TAPPP and BetMGM Announce Expansion of BetMGM Gift Cards
BetMGM gift cards are now available in 12 states and over 12,000 stores in the US
NEW YORK, May 17, 2022 /PRNewswire/ – TAPPPa New Yorkbased on technology and marketing, focused on customer acquisition and flexible payment platforms for consumers, and BetMGM, a leading sports betting and iGaming operator, today announced an aggressive expansion of the BetMGM’s gift card distribution network. The number of stores offering BetMGM prepaid cards will approximately double from around 6,000 to over 12,000 in the current quarter.
BetMGM’s partnership with TAPPP launched in September 2021, attracting a large group of new customers and providing existing customers with a fast and flexible option to fund their BetMGM accounts in states where sports betting is legal. Since its inception, the BetMGM gift card business has seen an industry-leading 99% redemption rate, with nearly 75% of customers redeeming their purchases in just 2 hours.
“The launch of our prepaid sports betting card business has exceeded all expectations, and we look forward to even greater success as legal sports betting continues to enter new markets across the country,” said Matt Prevost“, Chief Revenue Officer of BetMGM. “The expansion of the program this quarter is the latest phase in our successful and ongoing partnership with TAPPP to provide customers with a simple and responsible way to fund their BetMGM accounts.”
BetMGM gift cards are now available in 12 states, including recent debuts in New York and Pennsylvania and upcoming launches Wyoming and Mississippi. This quarter’s expansion will push the distribution network further into the grocery segment, a largely underutilized retail space in prepaid sports betting cards, and into big box/home improvement retailers .
TAPPP’s API-driven platform provides real-time redemption data that helps drive BetMGM’s marketing and acquisition campaigns. In addition, TAPPP provides BetMGM with strategic support, payment service and sales analytics which all help drive sales and build customer loyalty.
For more details on where you can purchase a BetMGM Gift Card, visit betmgm.com/giftcard.
TAPPP is a technology and marketing company that helps media, consumer products and sports betting clients drive customer acquisitions, transactions, engagement and retention through products and services offered at the screen, at events and in-store with a commercial focus built on our Interactive Gaming, Betting and Trading Platform, delivering exclusive, real-time, content-specific viewing experiences on any device of use final and our distribution and payment services platform, enabling cash and digital transactions for gaming, betting and consumer products merchants. For more information about TAPPP, visit tappp.com.
BetMGM is a leading company in the sports betting and gaming entertainment market, a pioneer in the online gaming industry. Born of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all MGM Resorts land-based and online sports betting in the United States, major poker tournaments and online gaming companies. . Using state-of-the-art US-licensed Entain technology, BetMGM offers online sports betting and gaming through market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com/.
Statements contained in this release that are not historical facts are “forward-looking statements” and “safe harbor statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including including those described in MGM Resorts’ public report. filings with the SEC. Forward-looking statements are based on management’s current expectations and assumptions and not on historical facts. Examples of such statements include, but are not limited to, statements regarding the future results of BetMGM. Important factors that could cause actual results to differ materially from those set forth in these forward-looking statements include the effects of economic and market conditions in the markets in which MGM Resorts operates and competition with other destinations. of travel through United States and the world, the design, timing and costs of expansion projects, risks associated with international operations, permits, licenses, financing, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts Reports Form 10-K, Form 10-Q and Form 8-K (including any amendments to such reports). By providing forward-looking statements, MGM Resorts assumes no duty or obligation to update such statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to such other forward-looking statements.