BetMGM
MGM RESORTS AND ENTAIN ANNOUNCE BETMGM BUSINESS UPDATE
BetMGM, LLC, one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International and Entain plc, is providing an update on performance and outlook for 2022.
- BetMGM is achieving market share in line with its long-term target of 20% – 25% in U.S. sports betting and iGaming
- Number 2 operator for sports betting and iGaming across the markets in which it operates with a 24% market share for the three months to November 2021
- Remains market leader in iGaming with 30% market share for the three months to November 2021 in the markets in which it operates
- Live in 19 jurisdictions – 4 iGaming, 19 sports betting
- Expects to reach approximately 40% of the U.S. adult population with 2 further jurisdiction launches as well as launch in Canada and Puerto Rico in the coming months
- Strong financial performance in FY 2021:
- Net revenue from operations expected to be approximately $850 million1, ahead of management expectations and up nearly 5 times from prior year
- Same-state growth in net revenue from operations up 140% from prior year
- FY 2021 EBITDA loss expected to be in the range of $420 – $440 million, in line with expectations
- Cost per acquisition was in line with management’s forecast, which reaffirms the expectation of achieving a long-term acquisition cost of $250
- Player values in line with expectations, supporting long-term total addressable market opportunity in North America of approximately $32 billion
- FY 2022 net revenue from operations expected to be over $1.3 billion
- Continued growth will be supported by investment in additional markets and product deployments:
- Expecting to launch online sportsbooks in Illinois and Louisiana in the first quarter as well as retail sportsbooks in Puerto Rico and both online sportsbook and iGaming in Ontario later this year
- Expanding our first-to-market Bingo product and the BetMGM Racing app into additional states while continuing to enhance our products in existing markets
- Continuing to employ our returns-driven marketing strategy while further incorporating the MGM Resorts loyalty program into all aspects of our offering
- Maintaining our market-leading customer service while prioritizing responsible gaming across all facets of our business
- BetMGM anticipates reaching positive EBITDA in 2023, based on its current assumption of future live markets
- We have achieved positive contribution in several states, some within one year of launch, driven by our prudent, data-driven marketing strategy and by leveraging our omni-channel offering
- Wholly supportive of BetMGM’s continuing success, strong performance and market leadership, the investment by MGM Resorts and Entain is expected to be approximately $450 million in 2022
- This would bring the combined total investment from MGM Resorts and Entain to approximately $1.1 billion since launch in 2018
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BetMGM
MGM Resorts & BetMGM Commit Over $1 Million to Responsible Gaming Initiatives During Problem Gambling Awareness Month
MGM Resorts International and BetMGM have announced a $1 million expanded commitment to responsible gaming research, public awareness, community partnerships, and employee engagement. This news comes as MGM Resorts and BetMGM join the National Council on Problem Gambling (NCPG) in recognizing March as Problem Gambling Awareness Month (PGAM).
Initiatives include the following:
MGM Resorts & BetMGM Support Independent, Evidence-Based Research
MGM Resorts and BetMGM have jointly committed $450,000 to the International Center for Responsible Gaming (ICRG) to fund a new, groundbreaking research initiative examining sports wagering and its impact on player behavior. This contribution will support independent, peer-reviewed research aimed at developing best practices and strengthening long-term industry sustainability.
“As sports betting continues to grow so must our understanding of its impact on our guests and customers. Investing in high quality research allows us to be guided by valuable data and insights, which will ultimately help us support our patrons, communities and industry,” said Stephen Martino, Senior Vice President and Chief Compliance Officer at MGM Resorts.
Over three years, the research will examine factors that may influence sports betting behaviors, including decision-making and risk patterns across different populations. The study will also explore trends and prevention efforts designed to strengthen industry-wide responsible gaming strategies.
Rhea Loney, Chief Compliance Officer at BetMGM, said: “Problem Gambling Awareness Month is an important reminder of our year-round responsibility to assist and empower our players. We prioritize player protection by investing in education, tools, collaboration, and meaningful support resources. Our commitment remains clear: to help every player make informed decisions and enjoy our products safely.”
Community & State Support Initiatives
In 2026, MGM Resorts and BetMGM will contribute over $850,000 to state and national organizations focused on problem gambling prevention, treatment, and responsible gaming measures. As a Founding Member, MGM Resorts will continue its sponsorship of the annual Nevada Council on Problem Gambling Conference and will feature the organization’s leaders in responsible gaming training sessions for employees.
Expanding GameSense Engagement & Employee Certification
Throughout March and beyond, MGM Resorts and BetMGM will increase responsible gaming messaging across casino floors, sportsbooks, and digital platforms through their shared GameSense program, developed and licensed by the British Columbia Lottery Corporation (BCLC).
This involves:
Expanded nationwide GameSense Advisor training, now exceeding 2000 certified team members equipped to engage guests in proactive conversations and support
Increased responsible gaming visibility across both gaming and non-gaming resort areas, including convention spaces, arenas, theaters, as well as MGM Rewards desks and the BetMGM app, with messages and QR codes reminding players to “take a time-out” and “set a budget”
A Problem Gambling Awareness Month email campaign, featuring GameSense, sent to all BetMGM customers
An MGM Rewards guest survey to measure awareness and perception of responsible gaming initiatives and GameSense
Participation in the Cambridge Health Alliance’s 13th annual Gambling Disorder Screening Day, supported through employee communications and training channels.
Launch of New Responsible Gaming Campaign
This spring, MGM Resorts will introduce a new campaign, Earn More. Play Smart. integrating MGM Rewards with responsible play messaging. The campaign will remind guests that membership comes with responsibility, not just perks. BetMGM’s Mullet Over hockey-themed responsible gaming commercial featuring company ambassador Connor McDavid will continue to air during key sports broadcast across North America and will also be featured prominently across MGM Resorts properties.
The post MGM Resorts & BetMGM Commit Over $1 Million to Responsible Gaming Initiatives During Problem Gambling Awareness Month appeared first on Americas iGaming & Sports Betting News.
BetMGM
BetMGM and the Cavinder Twins to Debut “The Court of Legends” at Bellagio in Las Vegas for College Basketball Championship
BetMGM, a leading sports betting and iGaming operator, will team up with Haley and Hanna Cavinder — former Division I basketball players and prominent social media influencers — to unveil The Court of Legends, a first–of–its–kind, speakeasy–style basketball experience, April 4-6 at Bellagio in Las Vegas during the final weekend of March Matchups.
Hidden within the resort, the Court of Legends will feature an immersive, custom-built court serving as the hub for BetMGM’s March basketball celebrations. Throughout the weekend, the venue will host exclusive events and influencer-driven basketball exhibitions, all building toward a Cavinder vs. Cavinder skills showdown on Sunday, April 5. The twins will go head-to–head in custom competitions, with the event live streamed on X, YouTube and the BetMGM app, giving fans a front-row seat to the action.
“BetMGM is committed to creating legendary experiences for our players that go beyond the game, and the Court of Legends will be our most ambitious idea yet. We’re creating something epic that blends basketball, entertainment and the unmistakable energy of Las Vegas. With their rare ability to connect with fans on and off the court, Haley and Hanna are the perfect partners to bring this concept to life,” said Casey Hurbis, Chief Marketing Officer at BetMGM.
The Cavinder twins said in a joint statement: “We’ve played on a lot of courts over the years, but nothing like the Court of Legends. BetMGM is bringing together VIPs, creators, and all the vibes in one place, and we’re excited to step on that floor, compete, and have fun.”
The post BetMGM and the Cavinder Twins to Debut “The Court of Legends” at Bellagio in Las Vegas for College Basketball Championship appeared first on Americas iGaming & Sports Betting News.
BetMGM
FanDuel to Eliminate Credit Card Deposits Starting March 2
FanDuel Sportsbook will no longer accept deposits by credit cards beginning March 2, the same step DraftKings Sportsbook took in August.
FanDuel issued a statement saying this decision has been in the works.
“Over the last few months, FanDuel has been evaluating the payment methods that we offer to customers and made the decision to remove credit cards as an option for our Sportsbook, casino and racing product in the United States. This change was made to improve the deposit experience for our customers,” the sportsbook said.
Many sports bettors don’t use credit cards because they are responsible for the fees.
U.S. Sen. Elizabeth Warren of Massachusetts applauded FanDuel’s actions.
“Last week, I asked sports betting companies about Americans getting scammed by credit card companies when placing sports bets – to the tune of a $10 junk fee just to fund a $20 bet,” Warren posted on social media.
“Glad to see Fanduel take action to protect consumers from these junk fees, joining DraftKings. The rest of the industry should follow suit.”
Two notable sportsbooks with nationwide locations, BetMGM and Caesars, accept credit cards.
FanDuel also announced Jan. 22 a program called “Play with a Plan” to encourage responsible wagering. Bettors are able to track their account activity, set spending limits and establish deposit notifications.
The post FanDuel to Eliminate Credit Card Deposits Starting March 2 appeared first on Americas iGaming & Sports Betting News.
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