New York mobile sportsbooks hit a record $576.1 million in revenue for the week ending October 27, according to the New York Gaming Commission — the highest figure since betting launched in January 2022. BetMGM CEO Adam Greenblatt joins Asking for a Trend to discuss his company’s position in the sports betting landscape.
Greenblatt explains that BetMGM has prioritized “establishing our footprint” by investing extensively in their offerings, products, teams, and player acquisition to strengthen the brand. “Returns have been stellar,” he notes, adding that the company is projected to generate over $2 billion in revenues for 2024.
Greenblatt explains that BetMGM’s relationship with MGM Resorts (MGM) (which owns 50% of BetMGM), sets it apart from the competition. “We see ourselves as the sportsbook born in Vegas,” he states, citing MGM’s “premium qualities.” This partnership enables customers to earn MGM points and rewards, which he notes “reduces the cost of your next trip to Vegas.”
To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
This post was written by Angel Smith
