MGM Resorts International is already in the New Jersey online gambling market via its ownership of Borgata. That gives the casino giant oversight of its online gambling and poker platforms in the state. <\/p>\n
But now, MGM is bringing its own branded site to New Jersey gamblers. Will that change the dynamics for NJ online gambling sites? <\/p>\n
First, heres what we know about MGM and online gambling. <\/p>\n
The companyalready operates online casino and poker via its Borgata brand. It also has offerings via Pala(casino) and PartyPoker NJ. <\/p>\n
That apparently isnt enough for MGM, however, as it has plans to roll out a site branded as playMGM. It will be much like the current Borgata platform, just with MGM branding. The site should go live some time later this year. <\/p>\n
Its a big deal, because outside of some small-scale online slot tournaments in Nevada, MGM has never offered online gambling under the flagship banner. More from an MGM presser: <\/p>\n
This is a historic moment for MGM Resorts to be launching real money online casino and poker under the MGM brand for the first time, said Corey Sanders, chief operating officer of MGM Resorts. GVC has been a first-rate partner for us, and we are excited about the possibilities of extending that partnership as regulated markets open up in the U.S. <\/p>\n
The NJ iGaming marketplace already has a lot of different operators. Golden Nugget currently leads the way, while Caesars, Harrahsand Tropicana are among the best-known brands in the market. <\/p>\n
Well, theres always room for more operators; the question is whether the effect will simply take away from existing sitesor have an additive effect. Theanswer is somewhere in the middle. <\/p>\n
PlayMGM will cannibalize some of the existing online gambling revenue in New Jersey; a lot of existing customers are likely to move their play to the new site. <\/p>\n
At the same time, the MGM brand is widely known in the US and in New Jersey, even without a casino bearing its name in the state. That brand recognition could create and attract new customers that didnt exist before. <\/p>\n
The online casino market has set records for revenue in the past two months, so theres certainly a chance that the industry isnt done growing. And the addition of playMGM could spur more growth. <\/p>\n
Weve seen new brands come into the market and succeed in the past few years; undoubtedly MGM can do the same. It simply comes at a point where the industry is more mature than during other sites entry points. <\/p>\n
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MGMs move in New Jersey is important at the micro level. However, its even more important from a wider angle. <\/p>\n
MGM is saying pretty loudly that it wants to be in the online gambling business in New Jersey. That means it probably wants to be in other legal and regulated markets, should the opportunity present itself. For one, it probably has its eye on Pennsylvania, which is considering legalization of iGaming. <\/p>\n
The presence of MGMin online gambling could mean big things for the spread of online gambling beyond New Jersey. Legalizationefforts couldbenefit from MGMs lobbying. <\/p>\n
For now, however, well look to see how MGM fares with its coming offering in the Garden State. <\/p>\n
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Will MGM Move The Needle With Its New NJ Online Gambling Platform? - NJ Poker Online<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" MGM Resorts International is already in the New Jersey online gambling market via its ownership of Borgata. Continue reading