games as they happen from two of their premium properties on the Las Vegas Strip, the MGM Grand and Bellagio Resort and Casino. This will be powered by one of the leading innovators and gaming technology companies, Playtech, according to an announcement last week.
The new product is called “MGM Live” and it will be available in cooperating regulated markets outside of the U.S. and will be broadcast from those two MGM properties. The MGM Live brand is expected to eventually include exclusive access for BetMGM customers to an assortment of games from the Playtech catalog as well as MGM-branded television game shows, and celebrity-hosted trivia contests.
Bill Hornbuckle, CEO and president of MGM Resorts released a statement, saying, “We believe the content, celebrity talent, and sophisticated gaming experience that we will offer – all from the trusted and highly reputable brands of MGM Resorts – will be unmatched in the industry.”
“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,” stated Mor Weizer, CEO of Playtech.
The new venture is considered a step forward towards the emerging online casino gambling market, which Hornbuckle addressed at a Q1 2024 earnings call, stating, “iGaming is a real opportunity over time.”
IGT Returning to Reno
International Game Technology, or IGT, was a popular manufacturer of slot machines and video poker terminals that had its roots in Reno, Nevada beginning in 1990. The company was purchased by an Italian lottery firm, GTech Holdings, in 2014 for $6.4 billion and its headquarters were moved to London.
Fast forward a decade and, in an example of what’s old is new again, the company has announced it is spinning off the slot and video poker manufacturer, merging it with Las Vegas-based Everi Holdings Inc., into a new company on the New York Stock Exchange with the name and ticker symbol being IGT.
But the silver lining is that management will be based in Las Vegas while the manufacturing will return to Reno. The $6.2 billion deal isn’t expected to close until the first quarter of next year.
Josh Swissman, founding partner and managing director of Las Vegas-based GMA Consulting, commented on the emergence of the newest iteration of IGT and why it happened.
“Sometimes when companies get too big like that and there aren’t a lot of synergies across the different business units, it kind of makes sense to break up those business units again because you can allow separate, discrete management teams that become very focused on the individual components of the business,” said Swissman.
Brendan Bussmann, a gaming industry analyst with Las Vegas-based B Global, said this could be the first of similar mergers and acquisitions in the gaming industry.
“Obviously IGT had been looking at options for its business for a while, and I wasn’t surprised by it,” Bussmann said. “I’m glad to see them coming back to Vegas. But I think this is probably one of many potential M&A activities you’re going to see over the next few years as it relates to the supplier world.”
