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MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM

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MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM
MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGMReading Time: 5 minutes

 

ROAR Digital, LLC – the US sports betting and online gaming company operating as BetMGM and owned jointly by MGM Resorts International and GVC Holdings – announced that its shareholders have committed to a second round of investment, bringing the total to $450 million. This increase follows MGM Resorts’ and GVC’s total initial commitment of $200 million and underpins their commitment to BetMGM becoming a leading player in the rapidly growing US sports betting and iGaming markets. These two rounds of investment provide the Company with over $370 million of investable capital at present.

Since its launch in 2018, the Company has made significant progress and is on track to operate in 11 states by the end of 2020. In addition to the financial strength of both its shareholders, the Company benefits from MGM Resorts’ leading brand, iconic physical properties, and loyal customer base, along with GVC’s proprietary, globally-proven technology.

“We launched this business to combine the best of MGM Resorts and GVC, and establish BetMGM as a leading brand in the US sports betting and iGaming markets,” said Adam Greenblatt, CEO of ROAR Digital, LLC. “With broad market access secured, our long-term technology foundations now firmly established, and a high performing team in place, this further unequivocal support from our two shareholders will ensure we can achieve leading market positions in this exciting industry that is growing even faster than our initial expectations.”

Greenblatt concluded, “BetMGM is on track to generate over $130 million of net revenues this year predominantly from iGaming in New Jersey given the impact of COVID-19. With the return of sports and our growing operations across the US, we anticipate rapid growth in the coming year.”

The Company’s success will be built on its four core strategic tenets, each of which provide distinct competitive advantages:

1.  Market access:

The Company has already secured market access to 19 states1 which together reach approximately 50% of the US population. It has active operations in seven states with four more expected to launch by year end 2020.

With a best-in-class web, mobile, and desktop sportsbook platform as well as supporting MGM Resorts’ brick and mortar sportsbook destinations, BetMGM’s exclusive betting engine allows sports fans to place bets quickly, safely and easily in every channel. This superior experience, together with the Company’s demonstrated strength in player onboarding and management as well as GVC’s global sportsbook expertise, places BetMGM in a very strong position to achieve a leading share in the US sports betting market, estimated to achieve revenues of approximately $8.5 billion2 by 2025.

In iGaming, the Company has already achieved a leading market position in New Jersey with approximately 18% market share3 and gross gaming revenue growth of 210% in the second quarter of 2020 compared to the prior year quarter. The US iGaming market is estimated to achieve revenues of approximately $6.9 billion2 by 2025, and the Company believes that it can replicate this leading market position in other jurisdictions, as additional states legalize iGaming in the future.

2.  Customer reach:

The Company is uniquely positioned to access a wide range of customers through its partners, affiliates and its omni-channel approach.

MGM Resorts has an established portfolio of market-leading properties across the US, giving BetMGM access to market to millions of engaged and brand loyal customers. M life Rewards, MGM Resorts’ loyalty program, has over 34 million members, of which approximately 18% are located in states planned to be live on the BetMGM platform by the end of 2020.

The Company is integrating M life Rewards in support of an omni-channel strategy such that BetMGM customers will become M life Members to earn and enjoy Tier status, recognition and rewards based on their sports and iGaming wagers. Likewise, existing M life Rewards members will now have a new way to earn Tier Credits and status based on sports and iGaming wagers placed with BetMGM. This integration is expected to drive new customer acquisition, omni-channel activity, as well as ongoing customer loyalty and engagement for BetMGM.

In addition, the Company has exclusive partnerships with Yahoo Sports and Buffalo Wild Wings. Upon the imminent return of sports, the Company is looking forward to launching BetMGM to Yahoo’s 64 million monthly active users, including one of the largest fantasy sports player bases in the US.

3.  Product and technology:

BetMGM has exclusive access to GVC’s proven, highly flexible, and highly scalable in-house technology platform, which gives it world-class infrastructure, tools and content in both iGaming and sports betting.

Access to proprietary and vertically integrated technology is a key strategic advantage in delivering a leading sports and gaming proposition to customers. Core benefits include speed of development, reducing time to market on innovative new features, platform stability and flexibility, and ease of use.  The technology platform has been fully optimized ahead of the return of US sports, with the Company enjoying support from a team of over 2,000 IT specialists, including a dedicated team servicing the BetMGM product.

The Company also benefits from the maturity and rich features of GVC’s sports product, including an immersive in-play betting experience across an exhaustive range of sports as well as a range of industry leading bet management features such as Bet Rewards, Odds Boosts, Build-A-Bet, Edit-My-Bet and Auto Cash Out features. Combined with state-of-the-art engagement capabilities, best-in-class frictionless customer experience, as well as powerful omni-channel journeys and cross sell capabilities this gives BetMGM significant technological and experiential advantages. Internally developed, exclusive iGaming content has been key to BetMGM’s success in New Jersey. The current strength of product and technology, combined with the pace of improvement and innovation, strongly supports the Company’s leadership ambitions.

