MGM Resorts International President Bill Hornbuckle says the company has increased its omnichannel advantage thanks its BetMGM single wallet feature in Nevada and the ongoing build of its MGM Digital business.
Last August, BetMGM launched its “single account, single wallet” feature which allows Nevada gamblers to use their retail funds across BetMGM mobile markets throughout the U.S.
“MGM’s omnichannel advantage is now a much more meaningful opportunity,” Hornbuckle told investors and analysts on a Q4 earnings call on Wednesday.
During football season, BetMGM’s boosted Las Vegas presence drove a 60% year-over-year increase in Nevada-acquired first-time depositors. The benefits were seen nationwide, as the continued play of active BetMGM users in their home state doubled after they signed up in Nevada.
Hornbuckle called that “a signal that single app, single wallet is driving customer stickiness.” Execs added that BetMGM’s omnichannel players are three times more valuable than digital-only players.
MGM Digital poised to fuel further digital growth
Hornbuckle and MGM Resorts Interactive President Gary Fritz also gave an update on the MGM Digital business.
That does not include the BetMGM joint venture with Entain but offers an online casino and sports betting network including LeoVegas, Push Gaming, Tipico and other brands. MGM aims to complete the integration of Tipico’s U.S. wagering platform by mid-2025.
“The past couple of years, we’ve been assembling a distribution network and a product platform that we believe gives us a great opportunity to compete digitally,” Fritz said. He added that while BetMGM and MGM Digital are “two very distinctly operated businesses,” the latter’s content creation and development capabilities have the potential to help BetMGM down the line.
Hornbuckle doesn’t expect Maryland tax increase
Hornbuckle was asked whether he is concerned about states such as Ohio and Maryland considering raising gaming taxes.
After Maryland Gov. Wes Moore’s FY2026 budget proposed doubling the sports betting rate from 15% to 30% and increasing table games tax from 20% to 25%, Hornbuckle suggested he believes the company has successfully “backed that down.”
“I think for now in Maryland, we’ve cured that moving forward,” he said. “I feel very comfortable about that because when we sat with the governor’s office and went through the gives and takes and what that meant in terms of employment and jobs and some other commitments we gave to the community, it was a pretty quick and good understanding.”
However, Hornbuckle expects to continue having to fight similar battles with state lawmakers.
“I think it’s going to be an ongoing game, if you will. There are markets that get it, that want to see true growth and keep it onshore versus offshore, out of black holes. And there’s a couple of states I think we’ll continue to battle … I think we the industry have done a good job so far communicating what’s at stake and why.
“Never say never, but out of all the things that keep me up at night, it’s not one of them.”
