After announcing its online ambitions a few months ago, playMGM is now in its five-day soft launch phase, during which time the site will increase its hours of operation as it prepares for a full launch.
New Jersey Division of Gaming Enforcement Director David Rebuck revelaed the launch during a panel discussion Tuesday morning.
Here’s what you need to know about playMGM
playMGM is using the same online casino and online poker software as Borgata and partypoker, and its online poker site will operate on the same network as its two sister sites, giving playMGM instant poker liquidity.
New players visiting the playMGM sites will receive a very enticing offer, as playMGM is giving away a free $25 and a 100 percent match of their first deposit up to $2,000. That offer is available to new casino and new poker players.
playMGM is also running reload bonuses, a variety of freerolls and free spins, and other assorted promotions.
What impact will playMGM have?
Despite being a latecomer to an already crowded market, MGM should be able to slice out a piece of the New Jersey market and grab some market share. However, it’s doubtful it will grow the New Jersey online gaming market as a whole, as it will be working from the same player lists already exhausted by Borgata.
Still, thanks to its strong brand, and a slew of enticing promotions, playMGM should be able to pull some players away from other New Jersey online gaming sites. The question is, will it pull them away from competitors, or will it cannibalize the existing Borgata and partypoker sites?
If it can pull players from competitors, Borgata might be able to further separate itself from the likes of Caesars, Tropicana, and Resorts, and could make a run at reclaiming the number-one spot in the market from Golden Nugget. That will be a tall order considering Golden Nugget has pulled away from the pack, but the New Jersey market is far from stable, and it caught everyone by surprise when Golden Nugget pulled past Borgata.
Is New Jersey nearing supersaturation?
playMGM isn’t the only recent addition to the increasingly crowded New Jersey online gaming market, and its Borgata’s online gaming license that’s picking up all of the hitchhikers.
If you’re keeping score at home, that’s two new online casinos and two new online poker rooms added to Borgata’s online gaming license over the past two months.
That brings the number of brands operating under Borgata’s license to five (Scores isn’t counted as a full brand, but rather an affiliate brand):
There are now seven online poker sites, on four separate networks, to choose from in New Jersey:
The number of online casino brands is up to 16: