Gaming Realms Launches Slingo in Michigan with BetMGM
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UK-based supplier Gaming Realms has partnered with BetMGM MI to launch its suite of online games, Slingo Originals, on its Michigan online casino. The suite includes a mix of slot, bingo and table games.
The partnership comes after Gaming Realms was awarded a provisional iGaming supplier license by the Michigan Gaming Control Board (MGCB) in early January.
Under the agreement, BetMGM will initially launch three Slingo games, with more games to follow in the short-term. Gaming Realms said the company “has also signed agreements for Michigan with a number of other leading operators in the market,” adding that it plans to go live with its full portfolio of Slingo Originals “over the coming weeks.”
The company did not disclose what three games from Slingo Originals would be launched first. The suite includes 34 games in total, according to its website. Gaming Realms said it has 44 games in its portfolio in its fiscal year (FY) 2020 presentation.
BetMGM—itself a partnership between MGM Resorts and Entain—is the top online casino operator in Michigan, with a 38% market share and $36.1 million in revenue in May, according to the MGCB. The revenue figure includes poker because the regulator does not break poker revenue out separately. FanDuel and DraftKings are the second- and third-largest operators in terms of market share and revenue, MGCB data show.
“BetMGM is a leading operator which has been successfully distributing our Slingo portfolio to the New Jersey iGaming market for some time,” said Michael Buckley, executive chairman of Gaming Realms. “With further agreements signed with some of the largest operators in the US, our full suite of Slingo games will be released to the Michigan iGaming market soon, and we look forward to providing further updates in due course.”
Buckley added that the company would “continue to increase our presence in the US.”
AlchemyBet Ltd., a subsidiary of Gaming Realms, was awarded a casino service industry enterprise license in October 2019, according to the New Jersey Division of Gaming Enforcement (NJDGE). Gaming Realms also holds an interactive gaming manufacturer license, which was issued by the Pennsylvania Gaming Control Board (PGCB) in May.
In its FY2020 presentation, Gaming Realms projected the North American online casino market will grow at a compound annual growth rate (CAGR) of 17.3% between 2020 and 2025, with the entire market valued at more than $6 billion by 2025. By comparison, the market grew at a CAGR of 7.5% between 2015 and 2019.
Further expansion into Pennsylvania online casinos seems imminent as the company also disclosed at the time that it would “launch in Pennsylvania and Michigan once our license applications are processed.”
Gaming Realms trades on the London Stock Exchange AIM market. The company started trading its ordinary shares on the OTCQX market in the US in late April, upgrading from the Pink market.
Gaming Realms’ game licensing clients in the US include Betfair, bwin, Caesars Interactive, Golden Nugget, Hard Rock, Ocean Resorts, Resorts Inc. and Rush Street.
