BetMGM

BetMGM Announces Premiere BetMGM Poker Championship

Published

3 years ago

May 11, 2022

BetMGM, a leading sports betting and iGaming operator, announced that the first BetMGM Poker Championship is scheduled for June 23-26 at ARIA Resort & Casino in Las Vegas. The tournament, scheduled during the 2022 ARIA Poker Classic, will lead four days of BetMGM poker events.

“The first-ever BetMGM Poker Championship descends on Las Vegas during one of the most exciting times of the poker season. ARIA is a legendary poker brand and we’re thrilled that the Championship has become an integral part of this year’s Poker Classic. Through our relationship with MGM Resorts and its world-class U.S. properties, we’ll continue to leverage event programming and connect with players both online and in their favorite poker rooms,” said Luke Staudenmaier, Director of Poker, BetMGM.

The BetMGM Poker Championship at ARIA is a $3,500 buy-in no limit hold ’em tournament carrying a $1 million guarantee. On Saturday, June 25, a $600 buy-in BetMGM Poker Mystery Bounty will mark the first time ARIA has run this modern take on a live poker knockout tournament.

Through a rolling schedule of daily qualifiers and weekly satellites, BetMGM Poker will award prize packages to at least 15 players from each U.S. live poker market. The packages include a buy-in for the BetMGM Poker Championship, travel expenses, and a five-night stay at ARIA.

European Gaming Congress 2024 (Warsaw, Poland)

BetMGM

Octoplay Launches Jackpot Blitz with BetMGM in Ontario, Accelerating North American Expansion

Published

2 hours ago

May 6, 2025

GamingAmericas.com

octoplay-launches-jackpot-blitz-with-betmgm-in-ontario,-accelerating-north-american-expansion

Octoplay continues its expansion in North America by launching Jackpot Blitz with BetMGM in Ontario, building on the company’s continental growth strategy following its Michigan provisional license approval.

This strategic launch builds on the growing momentum with BetMGM, marking a significant milestone in Octoplay’s North American expansion, introducing the bespoke opt-in jackpot solution built in collaboration with BetMGM. The decision to expand the partnership with BetMGM demonstrates the strong relationship between the companies and sets a strong foundation for Octoplay’s continued growth across North America.

The Ontario launch builds on Octoplay’s rapid market entries over recent months, including Microgame’s network of 50 operators in Italy, Slovakia’s leading operator Niké, and Sweden’s state-owned Svenska Spel Sport&Casino. With active licenses in the UK, Sweden, Malta, Greece, Romania, Slovakia, Italy, and Belgium, Octoplay continues its accelerated expansion across both European and North American markets.

Jackpot Blitz has achieved a remarkable 88% player opt-in rate since launch. This performance, combined with BetMGM’s extensive player base, sets a strong foundation for Octoplay’s North American growth as the company prepares for launches in Michigan and additional US states in 2025.

“The launch of Jackpot Blitz with BetMGM in Ontario accelerates our North American expansion plans,” says Carl Ejlertsson, CEO at Octoplay. “Our strong partnership with BetMGM has enabled us to bring this innovative product to their Ontario players. With our proven track record of collaboration with top tier gaming operators like BetMGM, we’re ideally positioned to drive significant growth together in regulated markets across North America.”

Oliver Bartlett, VP of Gaming Product & Content at BetMGM, said: “Ontario is a key iGaming market for BetMGM, and adding Jackpot Blitz strengthens our vast collection of games. Octoplay is part of our strategy to collaborate with top-tier partners to bring the best content to our players.”

As Octoplay prepares for its Michigan launch in 2025, followed by entries into additional US states, this expansion with BetMGM represents another milestone in the company’s accelerated growth. The partnership reinforces Octoplay’s momentum as the company continues its rapid advancement in North America.

The post Octoplay Launches Jackpot Blitz with BetMGM in Ontario, Accelerating North American Expansion appeared first on Gaming and Gambling Industry in the Americas.

Adam Greenblatt Chief Executive Officer of BetMGM

BetMGM 1Q 2025 Business Update

Published

6 days ago

April 30, 2025

GamingAmericas.com

Strong start to 2025 affirms strategic approach and confidence of positive EBITDA in 2025

BetMGM LLC , one of the leading sports betting and iGaming operators across North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on its 1Q 2025 performance.

BetMGM’s strong momentum from 2H 2024 continued during 1Q 2025, driven by its leading iGaming offering and strengthened sports product, and refined approach to player management
1Q Net Revenue up +34% YoY with strong growth across both iGaming (+27%) and Online Sports (+68%)
Positive 1Q EBITDA and underlying trends reaffirm confidence that FY 2025 will be EBITDA positive¹

Adam Greenblatt, Chief Executive Officer of BetMGM, commented:

“2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan. The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale. In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavorable sports outcomes during key moments in the quarter. As we approach May, we remain confident in achieving full year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter.”

