23 August 2018
Launch of playMGM mobile sports betting app in New Jersey
GVC Holdings PLC and MGM Resorts International, through their recently announced US sports betting joint venture, are delighted to announce the launch today of the “playMGM” mobile sports betting product in New Jersey.
The playMGM NJ Sports betting app features markets on a full range of US and selected international sports with customers able to sign-up, deposit and withdraw cash directly from their mobile devices from any location in New Jersey. The sports betting app features a single wallet that enables existing and new customers to view their total account balance and easily apply available funds to their choice of sports betting, casino or poker products.
The app has initially been soft launched on the Android platform, with an iOS version due to launch imminently. The app is supported by a strong pipeline of new products and features that will be introduced over time, as the sports betting market in New Jersey develops.
Adam Greenblatt, GVC Director of Corporate Development and Strategy stated:
“We are delighted to launch our new playMGM sports betting app in New Jersey, and believe that the joint venture’s rapid entry into this market puts it in a very good position to take market share. While time to market is clearly important, we are also focused on our proprietary product development roadmap which will see new features introduced quickly, and without 3rd party technology dependencies. The app provides customers the opportunity to place bets on all major US sporting events anytime and anywhere within New Jersey, and represents a significant first step for the joint venture’s operations in the US mobile sports betting market.”
Scott Butera, MGM Resorts International President of Interactive Gaming said:
“Beginning today, our loyal New Jersey customers can enjoy the convenience of mobile sports wagering on our playMGM NJ Sports mobile betting app. Our partnership with GVC Holdings positions us as a leader in technology, accessibility and sports betting expertise. We look forward to building on our success in New Jersey and expanding our sports betting offerings as the national leader.”
David Rydell / Chris Lane /Jamie Hooper / Gemma Mostyn-Owen
+44 (0) 20 7466 5000
ABOUT GVC HOLDINGS
GVC Holdings PLC is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino and partypoker. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK's largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 100 index and has licences in more than 20 countries, across five continents.
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 28 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company in 2018 opened MGM COTAI in Macau and the first Bellagio-branded hotel in Shanghai. It also is developing MGM Springfield in Massachusetts. The 78,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information visit us at www.mgmresorts.com.
Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the SEC. MGM Resorts 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 regarding the ability of the joint venture to expand its sports betting offerings, take market share and bolster land based sports wagering. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts and GVC operate and competition with other 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 MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts 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 Resorts 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.