BetMGM

BetMGM Enters into Partnership with Carnival Corporation

Published

3 years ago

June 21, 2022

BetMGM has announced a new partnership with Carnival Corporation to deliver world-class retail and mobile sports betting and iGaming experiences to cruise ship guests.

Through this partnership, gaming will be available on more than 50 ships ported in the U.S. spanning Carnival Cruise Line, Holland America Line, and Princess Cruises. BetMGM’s platform will roll out in phases over the coming months.

“We’ve found an ideal partner in Carnival Corporation and look forward to providing our sports betting and iGaming products to its millions of passengers. This is another great opportunity for us to further expand BetMGM’s footprint,” BetMGM CEO Adam Greenblatt said.

Under the agreement, Carnival Corporation will offer BetMGM-branded digital and cash-based sports betting, as well as digital real-money gaming products on-board Carnival’s US-branded ships in international waters. Additionally, BetMGM and Carnival Corporation will collaborate on co-marketing and promotional activations.

European Gaming Congress 2024 (Warsaw, Poland)

“We’re very proud to be able to deliver the excitement and engagement of sports betting and iGaming to our guests through our partnership with BetMGM. Our two leading global hospitality organizations will provide a wide array of immersive digital content as a complement to our exceptional shipboard casinos,” Marty Goldman, SVP Global Casino Operations for Carnival Corporation, said.

Adam Greenblatt Chief Executive Officer of BetMGM

BetMGM 1Q 2025 Business Update

Published

1 day 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

1 week 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.”

The post BetMGM Poker Championship Returns to ARIA Resort & Casino in Las Vegas June 30 – July 4 appeared first on Gaming and Gambling Industry in the Americas.

BetMGM

BetMGM Returns as Entitlement Sponsor of NASCAR Xfinity Series Race at Charlotte Motor Speedway, May 24

Published

1 week ago

April 24, 2025

GamingAmericas.com

betmgm-returns-as-entitlement-sponsor-of-nascar-xfinity-series-race-at-charlotte-motor-speedway,-may-24

BetMGM, a leading iGaming and sports betting operator, announced its return for the second year as the entitlement sponsor of the BetMGM 300 race (part of NASCAR’S Xfinity Series) at Charlotte Motor Speedway on Saturday, May 24.

The sports betting operator is also the title sponsor of the BetMGM Speed Street, the epicenter of entertainment, food and interactive experiences for fans in town for NASCAR’s tripleheader weekend, May 23-25. Headlining the fan festival will be GRAMMY-nominated, global phenom Smash Mouth bringing their signature sound and chart-topping hits to the BetMGM Speed Street Stage on Saturday, May 24.

“A little over a year after launching sports betting in North Carolina, BetMGM is pleased to be at the heart of the excitement for the BetMGM 300 and BetMGM Speed Street. As NASCAR betting continues to grow, this weekend presents a wonderful opportunity to connect with passionate motorsport and music fans in the Tar Heel State,” Casey Hurbis, Chief Marketing Officer at BetMGM, said.

BetMGM will be integrated throughout the BetMGM 300 NASCAR Xfinity Series showdown, from the honorary starter to pace cars and signage on billboard turns, to barrier decals and pit signs. The winner of the race will be awarded a full-size, custom BetMGM slot machine along with the BetMGM 300 trophy. Fans will be able to take photos with the trophy, slot machine and Richard Childress Racing’s No. 8 BetMGM Chevrolet driven by Kyle Busch at a new victory lane experience located within the BetMGM Speed Street.

Charlotte Motor Speedway President and General Manager Greg Walter said: “The stakes are going to be high when the Xfinity Series returns for the BetMGM300 this Memorial Day Weekend, but one sure bet is that the fans will ultimately be the big winners. With a weekend full of great music, driver appearances and interactive displays in BetMGM Speed Street and high-octane action on the track, this will be the can’t-miss event to kick off summer.”

The post BetMGM Returns as Entitlement Sponsor of NASCAR Xfinity Series Race at Charlotte Motor Speedway, May 24 appeared first on Gaming and Gambling Industry in the Americas.