Gambling is being legalized in many states. That means that the position held by Las Vegas in this industry is slowly being taken over by other states such as New Jersey. Moreover, MGM has been on the rise in the recent past because of the initiatives they have put in place when it comes to the online gambling business.
What is MGM, and what does it do? It is a company that is currently considered among the largest casino business operators in the US. In Las Vegas alone, the company is known to generate more than $4 billion annually.
Lately, the company is making moves to become the market leader in the online gambling industry. This is in a bid to reach more people, generate more revenue, and become the brand that every player identifies with.
The company is determined to consistently and persistently implement its initiatives across all the avenues it can manage. The objective is to achieve the best online gambling results compared to other industry players.
What Are the Initiatives by MGM in Online Gambling?
MGM resort has been on the front foot, promoting its brand and gambling across several states in the US. What are the steps this company has taken?
Partnership with Boyd Gaming Company?
When it comes to online gambling, the market one can access matters. In most cases, partnership helps. That is why MGM does not take this aspect lightly.
By signing Boyd Gaming, a powerhouse when it comes to matters gaming, the company intends to expand its market reach. The advantage is that Boyd is a company with experienced managers when it comes to the operation of sportsbooks. Moreover, they perfectly understand how the Las Vegas gaming market operates.
With the agreement, the companies have access to the properties they all own. Therefore, they can easily collaborate on platforms such as poker and casino gaming. Because these companies can access 15 states together, it means they have expanded their online gambling market.
Collaboration with Yahoo and Buffalo Wild
Marketing is an important aspect of online gambling. If you can access a huge chunk of the market, your chances of success in the industry are enhanced. That is what MGM is looking at when operating in the online gambling industry.
The deal with Yahoo has the potential to bring many changes to the gambling industry. Yahoo is to integrate the content they receive from MGM into their sporting App. That means the online gamblers within the states that have legalized gambling can access the casino games operated by MGM through Yahoo.
Another deal that puts MGM at the forefront of the gambling industry is the collaboration with Buffalo Wild Wing, a company that operates more than 1,000 bars across different states in the United States. This deal goes a long way in improving the standing of the company among the clients.
A Deal with the National Hockey League (NHL)
As Sharon Robinson from NJGamblingFun says, “there is an interconnection between sports and gambling. The casinos in New Jersey are developing at a fast rate because they have embraced this fact. They work with sporting outfits so that they can achieve success faster in the online gambling industry.”
This is an aspect that MGM has taken seriously over the last few years. Their collaboration with sporting teams has come a long way in making people know that they are a company that should not be ignored in this industry.
The association with NHL means that the company can now access hockey lovers. In the process, their market reach can grow. With time MGM resort will achieve the market leader tag that they have always been working for.
Investment in Online Gambling Application
According to Business Wire, the global gambling market is highly competitive. To win clients, a company has to make the right efforts. One of the best ways to win over the clients is to ensure that they can gamble conveniently without necessarily going to the land casinos.
Although MGM leads when it comes to the establishment of land gambling ventures, they have been low in the creation of an Application that can help players in gambling. However, the company is now taking mobile gambling seriously.
They began by releasing the Android app for the players to use. After a while, they created a PlayMGM that works perfectly, even with iOS devices. This is a clear sign that the company wants to move to the next level when it comes to online gambling.
How have mobile apps helped the company? Over 70% of profits in the industry come from online slot machines. Therefore, investing in online gambling enables the firm to capture the tech-savvy clients, and hence the business moves in the right direction.
Spearheading Responsible Gambling Campaigns
According to Healthy Place, one reason why people gamble is that it is human nature to feel excited when taking risks. Companies, however, should look for ways to educate the players so that there are no issues such as addiction to gambling or cases where people commit suicide because of the outcomes of the games they play.
As seen on the Fortune, companies based in the Vegas strip are increasingly stepping up as responsible global citizens. It is because of this that MGM has begun initiatives to enlighten their players on how to make responsible gambling decisions.
According to the company, the initiative is also aimed at improving the relationship with the customers. Customers have praised the move by the company.
What Is the Effect of These Initiatives?
MGM is a company that is strategic in how it approaches issues. For instance, according to Hotel Business, MGM has unveiled a strategic plan to improve efficiencies, reduce costs, and boost the company’s position for growth. That is why the moves it takes in the online gambling industry yield results, and it has achieved a lot in a bid to reach more people on the market including:
- Better relationship with the regulators
The agencies that regulate the gambling sector in the US can see that the company obeys the law and cares about the clients.
- Larger market reach
The company has put many marketing strategies. Consequently, it has led to a wider market reach.
- Improved relationship with customers
Clients feel the company cares about them. Therefore, they feel comfortable playing their casino games.
The Bottom Line
Technological evolution is not the sort of progress that waits for anyone. MGM, therefore, has seen the potential rewards of online gambling and is investing heavily in it. It is predicted that through this initiative, the company is likely to become a force to reckon with in the future.