4.  People: 

In addition to being able to draw on the outstanding talent within both MGM Resorts and GVC, the Company has built an industry-leading team across a range of functions, including marketing, technology, product development, and customer engagement and retention.

The team has been hand-picked and combines deep industry experience from around the globe with US specialists in areas where local expertise is vital such as VIP, product UI/UX and customer research.

The US-based trading leadership team has a track-record of building trading operations and winning market share from incumbent players in the sports betting market. The approach and techniques further support the Company’s growth agenda.

“Sports betting and iGaming are fundamental to what MGM Resorts does best,” said Bill Hornbuckle, Acting CEO & President of MGM Resorts. “Our investment in ROAR is a demonstration of our continued excitement about the unique benefit of offering unforgettable, premier entertainment experiences to millions of our loyal guests directly through BetMGM. We believe this competitive advantage places BetMGM at the forefront of the most dynamic growth opportunity in all of US gaming and will ultimately deliver meaningful long-term value for our shareholders.”

“These are exciting times for BetMGM, as it continues to expand its iGaming business while also offering customers an outstanding sports betting experience as live sports returns to the US,” said Kenny Alexander, CEO of GVC. “We see enormous potential for the US market and are delighted to have such a strong foothold in it through our partnership with MGM Resorts. Our stake in BetMGM is, by some distance, the most important and exciting investment that GVC has ever made. We are absolutely committed to ensuring that the Company has the funding and technical resources needed to achieve long-term market leadership, whilst delivering significant value for shareholders.”

 

SOURCE MGM Resorts International


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Mandalapu Sreesanth Dominates Street Fighter 6 Finale, Secures Main Player Spot for 3rd Asian Youth Games

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The National Esports Championships (NESC) 2025 concluded on July 27 with an electrifying Street Fighter 6 (Boys) finale, where India’s top under-18 talent, Mandalapu Sreesanth, delivered a commanding performance.

Facing off against formidable opponent Ansil Nalakath Abbas, Mandalapu clinched a decisive 3-0 sweep in the best-of-five series, sealing his position as the main player to represent India at the 3rd Asian Youth Games (AYG) in Bahrain from October 22–31, 2025. Ansil will join the contingent as the official substitute for the event.

A seasoned competitor with over four years of professional esports experience, Mandalapu is widely regarded as India’s #1 ranked under-18 Street Fighter 6 player. His decorated track record includes winning the Versus Cup 2024 and emerging as the Khelo India Youth Games Champion, cementing his status as a leading figure in the country’s fighting game community.

This finale was a crucial milestone in the national selection process for the AYG, which will see India compete against the best young talents from across Asia. Both players’ inclusion marks a strong representation for the country in the fighting games category.

Excited to represent India, winner of the Street Fighter 6 tournament, Mandalapu Sreesanth, said: “I’m truly honoured to have secured first place in Street Fighter 6 at the NESC 2025 and earned the chance to represent India at the upcoming Asian Youth Games. This win is not just a personal milestone but also a reflection of the discipline, dedication, and countless hours of practice over the past months. As I prepare for the AYG, my focus is on studying high-level international gameplay, refining my fundamentals, sharpening my reaction time, and deepening my matchup knowledge. I’ve been training with top-ranked players to strengthen both my competitive mindset and in-game adaptability. My ultimate goal is to make the country proud and bring home a medal. The journey has only just begun, and I’m committed to giving it my absolute best.”

Looking ahead to the tournament, Ansil Nalakath Abbas, said, “I’m grateful to the Esports Federation of India for giving me this opportunity. Representing my country is always a matter of immense pride. From the final match, I’ve identified key areas for improvement, and I’ll be working tirelessly in the days ahead to strengthen my gameplay. My focus is on giving my absolute best and making sure I make India proud.”

Speaking on the players’ achievement, Lokesh Suji, Director, Esports Federation of India, said, “We are incredibly proud of both Mandalapu and Ansil for their outstanding performances at NESC 2025. Their skill, dedication, and sportsmanship are a testament to the growing talent pool in Indian esports. Representing India at the 3rd Asian Youth Games is both an honor and a responsibility, and we are confident they will make the country proud. ESFI will continue to provide them with the support and exposure they need to prepare for the challenges ahead in Bahrain.”

The qualifiers for eFootball at NESC 2025 are set to take place later this month, continuing the journey of selecting India’s esports representatives for the 3rd Asian Youth Games.

 

The post Mandalapu Sreesanth Dominates Street Fighter 6 Finale, Secures Main Player Spot for 3rd Asian Youth Games appeared first on European Gaming Industry News.

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GameRamp Raises $5.4M Pre-Seed Round Led by BITKRAFT Ventures

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GameRamp, an AI-native publishing operating system built for the next wave of mobile games & consumer apps, has raised a $5.4 million pre-seed funding round led by BITKRAFT Ventures, and backed by South Park Commons, Mixi, DeVC along other prominent global angels.

