Connect with us
Prague Gaming & TECH Summit 2024

Adam Greenblatt

BetMGM Launches Mobile Sports Betting in Maryland

Published

on

 

BetMGM, a leading sports betting and iGaming operator, launched its mobile app in Maryland giving customers access to a variety of online betting options and benefits tied to MGM Resorts’ premier destinations nationwide, including MGM National Harbor.

“This is a significant milestone that elevates our vision to deliver world-class entertainment to sports fans in the DC-Maryland-Virginia (DMV) region. The convenience of our best in-class mobile app connects directly to the engaging atmosphere we’ve created in our retail sportsbooks at MGM National Harbor and Nationals Park,” BetMGM CEO Adam Greenblatt said.

The BetMGM app offers a user-friendly sports betting platform experience, giving Maryland sports fans the ability to customize pre-game, live in-play, futures and parlay wagers. Additionally, integration with MGM Rewards allows Maryland’s BetMGM users to redeem their gameplay for world-class experiences at MGM Resorts properties nationwide including MGM Grand, Bellagio and ARIA in Las Vegas, Borgata in New Jersey, and Beau Rivage in Mississippi.

The mobile app complements the BetMGM Sportsbook & Lounge at MGM National Harbor that opened in December 2021. The BetMGM Sportsbook features a 360-degree jumbotron and 110-foot state-of-the-art wrap-around screen. MGM National Harbor has more than 40 sports betting kiosks located throughout the casino, a second BetMGM Sportsbook on the casino’s second level and a BetMGM betting counter and four kiosks at TAP Sports Bar.

Advertisement

“Today’s announcement is monumental as it allows us to expand our sports betting offerings and connect with guests beyond our resort’s walls. The BetMGM Sportsbook & Lounge is an incredible amenity, and the addition of the mobile app further enhances our customer experience,” Melonie Johnson, President and COO at MGM National Harbor, said.

BetMGM strengthened its commitment to the DMV in January 2022 when it opened the first retail sportsbook connected to a Major League Baseball stadium at Nationals Park in Washington, D.C. That followed the launch of the BetMGM mobile app in Virginia in January 2021.

Powered by WPeMatico

Continue Reading
Advertisement

Adam Greenblatt

BetMGM Announces North Carolina Market Access Agreement with Charlotte Motor Speedway

Published

on

betmgm-announces-north-carolina-market-access-agreement-with-charlotte-motor-speedway

 

BetMGM, a sports betting and iGaming leader, and Charlotte Motor Speedway, the iconic motorsports and entertainment venue, announced a new market access agreement enabling BetMGM to bring its online sports betting platform to North Carolina once legalized sports betting launches.

“We have been eagerly awaiting legal, safe, regulated online sports betting in North Carolina, a state with more than 10 million people and one of the most vibrant sports environments in the country. BetMGM’s partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians. Together we will deliver a premier and responsible gaming product that benefits many state agencies,” BetMGM CEO Adam Greenblatt said.

In addition to supporting many of North Carolina’s publicly funded colleges, tax revenues from sports betting will also support a major event fund, allowing the state to recruit national sports and entertainment events to drive additional tourism, job creation, and economic impact.

“BetMGM has established itself as a signature source for sports betting with partnerships in every major league sport and with venues across the country. With Charlotte Motor Speedway’s history of innovation, we wanted to move forward into this new era of sports entertainment with a progressive sportsbook. This partnership with BetMGM will bring sports fans new ways to enjoy their favorite events while expanding North Carolina’s tax base, supporting colleges and facilitating recruitment of major events for the future,” Greg Walter, Executive VP and General Manager of Charlotte Motor Speedway, said.

Advertisement
Continue Reading

Adam Greenblatt

BetMGM Targets $500M EBITDA in 2026

Published

on

betmgm-targets-$500m-ebitda-in-2026

 

Entain, the owner of betting firm Ladbrokes, announced that it aims to achieve a core profit of $500 million in 2026 for its U.S. sports-betting service, BetMGM, which it jointly owns with MGM Resorts.

The 2026 goal was set after BetMGM revealed it expects to be at the higher-end guidance for 2023. According to CEO Adam Greenblatt, revenue should be between $1.80 billion and $2.00 billion in the current financial year.

