BetMGM Looks to Kentucky for US Expansion
BetMGM, the widely respected sportsbook and iGaming operator, has unveiled a new market access deal that will help further its presence throughout the United States.
Earlier this week, the company announced a partnership with Revolutionary Racing Kentucky (RRKY). The agreement stipulates that once Kentucky launches legal sports betting, BetMGM will immediately be able to launch its services.
The company plans to open a retail sportsbook alongside its online offering working together with RRKY in Kentucky. The sportsbook will be housed at Sandy’s Racing & Gaming. It is set to occupy 5,200 square feet and will open in the fall. However, BetMGM still needs to receive approval from the gambling regulators and be awarded the relevant licenses.
Sandy’s Racing & Gaming, located in Ashland, is set to receive a huge boost from the new $75 million gaming and entertainment facility. In addition to the new sportsbook, work on the state’s first quarter horse racetrack and equestrian center is expected to begin. It will be located alongside Sandy’s and will occupy roughly 182 acres of land. Racing at this new facility is expected to begin in 2025.
Kentucky Announcement Follows New Jersey Deal
This announcement from BetMGM comes after a major deal was signed in New Jersey. Just a week ago, they announced a partnership with Borgata Hotel Casino and Spa that will allow players in the state to enjoy Evolution’s, Dual Play Roulette.
Revolutionary Racing’s CEO, Prentice Salter, said that the company is dedicated to providing top-quality facilities to Ashland and as such, BetMGM is the perfect choice.
We promised to bring a world-class facility to Ashland and wanted a world-class partner for online sports wagering across the Commonwealth and at our sportsbook lounge. We’ve got that with BetMGM.
BetMGM Enjoys Strong H1 Results
BetMGM recently released its H1 2023 results and they were particularly impressive with net revenue reaching $944 million. The company also published an outlook for its full-year performance and confirmed that it is set to attract revenue of between $1.8 and $2 billion by the end of the year.