Interactive
SPORTS BETTING USA BETMGM - MGM RESORTS & GVC
Over taxation means there is less available to invest in players and price whilst the proposition becomes less competitive with the offshore market. Our ability to invest in marketing and the product is also affected by the reduced margin available to operators. Operators need to have a viable business that is cash flow positive and profitable in the long term.
leisure entertainment experience, make sure that we uphold to the highest standard responsible gambling objectives and, frankly, to bring the offshore market back onshore. Tis means that the product needs to be competitive in all aspects versus the offshore market. Te higher the tax rate, the less margin there is for operators to reinvest in the market over time. Tat's just a practical reality.
Over taxation means there is less available to invest in players and price whilst the proposition becomes less competitive with the offshore market. Our ability to invest in marketing and the product is also affected by the reduced margin available to operators. Operators need to have a viable business that is cash flow positive and profitable in the long term.
The BetMGM app is currently available in New Jersey, West Virginia, Nevada, Indiana, Michigan, Mississippi, and Colorado. How complex are the front and back-end technological challenges to conform with varying compliance requirements between states? With plans to enter four more states over the coming months, how do you tailor and localise the app to those locations?
It's a very astute question and observation. It’s complex and the more states that go live, the higher the complexity. We have to operate what is effectively a business that spans all of Europe with a common team and tech stack. I will offer an example of that complexity with the case of feature releases. Each state has its own process for evaluating and approving a particular feature and each state has its own governing body. Some use independent test labs, some test it themselves and some do both.
Each of those processes have different timeframes. What that means is that unless we are capable of effectively holding and releasing the feature to a different state at different times, we are only able to release features when effectively the last state approves the feature. It’s like the migrating buffalo – the herd can only move as fast as the slowest buffalo.
P88 NEWSWIRE / INTERACTIVE / MARKET DATA
Te same would be true of rolling out features in states were it not for the fact that we have an incredible team of technologists that have already solved this problem. We have established a cloud based staging environment allowing us to launch product in a state where it is approved even though other states are perhaps lagging. We think that over time this is going to be an incredible strategic advantage enabling us to get player features and product to players faster all over the US, but it is complex.
How much of an advantage is owning your own technology? How different would the challenge be if the technology wasn't your own and you were reliant on a third party?
It would be hideously complex and very difficult. Te orchestration and choreography of managing these processes with multiple parties
is hard enough when it's your own and they are the best in the business. I can only imagine how challenging it must be for those who don't enjoy that luxury.
BetMGM also operate a number of poker and casino sites. How has poker's standing and role within online casino changed during your time in the industry and what are your expectations for its future?
I'm going to show my age here - I bought shares when party poker first listed because I was a huge believer in the prospect of the business and the longevity of poker. Poker has since matured and evolved. Te Unlawful Internet Gambling Enforcement Act of 2006 had a big impact on the global poker market. Tere is a future for poker that relies on multi state shared liquidity. We will see poker be its strongest self when we have
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