Sportsbook giant BetMGM seeks extensions for another year to acquire control over nine sportsbooks in Las Vegas.
BetMGM, a joint venture between MGM Resorts International (MRI) and European-based Entain, has requested a one-year extension from the Nevada Gaming Commission to finalize the transition of operating nine retail sportsbooks from MGM Resorts in Las Vegas. The extension is aimed at better timing the transfer during a slower sports betting period and minimizing disruption for customers.
The initial plan was for BetMGM to complete the transition within six months, with the goal of finalizing before the start of the football season in 2025. However, the delay stems from BetMGM still assessing whether the current licensing arrangements meet all operational and regulatory requirements.
In February, BetMGM was licensed by the Nevada Gaming Commission as a manufacturer, sports-information distributor, and IT provider. To gain more direct control over the sportsbooks, BetMGM sought a "key employee" classification additional licensing. The company has been acting as a key employee for several months.
Scott Scherer, BetMGM's private counsel, requested the extension due to the need to learn about the key-employee relationship and potential issues during the transition. One of the main issues for the transition is internal controls and ensuring both companies are on the same page.
The working relationship between MRI and BetMGM staff is currently good, which may be a factor against making the transition. However, some longstanding MGM employees have expressed a desire to remain as MGM employees and not transition over to BetMGM.
The Nevada Gaming Commission is scheduled to consider the extension request on August 21, 2025. Gaming Control Board Chair Mike Dreitzer supports the waiver requested by BetMGM, but questions whether one year is enough to learn everything necessary.
One of the issues to be resolved is how the trading will work, with MRI's super trader potentially becoming unnecessary if BetMGM is the operator. The transition might not extend more than two days to minimize disruption to customers.
If the extension is granted, the most likely transition time is after the 2026 NBA season next summer. Joshua Wyseman, director of licensing for BetMGM, is currently learning about the division responsibilities between BetMGM and MRI staff.
BetMGM may decide at the end of the process that being a key employee is all they need to do and that they can be in full compliance with regulations, avoiding the need for the extension. The decision from the Nevada Gaming Commission expected by August 21, 2025, will clarify the final timeline for the transition of MGM Resorts' sportsbooks in Las Vegas to BetMGM.
Despite the initial plan for a six-month transition, BetMGM has requested a one-year extension from the Nevada Gaming Commission to manage casinos and gambling operations, specifically focusing on casino games and sports betting, in nine retail sportsbooks from MGM Resorts in Las Vegas. This extension will allow for thorough assessment and alignment of operational and regulatory requirements, ensuring a smooth transition and minimal disruption to customers, particularly during peak sports betting periods like the football season.
