BetMGM’s appetite whet for further expansion in Europe, LatAm

BetMGM’s most recent launch in the Netherlands has not stayed the company’s hand in seeking to execute more launches in promising markets, as the firm is now gearing up to push into and drive forays in Latin America and Eastern European, although specific details about how this would go down are still scarce.

This confirmation comes from MGM Resorts International President and CEO Bill Hornbuckle who commented on the potential future expansions for the BetMGM brand during an earnings call and confirmed that the aforementioned regions were indeed an imminent target for the company.

He noted that MGM was fully focused on expanding the digital side of "our other business, meaning the LeoVegas business," and argued that this was about the expansion of BetMGM’s brand. LeoVegas has seen a "rebound," especially in places such as Sweden, Hornbuckle continued.

However, places, such as South America, as well as the Latin American region in general, are an important part of this future growth strategy, Hornbuckle said.

"None of that happens overnight but like what we’ve done in terms of positioning the products that we have and the foundation we’ve built, particularly there and some of the things we were brought to add going down the road to stabilise that business and to own all of that business. We’re excited by that," the executive cautioned, as he is aware that BetMGM’s international forays should be conducted in a controlled and targeted approach to avoid overspending on expansion without taking into consideration the potential returns.

Yet, there are reasons to be cheerful, according to the executive. The surprise BetMGM launch in the United Kingdom last year went done well, Hornbuckle said, with the brand actually performing "exceptionally well," with LeoVegas’ own operations seeing a strong uptake and growth as well.

The LeoVegas network is an important opportunity for the BetMGM brand to increase its presence and expand at a good pace across global markets. Although Hornbuckle spoke about the two regions, Latin America and Eastern Europe, he did not go into too many details about the company’s next market-entry targets.

Yet, there are some clear favorite picks. For example, BetMGM would be remiss not to pursue market share in Brazil, which is regulating its online casino and sports betting industries right now, meaning that an operator of BetMGM’s stature could get an early start and vie for market share.

As to Eastern Europe, Hornbuckle mentioned no immediate countries as a priority during the earnings call.

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