Casino conglomerate, MGM Resorts International, is looking for ways to enter Pennsylvania online gambling market in what appears to be - a hurry. According to the paperwork submitted to the Pennsylvania Gaming Control Board (PGCB), MGM has applied for all three available categories of PA online gambling licenses, and is the only confirmed applicant so far. If the situation remains unchanged, the global hospitality company will get the opportunity to achieve all three of the $4 million licenses.
Formal application has been submitted using the Borgata Resort and Casino’s NJ licenses.
Metro-Goldwyn Mayer already operates online casinos and offers video poker and sports betting (via online apps) in NJ, under the playMGM brand.
Unclaimed PA Licenses
The PGCB has offered an exclusive right to its 13 casino licensees to apply for the additional approval that would allow them to operate online poker, online slots, and online table games as well. There were 39 permits available, 13 of each kind. Originally, seven online gambling licenses remain unclaimed. The additional three became available when Rivers Casino in Pittsburgh withdrew its application, bringing the count up to 10.
The unclaimed PA licenses include: 4 for online poker, 3 for online slots, and 3 for online table games. However, sports betting licenses are still unavailable.
The PGCB has invited non-PA qualified gaming entities (QGEs) to apply for the remaining licenses before Oct. 31. They will be awarded through a random draw, but the date has not been set yet. Draw winners will have two months to finalize their applications.
As for the actual date of the draw, sources claim the earliest one possible is around Nov. 28, when the PGCB is scheduled to hold a meeting. Before the draw, the applicants will be vetted, so the results won’t be coming anytime soon.
‘Prime Candidate’
Albeit the potential QGEs remain unknown, MGM has always been considered as a prime candidate. The reason is not difficult to grasp, either. The operator launched its playMGM-powered online casino and online poker sites in NJ immediately upon taking control of The Borgata Hotel Casino & Spa.
The business is not physically present in the state, but that doesn’t mean it won’t be, eventually. As a matter of fact, MGM Resorts was close to entering the market in 2017, but then its $1.3bn Sands Casino Resort Bethlehem acquisition deal went wrong.
There are other roads, however. The company has struck a partnership deal with Boyd Gaming, which is in the final stage of its Valley Forge Casino Resort PA purchase. This fact is immensely important chiefly because sports betting licenses are only available to casino license holders.
Earlier this year, MGM also signed its second sponsorship agreement - this time with NHL.
NHL representatives believe the business will expand its sports betting activities to 25, 30 states. The teams play in 18 different U.S. territories, on top of additional seven in Canada. However, the U.S. neighbor does not allow single game betting. The league is working on adding a 32nd team, in Seattle, which would account for the 19th state.
Source:
“UPDATED: MGM Has Its Eyes on Those Leftover PA Online Casino Licenses”, playpennsylvania.com, October 31st, 2018.
jade
6 years ago
Super Hero
Four million $$$, for three licenses..........................steep! Do I look worried.......................na! MGM's got this! The states are moving right along, jumping on the bandwagon and getting in on the action. Before you know it, we will be trying to remember a time when gambling was not legal in the USA!
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