BetMGM Moves Closer to Taking Over MGM’s Las Vegas Sportsbooks

BetMGM is set to take over operations of MGM Resorts International’s nine sportsbooks on the Las Vegas Strip this summer, following a recommendation to the Nevada Gaming Commission. The transition, which has been in process since December, is expected to be completed after the NCAA basketball tournament and Major League Baseball season opener, with the aim of ensuring a seamless shift before the NFL season begins.

Licensing and Transition Details

Entain, introduced its mobile sports betting app in Las Vegas earlier in 2024, but MGM Resorts retained control of sportsbook operations. The licensing structure, previously deemed adequate, came under scrutiny, prompting BetMGM to seek additional authorization as a “key employee” to oversee sportsbook management.

Pending final approval later this month, BetMGM will assume full operational control, with Mandalay Bay serving as the central hub while the other sportsbooks operate as satellite locations. BetMGM’s legal counsel, Scott Scherer, emphasized that the transition timeline could extend beyond the summer if additional preparation is needed.

Entain’s Legal and Leadership Updates

The hearing also addressed Entain’s recent corporate developments, including CEO Gavin Isaacs’ abrupt resignation. Stella David, who previously served as interim CEO, has stepped in once again while the company searches for a permanent leader.

Entain also updated regulators on ongoing legal issues in Australia, where AUSTRAC has filed a federal lawsuit over alleged anti-money laundering (AML) violations. Entain General Counsel Simon Zinger assured the Board that the company has been cooperating fully with regulators, implementing new risk-based controls, transaction monitoring, and due diligence measures to address compliance concerns.

Ensuring Compliance in Nevada

During the hearing, Nevada regulators raised concerns about AML protocols for high-value bets at BetMGM’s sportsbooks. Board Member George Assad questioned the source of funds verification process for wagers ranging from $100,000 to $200,000.

BetMGM representatives emphasized that their AML program includes a dedicated compliance team of 40 staff across both mobile and retail sportsbooks. They assured regulators that all large bets undergo identity verification to ensure compliance with state and federal laws.

Enhancing Nevada’s Sports Betting Experience

With the transition to BetMGM management, sports bettors in Nevada can expect expanded betting options, including more prop and parlay wagers, enhanced live streaming features, and improved digital deposit and withdrawal capabilities. The company aims to integrate mobile and retail sports betting more seamlessly under its operational umbrella.

Pending final regulatory approval, MGM’s Las Vegas sportsbooks will officially transition to BetMGM’s control later this year, further solidifying the company’s presence in the U.S. sports betting market.

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Source:

Entain Issues Surface at Hearing for BetMGM to Take Over MGM’s Nevada Sportsbooks, cdcgaming.com, February 2025.