Greenblatt also said the operator sees 2024 as an “investment period,” having already proved profitability this year. While BetMGM expects to achieve a profitable H2 in 2023, the company expects negative EBITDA for 2024. It is, however, hoped the business will be EBITDA-positive in 2025.

BetMGM is now available in 28 markets in North America. Greenblatt noted North Carolina will be the brand’s next entry, with further opportunities in New York, Maryland, and Illinois.

Advertisement

As for market share, the CEO said BetMGM is now the third-largest online operator in the US, holding a 17% market share in total, behind only FanDuel and DraftKings.

To fortify BetMGM’s offerings, Entain completed the acquisition of US-based Angstrom Sports in July, with a potential consideration of up to £203 million ($256.3 million).

In addition to its partnership with MGM Resorts, Entain has been extending its footprint into Canada, the Netherlands, and other European regions through various acquisitions. The company continues to position itself strategically in response to evolving market dynamics.

The resurgence of live sporting events post-pandemic has contributed to the recovery of the online sports betting sector. Following the U.S. Supreme Court’s overturning in 2018 of a federal law prohibiting most states from engaging in sports betting, gambling firms have been intensifying their presence in the US.

However, Entain recently lowered its online profit margin forecast for 2023 after posting a revenue drop in Q3, leading to a decrease in its share value. Online net gaming revenue for the quarter was up 9% on a reported basis, but down 6% on a proforma basis.

Advertisement

This downward revision in profit margin is a reflection of some ongoing challenges faced by gambling firms, including stricter regulations and the impact of a cost-of-living crisis. In its announcement, Entain revealed that its online core profit margin for the year is expected to be approximately 25%, down from the 27.1% reported last year.

Entain has also set its sights on a return to growth in 2024. The operator expects that online net gaming revenue will start growing on a pro forma basis in the next year. Specifically, the company forecasts low single-digit growth in online gaming revenue, with online core profit margin expected to range between 24% and 25%.

Continue Reading

Adam Greenblatt

Turkeypalooza Presented by BETMGM Delivers 3600 Meals Into the Community

Published

on

turkeypalooza-presented-by-betmgm-delivers-3600-meals-into-the-community

 

This week, Washington Nationals Philanthropies hosted its biggest Thanksgiving meal distribution to date, giving out 900 turkeys and bags of food during Turkeypalooza presented by BetMGM. Now in its second year partnering with BetMGM, the annual event expanded to include winter hats and gloves in addition to nutrient-dense Thanksgiving meals for residents in need.

In its sixth year, Turkeypalooza has continued to grow, providing families with a turkey as well as a bag of additional food, including shelf-stable items and fresh produce, to help local residents complete their Thanksgiving meals. This year’s distribution delivered more than 3600 complete meals into communities where food access is already a challenge. Nationals and BetMGM employees packed the bags – over 20,000 pounds – at Nationals Park, and Nationals outfielder Stone Garrett joined the effort distributing meals and winter gear at BetMGM Sportsbook.

“Our fans support us all season long, so to give back to the community means a lot, especially during the holiday season,” Garrett said. “Growing up, I saw Matt Kemp stretching, and that’s the moment I knew I wanted to be a big league player,” he continued “so if I can be that for one kid, whether it’s stretching on the field or giving his family a turkey, it means a lot.”

Turkeypalooza is just one way that Washington Nationals Philanthropies works to address the lack of food access in the region. The Academy operates the only year-round farmers market in Ward 7, providing community members with shares of fresh produce at a steeply discounted rate.

Advertisement

“Nationals Philanthropies tackles food insecurity year-round by providing education and supporting improved access to healthy food in Washington, D.C. communities with the greatest need. Disparity in food access is a key driver of hunger in the region, and the strain on access is heightened during the holiday season. Thanks to our continued partnership with BetMGM, we can expand our Thanksgiving meal distribution to help thousands of residents celebrate the holiday with a full meal,” said Tal Alter, Chief Executive Officer of Washington Nationals Philanthropies.

“BetMGM remains committed to investing in the communities where our employees and customers live and work. As the official sportsbook of the Washington Nationals, BetMGM partnered with Nationals Philanthropies last year to expand the foundation’s efforts and open Turkeypalooza to the larger public for the first time. We are proud to continue this important relationship to once again support families in need this holiday season,” said Adam Greenblatt, Chief Executive Officer at BetMGM.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania