BetMGM
BETMGM FIRST HALF 2023 UPDATE
NET REVENUE FROM OPERATIONS OF $944 MILLION IN FIRST HALF OF 20231
POSITIVE EBITDA FOR THE FULL SECOND QUARTER OF 20232
BetMGM, one of the leading sports betting and iGaming operators in North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on First Half of 2023 (“1H 2023”) performance and outlook for full-year 2023.
Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“I am pleased with the significant progress we have made during the first half of 2023 as we continue our strong growth and remain on our path to profitability. Our financial guidance for the year remains on track – we expect to deliver $1.8 to $2.0 billion in full year revenue, as well as to be EBITDA positive in the second half of 2023. In fact, we have already achieved positive EBITDA for the full second quarter of this year. Our focus remains on building a sustainable, scalable and returns focused business with leading products that our players enjoy responsibly. We look forward to the remainder of the year, buoyed by ongoing product improvements, tremendous support from our shareholders providing access to new assets and partnerships, and – above all – our extraordinary team at BetMGM.”
- BetMGM finished 1H 2023 with strong financial performance
- Net revenue from operations of $944 million, on track to deliver at the upper end of previous guidance range for FY 2023 revenue of $1.8 to $2.0 billion
- 1H same-state growth of 25% in net revenue from digital operations
- Reached the key milestone of positive EBITDA for 2Q 2023
- Improved same state CPAs by 8% in 1H 2023 year on year
- Bonus optimization and player management program continuing to have significantly positive impact, delivering enhanced GGR to NGR conversion:
- Sports NGR margin increased by 300 bps in 1H 2023 year on year
- Digital sports 1H revenue per player up by 65% for players acquired in 2021 or earlier
- Each of the annual cohorts of digital sportsbooks launched from 2019 through 2022 delivered positive Contribution Profit in 2Q3
- Net revenue from operations of $944 million, on track to deliver at the upper end of previous guidance range for FY 2023 revenue of $1.8 to $2.0 billion
- Remain on track for previously stated guidance of EBITDA positive in the second half of 2023 (“2H 2023”)
- Includes investment in upcoming launches in Kentucky and North Carolina that were not originally planned during 2023
- Expectation that BetMGM will become self-sustaining in 2H 2023, with no additional equity investment expected from MGM Resorts or Entain after the $150 million previously committed for 2023
- Established as a leading sports betting and iGaming operator in North America
- Continued geographic footprint expansion in 1H 2023, with new digital sports betting launches in Ohio, Massachusetts, and Puerto Rico
- Live in 26 jurisdictions, including Ontario, with access to approximately 48% of the adult population in the United States4
- Market share across iGaming and sports betting of 18%5
- Continued market leadership in iGaming with approximately 27% market share6
- Online sports betting market share of 11%, with 13% share in markets where BetMGM was live on day one6
- Entain and MGM Resorts contributed new technology, resources, and relationships to accelerate both BetMGM’s product evolution and its access to players
- Entain’s acquisition of pricing and risk specialist Angstrom, announced on July 17th, will enhance BetMGM’s sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering, and provide players with a greatly improved experience
- In connection with MGM Resorts’ exclusive partnership with Marriott, announced on July 17th, BetMGM entered into a loyalty marketing agreement with Marriott whereby BetMGM will offer customers extensive opportunities to earn Marriott Bonvoy points while playing with BetMGM, create exclusive games and experiences, and allow customers to exchange BetMGM Rewards points into Marriott Bonvoy points
- Various platform and product enhancements delivered to provide a more exciting and seamless experience. We’re on track with the rollout of Single Account Single Wallet
- Ongoing commitment to player safety, prioritizing responsible gambling across our business
- Five-year extension to GameSense partnership, announced on March 1st, continues BetMGM’s prominence of responsible gambling messages in its digital and out-of-home marketing campaigns, as well as in its mobile app and retail sportsbooks
- Through its GameSense partnership, BetMGM provides customers with information about how to bet responsibly, setting limits, dispelling myths, and finding support and assistance
- BetMGM awarded one of the Responsible Gambling Council’s top accreditations for integration of responsible gambling and player protection into platforms and operations
- Five-year extension to GameSense partnership, announced on March 1st, continues BetMGM’s prominence of responsible gambling messages in its digital and out-of-home marketing campaigns, as well as in its mobile app and retail sportsbooks
- Award recognition including
- Casino Operator of the Year by EGR North America (second year in a row)
- Casino Operator of the Year at SBC Awards North America (third year in a row)
- 2023-2024 Great Place to Work Certification

Notes:
1: 1H 2023 net revenue for BetMGM on a GAAP basis is expected to be approximately $923 million, including approximately $32 million related to Nevada MGM Resorts operations for which BetMGM records on a net basis as BetMGM is considered to be the agent in the Nevada transactions for GAAP purposes.
2: 1H 2023 Revenue and EBITDA figures are unaudited.
3. Contribution Profit for a particular state reflects Net Gaming Revenue minus direct costs (excluding depreciation and amortization and people costs) considered under GAAP presentation of Gross Profit plus marketing acquisition spend.
4: BetMGM operates iGaming and Sports Betting in five markets and Sports Betting in twenty-one markets.
5: Market share for last three months ending April 2023 by GGR including iGaming, retail and online sports betting, and only U.S. markets where BetMGM was active excluding New York; internal estimates used where operator-specific results are unavailable.
6: Market share for last three months ending April 2023 by GGR, including only U.S. markets where BetMGM was active and excluding New York in online sports; internal estimates used where operator-specific results are unavailable.
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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