BetMGM Takes Proactive Measures to Safeguard Market Dominance

In recent months, BetMGM, currently the third-largest online gambling brand in the US, has experienced a decline in market share. CEO Adam Greenblatt addressed the situation, outlining strategies to regain ground amid heightened competition. The emergence of ESPN Bet, amassing 1.1 million downloads in its first week, and the success of Fanatics in West Virginia pose significant threats.

Greenblatt emphasized BetMGM's resilience in the face of formidable competitors, highlighting the company's commitment to customer engagement. The revamped app for the NFL season demonstrates BetMGM's dedication to retaining its customer base and not conceding further ground in the market.

BetMGM's focus for 2024 involves significant improvements in sports betting, leadership retention in online casino gaming, and refining cross-selling methodologies. The recent acquisition of Angstrom by Entain aims to enhance BetMGM's sports-betting product, offering diverse betting opportunities.

On the casino side, BetMGM plans to merge physical retail and digital experiences, leveraging the MGM Resorts brand. This approach aims to enhance engagement and create cross-selling opportunities between casino games and sports betting, utilizing partnerships with teams and leagues.

Despite macroeconomic challenges such as inflation and rising interest rates, Greenblatt expressed confidence in BetMGM's proactive stance and commitment to innovation. The operator remains optimistic about overcoming potential setbacks and maintaining its leading position in the market.