1Q 2025 Key Financial Highlights

1Q 2025 BetMGM Financial Summary^1,2,3
	Three months ended March 31
_{$ millions, unless otherwise noted}	2025	2024	YoY Change
Net Revenue
iGaming	$443	$348	+27%
Online Sports	$194	$116	+68%
Handle	$4,088	$3,174	+29%
GGR Hold %	8.2%	8.7%	(50)bps
NGR Hold %	4.8%	3.6%	+110bps
Retail / Other	$20	$26	(22)%
Total Net Revenue	$657	$489	+34%
Contribution	$116	($38)	+$153
EBITDA	$22	($132)	+$154
Average Monthly Actives (thousands)⁴	1,067	1,009	+6%

Financial Highlights

1Q Net Revenue of $657 million, up +34% YoY, continuing acceleration with strong underlying player engagement metrics
- iGaming Net Revenue up +27% YoY driven by leading iGaming offering
- Online Sports Net Revenue up +68% YoY demonstrating strengthened product offering, expansion of NGR margin, and enhanced player engagement
  - Handle up +29% YoY⁵
  - NGR margin improvement of +110 bps YoY
- Average Monthly Actives up +6% YoY, reflecting significant growth in iGaming players, partially offset by improved OSB approach to player segmentation and management
1Q EBITDA of $22 million (up $154 million YoY), with iGaming Contribution of $133 million and positive Contribution from Online Sports
- 1Q EBITDA benefited from one-time accounting items offset by the impact of customer friendly sports results
Continued stabilization of GGR market share in active markets with iGaming (22%) and Online Sports (8%), further cementing BetMGM’s podium position in the market^6,7
$150 million revolving credit facility remains undrawn

Operational highlights

Market leading iGaming offering
- 1Q Average Monthly Actives up +43% reflecting our leading iGaming offering and focused marketing investment
- Active Player Days up +39% YoY driven by unique and exclusive content across both real-money and free-to-play engagement games⁸
- Improved cross-sell engagement with +13 ppt YoY increase in percent of Online Sports players playing iGaming⁹
Strengthened Online Sports product coupled with focus on premium mass players and improved engagement
- Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
  - Growth of +4.8 ppt in parlay bet mix (inclusive of SGPs)¹⁰
  - Bets per Active increased +28% YoY¹¹
Refined approach to player retention with improved segmentation and promotional strategy
Handle per Active up +37% YoY¹²
Active Player Days up +20% YoY

Outlook

BetMGM’s year-to-date performance provides increased confidence in exceeding guidance, however we remain mindful it is still relatively early in the year. As such, we reaffirm our expectations for FY 2025 to be EBITDA positive, and Net Revenue guidance of $2.4 billion to $2.5 billion
- Reiterated expectations of Online Sports to be Contribution positive for FY 2025
Reaffirmed confidence in BetMGM’s pathway to $500 million EBITDA in the coming years

The post BetMGM 1Q 2025 Business Update appeared first on Gaming and Gambling Industry in the Americas.

BetMGM

BetMGM Poker Championship Returns to ARIA Resort & Casino in Las Vegas June 30 – July 4

Published

2 weeks ago

April 24, 2025

GamingAmericas.com

betmgm-poker-championship-returns-to-aria-resort-&-casino-in-las-vegas-june-30-–-july-4

BetMGM, a leading sports betting and iGaming operator, announced the BetMGM Poker Championship returns to ARIA in Las Vegas Monday, June 30 to Friday, July 4, highlighting the ARIA Poker Classic Summer Series. The no-limit hold ‘em tournament has a $3,500 buy-in and offers participants a $3 million guaranteed prize pool. For the fourth consecutive year, the BetMGM Poker Championship will begin in ARIA’s Poker Room and conclude with a live-streamed Final Table at the PokerGO Studio. The ARIA Poker Classic runs May 29 through July 13 with the full schedule available at ARIA Poker on X.

“BetMGM’s relationship with MGM Resorts is our differentiator and the BetMGM Poker Championship presents a unique opportunity to connect our online players with one of the premier properties and events that Las Vegas has to offer. We are preparing to use our brand ambassadors – Darren Elias and Abby Merk – as well as our media partners, to engage with the poker community in new ways throughout the summer,” said Angus Nisbet, VP of Gaming at BetMGM.

Online qualifiers for the BetMGM Poker Championship run at 9:15 p.m. EST every Thursday and Sunday through Sunday, June 22. More than 100 players from BetMGM Poker markets including New Jersey, Michan, Pennsylvania, and Ontario (Canada) will win BetMGM Poker Championship packages that include a $3,500 Championship entry, a five-night stay at ARIA, travel credit, and a BetMGM swag bag. A full online qualifier schedule is available at BetMGMPoker.com.

Ryan Kirk, ARIA’s Director of Poker Operations, said: “ARIA has long been recognized as the epicenter of poker in Las Vegas and we’re proud, once again, to host the BetMGM Poker Championship during our ARIA Poker Classic. This event continues to raise the bar, bringing together the prestige of our world-class poker room with BetMGM’s innovative online platform. We look forward to welcoming players from across North America to experience the energy, excitement and hospitality that ARIA delivers.”

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