To say that 2020 has been a chaotic year for the gambling industry would be a fierce understatement. This year has bought a number of twists and turns for many industry giants, and today, we’re going to be taking an in-depth look at BetMGM in 2020.
BetMGM is one of the biggest companies in the gambling industry, and the last few years have positioned them as being thought leaders. 2020 has bought challenges for the company, and they’ve provided a great case study for how the pandemic has affected businesses.
In this article, we’ll be examining BetMGM in 2020 as a whole. We’ll be looking at the challenges that the company experienced, the successes that they had, and speculating where the end of the year might take them. This company is an industry leader, after all, so they’re incredibly important to keep up with.
What Are The Best Things That Happened For BetMGM In 2020?
To start on a positive note, let’s take a look at some of the brilliant things that have happened for BetMGM in 2020. One of the most notable things to point out here is that this company has made some brilliant partnerships. A great example here is BetMGM joining forces with the PGA Tour as their official betting partner.
Something else that’s been great to observe for BetMGM in 2020 is that they have been making all the right moves to capitalize on the latest booms in betting. Mobile gambling and online gaming are all the rage in the industry right now, and BetMGM has been investing a serious amount of time and money into their services.
It’s also worth pointing out that BetMGM has been hosting some exceptional events this year. The BetMGM Casino Super Series is going on at the time of writing, and judging from the responses on social media and in industry blogs, it’s been going incredibly well. This company knows how to interact with their audience.
A final thing to highlight about the positive sides of BetMGM in 2020 is that they have helped with some very iconic rebranding and development opportunities. Namely, the Moneyline bar in Borgata Casino was recently renamed to the BetMGM Sportsbook & Bar.
It’s safe to say that BetMGM has had a number of successes and causes to celebrate this year. Despite the turbulent vibe of 2020, some companies have managed to keep their heads above water- and BetMGM is undoubtedly one of them.
What Challenges Did BetMGM Face This Year?
While there have certainly been a lot of positive aspects to BetMGM in 2020, it wouldn’t be a fair article if we didn’t cover the negative aspects, too. As reported here by Forbes, BetMGM had an incredibly strained second quarter to the year and reported some immense losses in revenue overall.
As a result, BetMGM’s stock has been somewhat of a nightmare to keep up with for many investors, especially due to the debt that the company gathered during the sale-leaseback procedure associated with MGM Grand and Mandalay Bay. In terms of finance, it has been a fairly rough year for the BetMGM team.
Of course, it has been financially straining for many companies in this sector this year- and for many outside of this sector, too. The combination of lockdown measures and business shutdowns put plenty of people into unfamiliar, strained circumstances, and the effects are still being felt around the world right now.
Where Might BetMGM Go In 2021?
To finish on a more positive note, it’s intriguing to consider where a company like BetMGM might end up next year. As we’ve noted in our article, there have been plenty of reasons to celebrate for BetMGM in 2020- but a lot of causes for concern, especially in the region of finance and revenue security, too.
It’s likely that BetMGM will make a slow but steady recovery in the realms of finance, despite the heavy debt that their first-quarter got them into. The gambling industry is slowly but surely starting to get back on its feet this year, and many companies are making moves to bounce back in the new year. It’s likely BetMGM will follow suit, too.
We’re also sure to see even more developments in regards to BetMGM’s mobile and online offerings, too. As we’ve noted, these sectors are particularly vibrant right now, and BetMGM is sure to be paying attention to this. Could we see new styles of gaming? Developments to their existing content? Only time will tell.
Whatever happens with BetMGM next year, it’s sure to be fascinating to follow. This company has built up a fiercely loyal fan following- and with good reason. BetMGM is an industry leader, with plenty of innovation and creativity to spare.
As you can see, it’s been a difficult year for many businesses- and the circumstances have even affected industry giants like BetMGM. It’s been somewhat fascinating to observe the effects of the pandemic on global companies and industry giants.
On the flip side, it has been inspiring to see how many sports betting companies and teams have made the most of things in 2020. There have still been plenty of intriguing stories and developments to follow along with, and heaps of unique sports betting partnerships to get excited about as well.
It will be interesting to see how 2021 plays out for the sports betting industry as a whole. We’re sure that the scene will look entirely different by the end of next year- but it’s hard to say what will change in particular. Will there be new technological developments? Will companies like BetMGM continue to storm ahead? Only time will tell.