Sports betting company BetMGM seeks another year's extension for the acquisition of nine sportsbooks in Las Vegas.
BetMGM Seeks Extension for Sportsbook Takeover in Las Vegas
BetMGM has formally requested a one-year extension to complete the transition of operating nine retail sportsbooks from MGM Resorts International (MRI) in Las Vegas. The extension is set to be considered by the Nevada Gaming Commission at its meeting scheduled for August 21, 2025.
The extension is necessary due to the complexities involved in the transfer process, which has taken longer than initially anticipated. BetMGM, a joint venture between MGM and European-based Entain, was initially granted six months to finalize the takeover before the start of the football season but now requires additional time to ensure the transition occurs during a slower sports betting period.
The primary concerns driving the extension request include the need for BetMGM to obtain additional licensing as a “key employee” classification for more direct operational control over the sportsbooks. This classification will allow BetMGM to have direct control beyond its existing manufacturer, sports information distributor, and IT provider licenses, approved in February 2025.
Another issue is the uncertainty surrounding whether the current licensing structure fully satisfies operational and regulatory requirements. This uncertainty has prompted further assessment by BetMGM and its legal team representing it before the Nevada Gaming Control Board.
The ongoing involvement of MGM Resorts International in sportsbook operations has also raised regulatory scrutiny, necessitating a more formal and direct control by BetMGM under regulatory mandates.
Scott Scherer, BetMGM's private counsel, has mentioned the possibility of deciding that being a key employee is sufficient for compliance with regulations and minimizing disruption.
It is worth noting that BetMGM has been acting as a key employee for several months. The most likely transition time for BetMGM to take over sportsbooks operations is after the 2026 NBA season next summer.
The Nevada Gaming Commission will also consider the potential loss of quality employees during the transition. Doing nine property transitions in one day would be difficult and take a lot of planning. The biggest issue for BetMGM is internal controls and ensuring both companies are on the same page. One of the issues to be resolved is how trading will work if BetMGM is the operator.
Some longstanding MGM employees prefer to stay as MGM employees and not transition over to BetMGM. The super trader of MRI may not be needed if BetMGM is the operator. Gaming Control Board Chair Mike Dreitzer appreciates the caution taken by BetMGM, but questions whether one year is enough to learn everything necessary for a final decision to take over the sportsbooks.
[1] Las Vegas Review-Journal, "BetMGM seeks extension for sportsbook takeover in Las Vegas", August 1, 2025, link
[3] Nevada Independent, "BetMGM requests extension to take over sportsbooks at nine MGM casinos", August 1, 2025, link
In light of the ongoing transfer process, BetMGM plans to ensure the transition of sportsbooks operations occurs during a less busy sports betting period, which may extend beyond the initial six months granted. Being a key employee classification would provide BetMGM with direct control over the sportsbooks, allowing for smoother operations and compliance with regulations. Under this extension, BetMGM aims to finalize the takeover, address internal control issues, and navigate potential employee transitions in Las Vegas, while maintaining their casino-and-gambling operations and offering casino-games to patrons.
