as Bette MGM The company is trying to regain momentum in the gaming market, relying in part on the growth of NFL betting and the attraction of new technology.
The company is the third-largest sportsbook in the United States by market share, but has lost ground in recent years in both sports betting and iGaming (or online casino betting), where it once held the No. position of one.
CEO Adam Greenblatt told CNBC on Tuesday at the Global Gaming Expo in Las Vegas that he is relying on newly launched technology to attract customers.
He cited the company’s integration this year of Angstrom, which uses modeling and predictive artificial intelligence for data analysis, risk and pricing. During the spring baseball season, BetMGM credited new technology with increasing MLB home run bets by 209% compared to the same period a year ago.
BetMGM launched a single digital wallet for gambling in Nevada in August. This means customers can take home their winnings within the same app, reducing friction. Greenblatt said results have improved this season.
“What we’re seeing now is a 125% year-over-year increase in first-time depositors in Vegas so far this NFL season. What’s especially exciting is that of the players who signed with BetMGM for the first time, more than 50% of Nevada players returned Playing after his hometown,” Greenblatt told CNBC.
Although BetMGM fell from first to third place in the lucrative betting segment, which offers higher profit margins and a potentially larger addressable market, the company’s CEO is optimistic he has a win The secret.
“Our guys are coming back every week to some extent, more engaged than before,” he said.
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