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MGM Resorts president Bill Hornbuckle has expressed confidence in the operator’s US online sports betting joint venture with Entain, BetMGM.

Speaking at a JP Morgan conference, Hornbuckle commended Entain’s interim CEO Stella David’s transparent approach in tackling challenges.

“Look, we like the partnership we’re in,” Hornbuckle said in conversation with analyst Joseph Greff, adding that “you got to recognise a problem to solve a problem.” 

“We obviously follow very closely what’s happening with Entain. It’s kind of hard to miss. But for now, we’re going to stay focused on driving the business that exists today,” he said. 

“We’ll take it one day at a time.”

Hornbuckle also praised BetMGM’s launch in the UK.

“We wanted to prove that we could go in a market, particularly a mature market, and expand it. And we’ve been able to do that so far,” he said.

“We’re looking for other markets now to bring BetMGM internationally, and that will be our next goal and our next aspiration,” he stressed.

The parlay product

However, Hornbuckle also acknowledged challenges, including a loss of market share in the US.

“The principal thing is that our product isn’t where it should be.” He said Entain had recognised it, and “we obviously have recognised it.”

Nonetheless, he expressed optimism about improvements, including enhancements to BetMGM’s parlay product and the roll-out of a unified app experience across different states.

He stated that the principal reason for FanDuel’s and DraftKings’ dominance is the quality of their parlay product.

He also highlighted the success of games studio Push Gaming, which MGM acquired as part of the LeoVegas deal, and said “that business is doing exceptionally well.”

What’s next?

“There are two things missing in my mind,” said Hornbuckle.

One is sports betting technology, as BetMGM is currently powered by Kambi. 

Hornbuckle stated: “We are hot on the track of and we ultimately plan on securing [it] in the next couple of months.”

The other area, the executive said, is live dealer, for which MGM currently uses Evolution. 

“We think our brand, our name’s sake, and what we do is very relevant in that space, and we want to be in that business, broadcasting from Las Vegas and other markets,” he said. 

On the iCasino front, Hornbuckle emphasised its critical role in MGM’s business.

He described iGaming legislation efforts “in every single state” as a “big deal”. 

However, he also stressed that only once iGaming is legal in 10 to 12 states would the “dynamic change in a meaningful way.”

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