Entain plc’s and MGM Resorts’ North American co-venture BetMGM has delivered its financial performance report for FY 2023, registering a positive EBITDA for H2. Financials The business saw its net revenue from operations grow by 36% year-over-year to $1.96bn, which represents the upper end of its $1.8bn to $2bn guidance range. Same-state net revenue from digital operations grew by 14%, …
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BetMGM had a positive update for Entain and MGM Resorts International investors today, as the US-facing joint venture reported positive EBITDA for Q2 2023 The joint venture between London-based, LSE-listed Entain and Las Vegas-headquartered, NYSE enterprise MGM was first launched in 2019, but so far profitability has eluded the sportsbook brand. In its latest update, BetMGM reported H1 revenue of …
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It’s been almost five years since the US gambling industry opened up for business, and since May 2018, we have seen tremendous growth across the market with some big players taking the lead in asserting market dominance. One such player has been FanDuel, which recently emerged as the first US gambling company to reach profitability – considerably earlier than expected …
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BetMGM has exceeded its commercial targets for 2022, according to a joint-statement by venture partners Entain and MGM Resorts, as the US sportsbook achieves full year revenues of $1.44bn. The headline figure is above guidance issued 12 months ago, in which JV partners set a target of $1.3bn, as the firm’s revenue growth objectives are more than on track. However, …
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SBC Digital North America delivered on its goals of providing insightful conference content, showcasing the latest industry innovations, and creating an effective platform for making business connections, a survey of attendees has found. The online conference and exhibition for the sports betting and igaming industries achieved a Net Promoter Score (NPS) of 67, as the overwhelming majority of delegates who …
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MGM Resorts International CEO & President Bill Hornbuckle, has joined the senior executive speaker line-up for the Leaders in iGaming track at June’s SBC Digital North America conference and trade show. Set for June 10, day two of the online event, the Leaders in iGaming track will feature an in-depth examination of the future of this exciting new segment of …
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US casino giant MGM Resorts International has confirmed that it has proposed a merger with its US sports betting and igaming partner Entain plc, but has refused to say if a firm offer to acquire the company will follow. It has also been confirmed that the offer consists of 0.6 MGM shares for each Entain share, representing a value of …
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Shareholders of GVC Holdings and MGM Resorts have sanctioned a further funding round in joint-venture property ROAR Digital, increasing investment in the US market venture to $450 million. The funding is approved to accelerate ROAR’s flagship sportsbook property of BetMGM, which since its launch in 2018 is on track to operate in 11 US states by the end of year …
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MGM-GVC Interactive LLC, the new US strategic joint venture developed by MGM Resorts and GVC Holdings, has confirmed that it will utilise Sportradar as exclusive data supplier for its US sports betting provisions. The agreement sees Sportradar become the lead data provider for MGM-GVC interactive’s new and existing land-based and digital properties. Updating the market, MGM GVC Interactive’s new Chief …
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Issuing a combined corporate communication, US market strategic partners GVC Holdings and MGM Resorts have confirmed the appointment of Adam Greenblatt as US joint-venture Chief Executive of ‘MGM GVC Interactive LLC’ Noted as a key stakeholder in the creation of the MGM-GVC Interactive strategic property, Greenblatt has been promoted to the executive leadership position having formerly served as Director of Corporate Development …
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