The gambling industry has seen significant divergence in its full-channel gaming strategy, with some operators increasing their investment while others choose to exit or scale down. MGM Resorts has actively tried high-profile investments, setting up the "Las Vegas Live" production studio in the center of the MGM Grand Hotel Casino on Las Vegas Boulevard, broadcasting table games to iGaming customers in 10 international markets through a high-tech glass box. Meanwhile, Las Vegas Sands Group announced the termination of its briefly operated Sands Digital Services Department, believing that the investment did not align with the company's core long-term goals. Casino-centric operators such as Wynn Resorts, Churchill Downs Casino, and Monarch Casino have also reduced or abandoned online growth efforts. The supplier industry is driving the development of full-channel technology, with Aristocrat Gaming acquiring Israeli company Awager to enhance live gaming capabilities.
Industry Strategy Divergence and Background
Gambling operators hold different positions on full-channel gaming strategy, creating significant divergence. Some companies are increasing their investments, while others choose to exit or scale down, reflecting different judgments on the synergy between digital and physical operations.
This divergence occurs against the backdrop of online revenue growth consistently outpacing retail revenue, increasing the pressure to create full-channel synergies.
Full-Channel Strategy Support Examples
MGM Resorts actively embraces the full-channel strategy, attempting new high-profile investments. The company has set up the "Las Vegas Live" production studio in the center of the MGM Grand Hotel Casino, a high-tech glass box.
The studio, a collaboration between MGM, gaming supplier Playtech, and Fremantle, broadcasts standard games such as roulette, blackjack, and baccarat to iGaming customers in 10 regulated international markets.
Full-Channel Strategy Exit Examples
Last week, the Las Vegas Sands Group announced the termination of its briefly operated Sands Digital Services Department. The company deemed the investment unworthy of additional resources and not in line with core long-term goals.
Operators centered around casinos, such as Wynn Resorts, Churchill Downs Casino, and Monarch Casino, have also reduced, avoided, or abandoned online growth efforts, focusing on physical operations.
Industry Organizations and Opposition Forces
The National Anti-Online Gambling Association was established in February 2025, an organization opposing digital expansion, mainly composed of small casinos and unions. The growing number of members indicates significant internal resistance within the industry.
Opposition forces believe that the legalization of online gambling could negatively impact overall market opportunities and project returns, especially for physical operations.
Operational Details of MGM Live Studio
MGM's "Las Vegas Live" production studio is located in the central hall of the casino, covering about 171,000 square feet. During live broadcasts, customers and passersby stop to watch the external performance, but cannot participate in person.
The interior of the studio resembles a Hollywood control room, equipped with broadcasting equipment, switches, and professional dealers. The project was officially launched at the end of August, marking a large-scale expansion of the "Las Vegas Live" series.
International Market Positioning and Audience Analysis
Ontario and the UK are the two largest markets for "Las Vegas Live" content. Providing streaming services to international players aims to attract them to Las Vegas, a key task following the decline in overseas traffic in 2025.
Studio staff are equipped with talking points to educate interested guests and initiate conversations, especially explaining game availability to international visitors.
Domestic Market Strategy and Activation Opportunities
For the US domestic audience, MGM uses the studio to introduce iGaming topics, although iGaming is not legalized in Nevada. The company explores activating the viewing experience through the MGM Rewards program, creating interactive opportunities.
Even if direct participation in games is not possible, the viewing experience itself becomes a way to attract customers and enhance brand engagement.
Analysis of Sands Group's Exit Decision
The Sands Digital Services Department was established in 2022, a year after the death of founder Sheldon Adelson. Adelson's disdain for the iGaming industry deeply influenced the company culture.
The company's core business remains focused on land-based resorts in Macau and Singapore, where real-money online gambling is illegal, lacking synergy with digital strategies.
Supplier Role and Technology Investments
The supplier industry is driving the technology needed for full-channel gaming growth. Aristocrat Gaming, as the largest physical gaming supplier in the US, is heavily investing in distribution capabilities to stay in sync with customers.
The company recently acquired Israeli company Awager, which specializes in the live streaming of slot games, allowing users to "experience real casino visuals, sounds, and excitement anytime, anywhere."
Strategic Cooperation and Customer Orientation
Aristocrat's Chief Product Officer, Matt Primmer, states that the company adopts a partnership rather than an imposing approach. The team focuses on creating choices for service delivery through various channels, meeting different operator needs.
Primmer notes, "We know that full-channel release is important to many customers, so our job is to ensure it's important to us when it's important to them."
Market Environment and Growth Challenges
Since mid-2023 in Rhode Island, no new iGaming markets have launched, and industry expansion has stalled. Digital gambling revenue growth remains strong, with four states reaching all-time highs in August 2025, and seven states growing at least 25% year-over-year.
In contrast, retail casino revenue in the US for the first seven months of 2025 only grew 2.5% year-over-year, showing a widening gap between digital and physical growth.
Future Outlook and Differentiation Strategy
Vik Shresta, Vice President of Online Gaming at MGM, states that the studio is version 1.0, and the next step is how to further dominate the Las Vegas market. The company differentiates by collaborating with Las Vegas, utilizing Playtech's well-known games to attract players.
The focus is on the connection with Las Vegas and the interaction with MGM's physical casino, contrasting with standard iGaming content filmed in warehouses.
