Tag Archives: BetMGM

City View: Entain needs DNA change to meet 2024 recovery 

SBC News City View: Entain needs DNA change to meet 2024 recovery 

Last Thursday, Entain Plc published its full-year accounts revealing the scars of a problematic 2023. The long-awaited results of the FTSE100 gambling group left no place for hiding as leadership declared corporate losses of £900m. Though leadership maintains that dire 2023 results were down to legacy failings, under the bonnet, the year-end accounts detailed growing concerns across all markets including …

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Entain concludes messy 2023 on £879m loss as UK/Euro headwinds continue 

SBC News Entain concludes messy 2023 on £879m loss as UK/Euro headwinds continue 

Entain Plc has closed its full-year 2023 accounts declaring corporate losses (after tax) totalling £879m as group leadership proceeds with its transformation programme evaluating the firm’s brand portfolio, capital allocation and operating structures The LSE-listed gambling group announced its FY2023 results this morning, reporting that “results are in line with expectations and leadership is committed to improving operational execution to …

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BetMGM revenue flies near $2bn mark in 2023

SBC News BetMGM revenue flies near $2bn mark in 2023

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 UK named Ascot’s Clarence House Chase headline sponsor

SBC News BetMGM UK named Ascot’s Clarence House Chase headline sponsor

BetMGM UK has announced its sponsorship of Ascot Racecourse’s Clarence House Chase Raceday on 20 January. This deal includes the headline sponsorship of the feature contest on the day, the £175,000 Grade 1 BetMGM Clarence House Chase.  The prestigious race has been won by some of the best two-mile chasers in recent history including Altior, Un De Sceaux and Sprinter …

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BetMGM named title sponsor of Premier League Darts

SBC News BetMGM named title sponsor of Premier League Darts

The PDC has announced that online sportsbook BetMGM is this year’s title sponsor for the Darts Premier League, taking over from Cazoo. The three-month event, now branded the BetMGM Premier League, will be held from February to May as eight players compete for £1m in prize money across 17 nights in various European cities. PDC Chief Executive, Matt Porter, commented: …

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Entain investors told that MGM has eyes only on BetMGM

SBC News Entain investors told that MGM has eyes only on BetMGM

US casino giant MGM Resorts will not be making a bid for the whole of Entain as the pressure from activist investors on the UK group’s CEO Jette Nygaard-Andersen shows few signs of easing following last week’s Financial Times reports of shareholders moving against her. According to sources close to the group, the US casino giant is “not interested” in bidding …

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Gibson & Nygaard-Andersen double Entain shareholding in sign of strategic confidence

SBC News Gibson & Nygaard-Andersen double Entain shareholding in sign of strategic confidence

Entain Plc has notified stakeholders of major share purchases initiated by leadership and board members as a sign of confidence in the long-term prospects of the FTSE100 gambling group.  A notification of share transactions on 8 November detailed that Chairman Barry Gibson had purchased 93,600 Entain shares. The transaction, valued at approximately £870,000, sees Gibson increase his personal shareholding in …

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Entain: streamline will answer difficult questions of growth on all fronts

Entain

Regulatory difficulties have dogged Entain’s Q3 performance significantly according to the group’s leadership, particularly in Germany and the UK with the group facing an ongoing HMRC investigation in the latter. Expect headlines…. In his address to investors following publication of the company’s Q3 results, group Chairman Barry Gibson informed that Entain will go before the courts during Q4 and expects …

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