BetMGM Announces Kentucky Market Access Agreement with Revolutionary Racing

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Aug 07, 2023, 09:30 ET

Sports betting leader to expand to 27th market with mobile and retail offerings

JERSEY CITY, N.J., Aug. 7, 2023 /PRNewswire/ -- BetMGM, a leading sports betting and iGaming operator, and Revolutionary Racing Kentucky (RRKY) announced today a new market access agreement allowing BetMGM to bring its online and retail sports betting platform to Kentucky once legalized sports betting launches. The companies also will open a retail BetMGM Sportsbook at Sandy's Racing & Gaming.

"Kentucky has a rich history in sports and a passionate fan base," said BetMGM CEO Adam Greenblatt. "Revolutionary Racing is an ideal partner, enabling us to deliver an entertaining and responsible gaming experience, while investing in the state through job creation and tax revenue."

BetMGM will offer online sports betting capabilities as soon as Kentucky's regulated market commences and pending licensure and regulatory approval. Additionally, plans are underway to open a 5,200 square-foot retail BetMGM Sportsbook this fall with RRKY at Sandy's Racing & Gaming, a $75M gaming and entertainment facility in Ashland. Construction of Kentucky's first quarter horse racetrack and equestrian center will follow on 182 acres adjacent to Sandy's, with the first races launching in 2025.

"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," said Revolutionary Racing CEO Prentice Salter. "We've got that with BetMGM."

As BetMGM continues to expand to new markets, responsible gambling education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM's mobile and desktop platforms, customers can receive the same GameSense experience they have grown to count on at MGM Resorts properties nationwide. This complements BetMGM's already existing responsible gambling tools which serve to provide customers with an entertaining and safe digital experience.

For more information, follow @BetMGM on Twitter.

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About BetMGM
BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com/.

About Revolutionary Racing

Revolutionary Racing is the nation's premier developer of projects centered on gaming and horse racing. With a proven record of working with regulators, partnering with horse racing groups and investing in communities, they are creating new jobs and new tax revenues while revitalizing horse racing. To date, more than $4B in economic development has been generated as a result of their investments, with additional projects now underway. For more information, visit www.revolutionaryracing.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve substantial risks and/or uncertainties, including those described in the MGM Resorts International public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. BetMGM has based forward-looking statements on management's current expectations, assumptions and projections about future events and trends. Examples of these statements include, but are not limited to, BetMGM's expectations regarding its agreement with RRKY, the opening of a retail BetMGM Sportsbook at Sandy's Racing & Gaming, and the launch of legalized sports betting in Kentucky. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Included among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements are: the significant competition within the gaming and entertainment industry; BetMGM's ability to execute on its business plan; changes in applicable laws or regulations, particularly with respect to iGaming and online sports betting; BetMGM's ability to manage growth and access the capital needed to support its growth plans; and BetMGM's ability to obtain the required licenses, permits and other approvals necessary to grow in existing and new jurisdictions. In providing forward-looking statements, BetMGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MEDIA CONTACTS:
Robert Flicker
Kirvin Doak Communications
[email protected]

Nick Lovera
BetMGM
[email protected]

Steve Patterson
Revolutionary Racing
[email protected]

SOURCE BetMGM