Commission approves BetMGM to operate MGM sportsbooks, sets conditions and delayed transition timetable

The Nevada Gaming Commission on Feb. 27 unanimously approved applications from BetMGM, MGM Resorts International and Entain PLC that allow BetMGM to operate race books and sports pools at nine MGM Resorts properties in Las Vegas, with the Gaming Control Board’s recommended conditions attached.

BetMGM counsel Scott Scherer told the commission that BetMGM is a joint venture owned 50% by MGM Resorts International and 50% by Entain PLC and that the company seeks to run a central “hub” at Mandalay Bay with the other MGM race books operating as satellites. "BetMGM is a company that is owned jointly by MGM Resorts International and by Entain PLC. Each company owns 50% of BetMGM, and they have equal representation on a BetMGM board of managers," Scherer said in his presentation.

The commission and presenters stressed that the transition will require extensive planning. Scherer and MGM counsel said the move would be timed to avoid peak sports periods; they said the most likely window is after this season’s March Madness and before the NFL season, and that the parties might need a regulatory waiver…