BetMGM
MGM RESORTS AND ENTAIN ANNOUNCE BETMGM BUSINESS UPDATE
BetMGM, LLC, one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International and Entain plc, is providing an update on performance and outlook for 2022.
- BetMGM is achieving market share in line with its long-term target of 20% – 25% in U.S. sports betting and iGaming
- Number 2 operator for sports betting and iGaming across the markets in which it operates with a 24% market share for the three months to November 2021
- Remains market leader in iGaming with 30% market share for the three months to November 2021 in the markets in which it operates
- Live in 19 jurisdictions – 4 iGaming, 19 sports betting
- Expects to reach approximately 40% of the U.S. adult population with 2 further jurisdiction launches as well as launch in Canada and Puerto Rico in the coming months
- Strong financial performance in FY 2021:
- Net revenue from operations expected to be approximately $850 million1, ahead of management expectations and up nearly 5 times from prior year
- Same-state growth in net revenue from operations up 140% from prior year
- FY 2021 EBITDA loss expected to be in the range of $420 – $440 million, in line with expectations
- Cost per acquisition was in line with management’s forecast, which reaffirms the expectation of achieving a long-term acquisition cost of $250
- Player values in line with expectations, supporting long-term total addressable market opportunity in North America of approximately $32 billion
- FY 2022 net revenue from operations expected to be over $1.3 billion
- Continued growth will be supported by investment in additional markets and product deployments:
- Expecting to launch online sportsbooks in Illinois and Louisiana in the first quarter as well as retail sportsbooks in Puerto Rico and both online sportsbook and iGaming in Ontario later this year
- Expanding our first-to-market Bingo product and the BetMGM Racing app into additional states while continuing to enhance our products in existing markets
- Continuing to employ our returns-driven marketing strategy while further incorporating the MGM Resorts loyalty program into all aspects of our offering
- Maintaining our market-leading customer service while prioritizing responsible gaming across all facets of our business
- BetMGM anticipates reaching positive EBITDA in 2023, based on its current assumption of future live markets
- We have achieved positive contribution in several states, some within one year of launch, driven by our prudent, data-driven marketing strategy and by leveraging our omni-channel offering
- Wholly supportive of BetMGM’s continuing success, strong performance and market leadership, the investment by MGM Resorts and Entain is expected to be approximately $450 million in 2022
- This would bring the combined total investment from MGM Resorts and Entain to approximately $1.1 billion since launch in 2018
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Almir Ribeiro
BetMGM Brazil hires veteran journalist to lead government relations
BetMGM Brasil has appointed Fernando Vieira de Mello, a journalist with more than 30 years of experience across media, journalism and entertainment, to strengthen its government relations strategy in the country.
The hire comes as Brazil’s regulated betting market enters a phase of consolidation and maturity.
Vieira de Mello is widely recognised in Brazil’s communications market for his career at Grupo Globo, TV Bandeirantes, Rádio Bandeirantes and TV Cultura, where he held roles as reporter, anchor, journalism director and institutional relations executive.
Most recently, he served as director of institutional relations for São Paulo at Grupo Globo, building dialogue with market segments and regulatory bodies across the Brazilian ecosystem.
“Fernando brings a rare combination of experience in communications, management, institutional relations and a deep understanding of Brazil’s media ecosystem,” said Almir Ribeiro, CEO of BetMGM Brasil.
“His arrival further strengthens our long-term vision for the country.”
Vieira de Mello pointed to the scale of the opportunity ahead.
“Few sectors in Brazil will go through such an intense process of transformation and reputation building over the coming years as online betting.
BetMGM enters this moment with very solid attributes: an operation backed by two global groups of enormous credibility, exclusive focus on regulated markets and a clear long-term vision for Brazil.”
The appointment reflects BetMGM’s broader effort to deepen engagement with strategic stakeholders and advance its governance, responsibility and sustainable market-building agenda in Brazil.
BetMGM Brasil
Launched in January 2025, BetMGM Brasil is a joint venture between MGM Resorts International and Grupo Globo. Headquartered in São Paulo, the company was among the first 14 operators to receive definitive authorisation to operate in Brazil’s regulated betting market.
Beyond Brazil, BetMGM offers online gaming and betting platforms in 29 regulated US states and across Europe.
The post BetMGM Brazil hires veteran journalist to lead government relations appeared first on Americas iGaming & Sports Betting News.
