During an investor day earlier this month, BetMGM announced significant improvements to its sportsbook that should help immensely with cross-selling strategies. Members of the BetMGM brass had expressed over the summer that its product was not up to par.
The company partnered with Angstrom Sports to improve the platform, which is going to help both the sports betting and online casino verticals. BetMGM CEO, Adam Greenblatt, spoke of those improvements and certain cross-sell strategies that are going to help BetMGM compete as one of the top PA online casinos.
How BetMGM Sportsbook PA has improved through Angstrom Sports partnership
During a Q2 2023 earnings call, BetMGM announced that it had relinquished market share in the online casino space. BetMGM Casino PA dropped from 31% market share to 27%. MGM Resorts International CEO, Bill Hornbuckle, said on the call:
“Candidly, it’s back to what I said earlier. Our product is not where we want it to be.”
BetMGM entered a partnership with Angstrom Sports, hoping to improve its sports product, which in turn, would help with cross-selling for its online casino. The operator announced a slew of enhancements and improvements to BetMGM Sportsbook PA. Some of those included:
- 25% increase in loading speed times
- Upgraded user experience/interface across registration and market discovery pages with improved payment functionality
- Expanded market coverage with greater availability and combinability to build same game parlays
It’s unclear to tell exactly how much of Angstrom’s capabilities have been used in Pennsylvania. However, Greenblatt said that full integration across all markets will take place in 2024. Markets, including Pennsylvania, are going to see the effects of Angstrom:
“Certainly the new and enhanced sports products rolling out from Angstrom will expand the breadth and quality of our parlay and live offerings,” Greenblatt said on BetMGM’s investor call earlier this month. “And the parlay offerings in particular will have higher expected margins than standard six pack markets.”
Cross-selling into Pennsylvania online casino is a high priority for BetMGM
DraftKings talks a lot about cross-selling from its sportsbook into DraftKings Casino PA. CEO Jason Robins attributed the product as the largest reason for retention and success.
“It’s kind of like this halo effect of when you retain better and cross more people into the NBA on the sports side, that then has some spill-over effect on iGaming,” Robins said in August during a Q2 2023 earnings call.
It’s clear that BetMGM is taking a page out of DraftKings’ book, which recently became the leader in online gambling in terms of combined sports betting and online casino market share. Greenblatt disclosed that “around 65% of our sports players in the multi-product states engaged with either casino or poker or both.” Despite calling 2024 an “investment year,” Greenblatt is much more confident in his product. He said:
“Having a substantial and growing, vibrant and healthy online sports betting business is one of the drivers of an equally vibrant gaming business. And so, we’re leaning into that in 2024 and beyond.”
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BetMGM’s other investments for its PA casino online
In addition to upgrading the sportsbook product, BetMGM has made other improvements to its online casino.
BetMGM has invested in a partnership to launch some of the most unique and popular PA slots on the market. Examples include:
- Using famous movies, such as The Godfather, to create slot content
- BetMGM partnering with a national chain, Buffalo Wild Wings, to launch a new slot
- Taking a popular retail slot, such as Buffalo, to produce a new online experience
- Launching new Wheel of Fortune slots in Pennsylvania to mirror the show’s promotional calendar
BetMGM has one of the most robust slot offerings in the state. Of the nearly 8,500 slots available across 21 platforms, BetMGM supplies 729 slots, which is fourth behind the following:
- Borgata Casino PA: 1,616
- BetRivers Casino PA: 756
- DraftKings Casino PA: 735
In a presentation for investors, BetMGM also noted a personalized casino lobby for players is nearing, along with player progression and accomplishment journeys, enhanced with rewards and unique experiences.
BetMGM is hopeful that investments in both verticals result in a significant market share.
