Adam Greenblatt Chief Executive Officer of BetMGM
MGM Resorts International and Entain Announce BetMGM Investor Day Highlights
BetMGM, LLC, one of the leading sports betting and iGaming operators in the U.S., jointly owned by MGM Resorts International and Entain plc, is providing a business update setting out the key drivers of its strong momentum and future expectations as it delivers a market leading position in the U.S.
As part of the investor day, BetMGM announces the following:
- BetMGM is the number one market leader across the U.S. in iGaming with a market share of 23% over the three months ended February 2021, and is on course to take the number two spot in U.S. sports betting and iGaming overall
- Sports betting & iGaming continues to accelerate across North America. As such, BetMGM now expects the total long-term addressable market in the U.S. and Canada to be approximately $32 billion
- With continued strong momentum in its business, BetMGM now expects that, as a leading operator, it will drive long-term market share of approximately 20% – 25% in the U.S.
- BetMGM expects to achieve $1 billion of net revenue from operations in 2022
- The investment by MGM Resorts and Entain this year is expected to be approximately $450 million, incremental to the $210 million already invested until the end of 2020
Further details will be presented at the investor day event.
“BetMGM has demonstrated strong momentum, building a leading position in iGaming and on track to be the number two operator across sports betting and iGaming in the U.S.,” said Adam Greenblatt, Chief Executive Officer of BetMGM. “The U.S. market is shaping up to be even larger and more exciting than we originally envisaged, and we now believe it will be worth $32 billion, including Canada. Furthermore, the outstanding progress that the team has made so far means that we now expect to achieve 20-25% U.S. market share long term. The unique partnership of MGM Resorts’ leading brand and loyal customer base and Entain’s proprietary technology platform gives us the best resources to win in this market.”
Powered by WPeMatico
-
eSports6 days ago
North Star Network Acquires Um Dois Esportes
-
BiS SiGMA Americas6 days ago
GR8 Tech Brings “Best Workplace 2024” and Fresh LatAm Insights from BIS SiGMA Americas
-
Baltics6 days ago
Evoplay bolsters presence in Lithuania with Betsafe deal
-
GAT Expo6 days ago
Successful Exhibition for Spintec at the GAT in Cartagena
-
Latest News6 days ago
Week 17/2024 slot games releases
-
Compliance Updates6 days ago
EGBA Welcomes European Parliament’s Approval Of New EU Anti-Money Laundering Framework
-
IAGA6 days ago
The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.
-
Balkans3 days ago
CT Gaming to Showcase its Latest Products at the Belgrade Future Gaming Exhibition