BetMGM
BetMGM lands first-to-market exclusivity for new AGS Rakin’ Bacon! slots
Three-game rollout starts April 20 on BetMGM and Borgata Online Casino, with launches set for May 12 and July 2.
BetMGM has secured exclusive first-to-market rights to upcoming online slot titles from AGS’ Rakin’ Bacon!® franchise, with releases set to roll out across BetMGM and Borgata Online Casino, the company said April 20.
The first title, Rakin’ Bacon! Triple Oink Soda Fountain Fortunes, is available now. Two additional games are scheduled: Rakin’ Bacon! Triple Oink San Shen Zhu on May 12 and Rakin’ Bacon! Fu Zhu Bao Bao on July 2.
“The Rakin’ Bacon! franchise is a proven mainstay on casino floors and online,” said Oliver Bartlett, Senior Vice President of Gaming at BetMGM. “Securing first-to-market rights is a natural extension of the strong relationship we’ve built with top-tier game suppliers like AGS. As a premier online casino destination, it is our commitment to offer players first access to the most anticipated titles.”
BetMGM said Rakin’ Bacon! games have been among its top-performing content, noting that two slot titles from the franchise placed among the platform’s top 15 iGaming offerings in 2025.
Zoe Ebling, Vice President of Interactive at AGS, said, “AGS is focused on bringing the energy of land-based favorites into the digital world in ways that drive real engagement. Our continued partnership with BetMGM and bringing even more Rakin’ Bacon! titles online cements AGS’ commitment to offering standout gaming experiences to players across both platforms.”
More data as follows:
- BetMGM newsroom (original release): https://casino.betmgm.com/en/blog/press/ Primary source for the announcement and any follow-up details.
- AGS newsroom: https://newsroom.playags.com/ Company source for product and partnership updates on AGS’ interactive content.
- New Jersey Division of Gaming Enforcement: https://www.nj.gov/oag/ge/ Regulatory context for online casino operations referenced in Jersey City, NJ.
The post BetMGM lands first-to-market exclusivity for new AGS Rakin’ Bacon! slots appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BetMGM
Inspired Entertainment Announces Expansion of Virtual Sports with BetMGM
Inspired Entertainment Inc. announced that BetMGM, a leading iGaming and sports betting operator, has launched Inspired’s Virtual Sports content at BetMGM and Borgata Online sports betting platforms in New Jersey. The offering includes V-Play Soccer, V-Play Basketball, and V-Play NFL-themed Football.
Inspired’s V-Play Soccer and V-Play U.S. sports events consistently deliver incremental revenue for operators, combining broadcast-quality graphics with frequent betting opportunities that keep players engaged.
Inspired’s V-Play NFL-themed Football stands out as the first-ever NFL-themed Virtual Sports offering, giving football enthusiasts an exciting and unique way to interact with their favorite NFL teams through a fully engaging Virtual Sports experience.
“We are pleased to expand our partnership with BetMGM and Borgata to bring our proven Virtual Sports products to their New Jersey sportsbook. Our V-Play Soccer, Basketball, and V-Play NFL-themed Football products have demonstrated strong performance across regulated markets, driving meaningful incremental revenue and engagement for our operator partners. This launch underscores the growing role Virtual Sports play in modern sportsbooks, where companies that position Virtual Sports within their sportsbook, rather than their online casino, consistently generate higher revenues,” said Brooks Pierce, President and Chief Executive Officer of Inspired Entertainment.
“Inspired Entertainment is a leader in Virtual Sports and expanding our partnership represents an important milestone in elevating BetMGM and Borgata Online’s offerings in New Jersey. Inspired’s V-Play portfolio delivers the premium, engaging sports content and results from Ontario have shown a positive player response,” said Matt Prevost, Chief Revenue Officer at BetMGM.
Inspired’s V-Play Soccer, V-Play Basketball, and V-Play NFL-themed Football are currently live at BetMGM in Ontario, and has established a strong, loyal player base generating high, sustained performance across all three products.
Inspired continues to grow its Virtual Sports presence across regulated jurisdictions worldwide, providing operators with innovative, high-quality content designed to enhance engagement, generate incremental revenue, and ensure the season never ends.
The post Inspired Entertainment Announces Expansion of Virtual Sports with BetMGM appeared first on Americas iGaming & Sports Betting News.
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