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NetEnt enters newly regulated market in West Virginia with BetMGM deal

It has been rather quiet with regular news around NetEnt, but it seems some developments do take place when it comes to the US market. Since the widespread online gambling ban in the US in 2006, operators moved back from the country to locate in Europe instead.

Over the past years, almost half of the US states regulated some form of online gambling including New Jersey, Nevada, Delaware, Pennsylvania, and West Virginia. The latter recently granted NetEnt with a temporary casino licence. This while NetEnt signed a partnership with BetMGM to enter the West Virginian iGaming market.

What was again the deal with online gambling in the US?

What was once the most flourishing iGaming market worldwide, shut down completely in 2006. It was in this year that the American gambling dream came to an end. It was the year that the USA introduced the Every Port Act of 2006. This bill included the famous Unlawful Internet Gambling Enforcement Act (UIGEA). The UIGEA forbid online casinos to accept payments from players within the US.

After many unsuccessful attempts to introduce an all-encompassing federal online gambling law, the US allowed intrastate regulations.

Delaware was the first country to legalize online gambling in 2012. However, almost half the US legalized some form of online gambling in 2020. The list so far: Nevada, Delaware, New Jersey, West Virginia, New Mexico, Rhode Island, Arkansas, New York, Iowa, Oregon, Indiana, New Hampshire, Illinois, Mississippi, Michigan, Montana, Colorado, Washington DC, Tennessee, North Carolina, Pennsylvania, Washington and Oklahoma.

NetEnt monitored the US iGaming market closely for years. It decided to take the first step to enter the market again halfway 2014. NetEnt believed the prerequisites and timing were right to intensify its efforts to enter the United States.

Not long after, NetEnt received its first transactional waiver from the New Jersey Division of Gaming Enforcement. It meant green light to enter the New Jersey market and with that the US market. It was the first of many milestones for the company regarding the US iGaming market.

NetEnt’s expansion in the US iGaming market continues

The list of US states legalizing some form of online gambling continues to grow. Potential states to legalise online gambling in 2020 is almost as long as the above list. We see Alabama, Alaska, Arizona, California, Connecticut, Florida, Georgia, Hawaii, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Carolina, South Dakota, Texas, Vermont, and Wyoming could be next if the situation allows it.

It’s pretty clear that casino operators and players can expect a massive change in the online gambling market. By 2021, online gambling could be legal in almost every state.

And so NetEnt continues its expansion in the US while it’s already active in New Jersey and Pennsylvania. West Virginia is next as NetEnt is set to launch its award-winning games in West Virginia with iGaming operator BetMGM. This milestone marks NetEnt’s first entry into the mountain state. West Virginia opened its doors to online casinos and online betting companies on July 15.

“BetMGM’s rapid success in the US has been impressive and shows no signs of slowing down. That’s what makes this a significant deal for our company as we continue to expand across the country. Thanks to the strong performance of our games locally, the U.S. is now a major revenue driver for NetEnt and we look forward to working with BetMGM to accelerate growth of both our businesses,” says Brian Kraft, NetEnt Vice President Commercial, Americas. 

NetEnt’s partnership with the fast-growing iGaming group BetMGM

The partnership with iGaming group BetMGM is set to further increase NetEnt’s reach in key US markets. Backed by one of the world’s largest sports betting and gaming groups GVC Group and the esteemed casino resorts company MGM Resorts, BetMGM is soon to launch NetEnt content in West Virginia.

NetEnt recently received a temporary licence from the regulating authorities in West Virginia.

The agreement follows a strong period of growth for NetEnt in the US, after recently reporting triple-digit increases in quarterly gross gaming revenue in both Pennsylvania and New Jersey.

Matthew Sunderland, VP Gaming at BetMGM, said: “We have already seen great success with NetEnt content in New Jersey. Their team really understand what appeals to gaming customers and I am positive this will serve as a major advantage as we strengthen our existing casino offering in West Virginia.”

By on 26 September, 2020