The announcement comes as BetMGM expands into the Netherlands, marking MGM Resorts' second European market after the UK.
The BetMGM
This is in keeping with the international expansion goal that BetMGM's owner, MGM Resorts, has previously stated.
This is the second European launch using LeoVegas Group's patented technology and infrastructure; the first was in the UK last year. For $604 million, MGM Resorts bought LeoVegas in 2022.
Players may anticipate a plethora of new features, such loyalty rewards and frequent jackpots, on BetMGM's new Netherlands service, which is anticipated to be similar to its UK offering. New sports promotions and special slots are also available to players.
The most recent foreign expansion of MGM Resorts' BetMGM
In the eyes of MGM Resorts International Interactive president Gary Fritz, this is a pivotal step in the company's global expansion.
Following BetMGM's phenomenal growth in other countries, we are ecstatic to introduce the brand to the Dutch market. An intriguing possibility exists in the Dutch market. In our pursuit of becoming the preeminent gaming company in the world, it will play a significant role in our worldwide expansion plans.
It has also been confirmed that the BetMGM Netherlands sportsbook would be powered by Kambi. The arrangement with LeoVegas dates all the way back to 2016, and this is the outcome of that agreement. In June of last year, they renewed their most recent partnership.
Following its acquisition of LeoVegas in 2022, MGM is expanding its interactive capabilities and planning a launch in the UK for 2023.
In May 2023, it also bought out Push Gaming, a company that made games and compiled them. An in-house slot studio was added to its portfolio as part of the deal. Gustaf Hagman, CEO of LeoVegas, explained to iGB that this is in line with the company's objective to control "a large part of the value chain in this industry" back in 2016.
"Our launch in the UK was tremendously successful," Gustaf Hagman stated while discussing the launch in the Netherlands. We can't wait to offer the glitz and glamour of Las Vegas to the Dutch people. Although our entry into the Dutch market marks a significant milestone in our global expansion, there is still a great deal more to come.
Could the BetMGM debut in the UK lead to a similar launch in the Netherlands?
There is a lot of room for growth in the Dutch market. An overview of the Dutch market was provided by the recently issued Spring 2024 online gaming report by the Netherlands regulator, Kansspelautoriteit (KSA).
Revenue from gambling in 2023 was €1.39 billion, or £1.19 billion plus €1.49 billion. From €1.08bn in 2022, this was a 28% rise.
In 2023, there was a notable increase in the overall number of player accounts. According to the Saudi government, there are around 1.1 million active accounts across the nation. As a whole, it predicts that 726,000 players are engaged with legitimate providers.
Earlier this year, BetMGM's UK director Sam Behar discussed the company's early success in Europe in an interview. Undoubtedly, the business will seek to repeat this.
With deep roots in Sin City and the enduring success of the MGM Grand and the Bellagio, BetMGM boasts an incredibly recognisable brand in the United States.
According to Behar, "It's been an unbelievable first five months entering the UK - especially given the way we did" (January 2024). We set out with a singular goal in mind: to make things function, and we've accomplished that, to a great extent. It's safe to say that gamblers adore our wares, particularly the Las Vegas feel we've introduced to the British market.
The entrance of BetMGM into the UK was heralded by an extravagant advertisement, which featured comedian Chris Rock beside a lion atop a golden speedboat cruising the River Thames.
Emergence of trouble in the United Kingdom
On the other hand, advertising in the Netherlands is going to be more difficult for BetMGM.
Parliament has passed a bill outlawing all forms of gambling advertising. This is in continuation of the 1 July 2023 implementation of the prohibition on untargeted advertising in the Netherlands. Consequently, it became illegal to air or publish commercials on radio, television, or in outdoor spaces. The prohibition also applies to sports sponsorships.
With BetMGM's UK launch mostly focused on sponsorship and partnerships negotiated with Premier League clubs such as Manchester City, Wolves, Brighton, Aston Villa, and Newcastle, the Netherlands will certainly present a greater challenge.
Even more perilous than earlier this month's vote to outlaw all types of advertising is a larger initiative by the Dutch house of representatives. Additionally, a vote to outlaw all forms of gambling (slot machines) was carried out on April 16th. Derk Boswijk, a member of parliament, proposed the measure.
The House of Representatives has already voted in favour of a prohibition like this, but getting it passed into law will require a separate lawsuit. Franc Weerwind, the Dutch minister of justice, will now take over. The law will need to be reviewed and approved by him.
The NOGA, which stands for the Netherlands Online Gambling Association, has responded to the vote by drawing attention to the dangers posed by the underground market.
Accusing the actions of being "thoughtless and irresponsible," NOGA cautioned Weerwind against making judgements that could not be undone. "The house is trying to force a decision based on wrong figures, assumptions and unrealistic fears," stated NOGA director Peter-Paul de Goeij.'
Ninety percent of Dutch gamers, according to NOGA's calculations, wager with legitimate suppliers. But the group is worried that people would turn to the black market again because of the new restrictions.
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