BetMGM sets eyes on Ontario launch
BetMGM has firmed up its commitment to its highly anticipated launch into the Ontario market by announcing in a press release that it is expecting to launch both online sportsbook and iGaming offerings in the province later in 2022.
CEO Adam Greenblatt added that bwin, another brand owned by Entain Plc, the 50-50 owner of BetMGM with MGM Resorts International, will also launch in Canada.
“We see this as incremental,” Greenblatt said on a conference call, per Covers. “What we see, even in the U.S., where we have multiple brands, both can thrive. The brands will be operated by different, independent teams. So, we fully see that as incremental to value.”
BetMGM is one of many third-party operators that has already submitted an application for licensing in Ontario. Currently, only the Ontario Lottery and Gaming Corporation is able to offer options including single-event sports betting in the province.
Singles were made legal in late August 2021, but Ontario is still in the process of considering how and exactly when to open up a private sports betting and iGaming market.
The most recent predictions suggested that the market could go live by the end of the first quarter of 2022.
In the meantime, numerous border states in the U.S. have launched online sports betting, including New York in recent weeks. BetMGM entered the New York market on January 17, offering new customers a risk-free bet of US$1,000. In addition to a focus on Ontario, BetMGM anticipates launching online sportsbooks in Illinois and Louisiana in the first quarter of 2022.