MGM Place to turns International has been waiting and planning for the day the U.S. Supreme Court allowed sports venture, CEO Jim Murren told CNBC on Monday.
The nation’s highest court prevailed Monday that states can legalize sports betting, breaking up Nevada’s monopoly on the style.
“We have already established the architecture to deploy sports betting as at bottom as the states allow us to do that,” he said on “Power Lunch.”
“We have already the software. We comprise our mobile app called PlayMGM that is already activated in Nevada.”
In its preside over, the Supreme Court upheld the legality of a 2014 New Jersey law permitting recreations betting at casinos and racetracks in the state and voided the federal Professional and Tiro Sports Protection Act.
MGM certainly isn’t the only company that prepared for the forbidding. DraftKings CEO Jason Robins told “Power Lunch” on Monday that it also has been output in production on sports betting products.
“This is going to be a huge industry, and there at ones desire be a lot of competition which is great for consumers,” Robins said.
Murren watches MGM to be “a very significant player, if not the largest player in this market” as a result ofs to its “decades of relationships” with the sports leagues.
In addition to Nevada, MGM has casinos in Maryland, Michigan, Mississippi and New Jersey. It also has a “weighty” online presence, he said.
Once states legalize sports risk, it would mean a notable increase in casino attendance as well as online guests, Murren noted.
The end result would be “hundreds of millions of dollars in profit to the guests.”
In fact, when asked if he can imagine a day when there will be an MGM punt window at Madison Square Garden in New York, Murren replied, “yes, I can.”
“It’s all hither fan engagement, getting people to watch these games point to quality and to follow teams more passionately then they currently do. That disposition benefit the teams, the leagues and the consumer,” he said.
“In many cases, MGM tons not have a casino in that state but certainly we’ll have a major calm. That’s the big opportunity that we see,” he added.
MGM’s stock jumped Monday on the communication, closing 1.6 percent higher.
— CNBC’s Michael Sheetz have a hand ined to this report.