The capital raised will accelerate GameRamp’s expansion of its engineering and applied AI teams in the USA and India. The investment will also expedite the launch of two services: Sentinel, an AI platform offering real-time personalization of in-game economies and monetization through reinforcement learning; and Grow, a one-click embedded financing layer to provide developers seamless access to capital.

Founded by Vivek Ramachandran and Sashank Vandrangi, GameRamp empowers developers to experiment and deploy their monetization strategies in a fully-automated fashion. This helps studios drive a 40–60% increase in revenue and scale faster. GameRamp continuously improves in the background, ensuring that the user experience is always optimally tuned.

“Scaling new apps or games has increasingly become hyper-competitive, Developers need to be best-in-class in an array of disciplines outside the core product experience. What if we could turbocharge this with AI?” said Vivek Ramachandran, Co-founder & CEO of GameRamp. “It isn’t just above improving existing processes; it’s enabling a completely new level of experimentation and insight. Our partners across regions like Vietnam, India and Turkey are seeing strong results and we are excited to launch globally in the near future”

Anuj Tandon, Partner at BITKRAFT Ventures, added: “GameRamp’s team embodies a blend of deep expertise across machine learning, product growth and investing. They have a unique perspective on what it takes to win in hyper-competitive markets, and their obsession with developer outcomes shows in their early customer love. This positions GameRamp to fundamentally redefine how consumer internet entrepreneurs scale in emerging markets. As we kick off our deep focus on emerging markets, GameRamp stood out as the obvious partner for one of our first lead investments in the region. Their vision and execution gave us confidence to back them as a global fund.”

 

The post GameRamp Raises $5.4M Pre-Seed Round Led by BITKRAFT Ventures appeared first on European Gaming Industry News.

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One Grand Final – Where Pro Fishing Meets Mobile Gaming

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Fishing Clash and Major League Fishing cast lines across virtual and real world for the MLF Grand Final

From August 4 to 11, Fishing Clash players will dive into the thrill of MLF’s Grand Final through a special in-game event that coincides with the conclusion of the 2025 Major League Fishing Bass Pro Tour season. It’s a unique moment where the world of professional angling meets digital gameplay, closing chapter of the MLF season, both on the water and in-game.

The Fishing Clash Angler of the Year will be awarded during the Bass Pro Tour Stage 7 on Saginaw Bay in Bay City, Michigan. At the same time, Fishing Clash will honor its own champions, awarding exclusive MLF-branded prizes to the game’s top 5 players.

Set on a specially prepared virtual Saginaw Bay fishery, the event coincides with the real-world championship held in Bay City, Michigan, from August 7 – 10. This is the most immersive experience yet for Fishing Clash’s 80 million players, uniting digital gameplay with the drama of professional angling’s biggest stage.

The in-game event consists of three interconnected parts, offering something for every player. The in-game MLF Grand Finals are open only to qualified players who earned at least three of five event tickets over the past six months. These players will face eight days of competitive challenges, with themed fish lists, exclusive vanities, and special offers.

But the MLF Grand Finals are not just for finalists. From August 8 – 11, the MLF Fishing Quest will invite all players to join the action by catching a special MLF fish and earning leaderboard points.

As part of an expanded creator activation, Ten Square Games has partnered with top fishing influencers – Fletcher The Fisherman, Jacob Knowles, and Fishin with Tate – to power the excitement in two waves. In the lead-up to the Grand Final, each influencer will release exclusive video content and share special gift codes that unlock boosters and leaderboard access, encouraging their followers to join the in-game action. For the first time ever, Ten Square Games is inviting all three creators to attend the final stage of the Bass Pro Tour in Bay City, Michigan.

Their on-site presence will offer followers real-time, behind-the-scenes coverage directly from the heart of the event via their Instagram channels. The experience will culminate in a livestreamed announcement of the Fishing Clash Angler of the Year – inviting fans and players alike to share in this milestone moment of the season across both worlds.

Across all activities, players can unlock custom MLF-themed vanities – including avatars, frames, rods, and lures, and win valuable in-game rewards. This unique event celebrates not only the ongoing partnership between Fishing Clash and Major League Fishing, but also the passion and dedication of the game’s player community.

Fishing Clash Angler of the Year: real-world recognition

The Fishing Clash Angler of the Year title is among the sport’s most challenging accolades, rewarding consistent performance throughout an entire season across diverse fisheries. The Bass Pro Tour Fishing Clash AOY must outperform 65 of the world’s best anglers through seven tournaments – showcasing the same versatility and perseverance Fishing Clash players demonstrate in-game.

Fishing Clash will award Angler Of the Year titles across four MLF real life circuits:

  • Bass Pro Tour Fishing Clash AOY,
  • Tackle Warehouse Invitationals Fishing Clash AOY,
  • Toyota Series Fishing Clash AOY,
  • and Phoenix Bass Fishing League Fishing Clash AOY.

This crossover between professional and digital fishing brings both communities together uniting passion, skill, and a love for the sport in an unforgettable finale both in real life and in-game.

 

The post One Grand Final – Where Pro Fishing Meets Mobile Gaming appeared first on European Gaming Industry News.

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