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Market Monitor The present
Resorts International , the fruits of the success of BetMGM in harnessing online with offline are already being harvested .
Speaking on his own company ’ s second quarter earnings call with analysts , chief executive Bill Hornbuckle said MGM continued to see the “ benefits of customer acquisition and cross-pollenisation ” between MGM and BetMGM .
He noted that in the second three months of the year , 15 % of BetMGM ’ s new players came from MGM while from the other direction , 31 % of MGM M-life signups came from BetMGM .
“ We ’ ll strategically invest in our digital capabilities and customer growth strategies , driving innovation and a deeper customer loyalty throughout technology-led customer-centric experiences , products and services ,” Hornbuckle promised .
Indeed , Hornbuckle noted the challenge from Caesars , particularly in relation to what both companies were doing in incentivising existing databases . “ They ’ ll be a real competitor ,” he warned .
“ And if you think about what they do and what we do , it ’ s the most likely competitor to us in the context of same-store loyalty , presentation , ability to omnichannel and monetise across a broader platform , brick-and-mortar , as well as digital . We are heavily into our loyalty push .”
He added the company had appointed executives across both MGM and BetMGM in order to ensure the effort would succeed .
“ You heard me express earlier the amount of interchange between BetMGM and M-life and vice versa ,” he said . “ And we also have a strong push in moving regional play through BetMGM and through just the regional properties back here to Las Vegas .”
PENN TO PAPER
Talking of regional gaming , the prime operator in this area , Penn National Gaming , has also previously spoken about how the cross-currents between sports betting , online gaming and landbased properties are already enhancing its business .
On the first-quarter earnings call back in May , chief executive Jay Snowden spoke about the company ’ s experience in the Michigan market which , he said , had “ shown that a customer ’ s value increases significantly when they play on multiple channels , which highlights the benefits of our 100 % owned and controlled omnichannel strategy .”
“ With the introduction of online gaming , we ’ ve been able to generate twice as much combined revenue as we have traditionally generated at Greektown [ in Detroit ] by engaging with consumers on our digital products in addition to the physical property ,” he told analysts .
“ In the second three months of the year , 15 % of BetMGM ’ s new players came from MGM while from the other direction , 31 % of MGM M-life sign-ups came from BetMGM ” iGB Market Monitor