BetMGM

BETMGM FIRST HALF 2023 UPDATE

Published

2 years ago

July 28, 2023

GamingAmericas.com

NET REVENUE FROM OPERATIONS OF $944 MILLION IN FIRST HALF OF 2023¹

POSITIVE EBITDA FOR THE FULL SECOND QUARTER OF 2023²

BetMGM, one of the leading sports betting and iGaming operators in North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on First Half of 2023 (“1H 2023”) performance and outlook for full-year 2023.

Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“I am pleased with the significant progress we have made during the first half of 2023 as we continue our strong growth and remain on our path to profitability. Our financial guidance for the year remains on track – we expect to deliver $1.8 to $2.0 billion in full year revenue, as well as to be EBITDA positive in the second half of 2023. In fact, we have already achieved positive EBITDA for the full second quarter of this year. Our focus remains on building a sustainable, scalable and returns focused business with leading products that our players enjoy responsibly. We look forward to the remainder of the year, buoyed by ongoing product improvements, tremendous support from our shareholders providing access to new assets and partnerships, and – above all – our extraordinary team at BetMGM.”

BetMGM finished 1H 2023 with strong financial performance
- Net revenue from operations of $944 million, on track to deliver at the upper end of previous guidance range for FY 2023 revenue of $1.8 to $2.0 billion
  - 1H same-state growth of 25% in net revenue from digital operations
- Reached the key milestone of positive EBITDA for 2Q 2023
- Improved same state CPAs by 8% in 1H 2023 year on year
- Bonus optimization and player management program continuing to have significantly positive impact, delivering enhanced GGR to NGR conversion:
  - Sports NGR margin increased by 300 bps in 1H 2023 year on year
  - Digital sports 1H revenue per player up by 65% for players acquired in 2021 or earlier
- Each of the annual cohorts of digital sportsbooks launched from 2019 through 2022 delivered positive Contribution Profit in 2Q³

Remain on track for previously stated guidance of EBITDA positive in the second half of 2023 (“2H 2023”)
- Includes investment in upcoming launches in Kentucky and North Carolina that were not originally planned during 2023
- Expectation that BetMGM will become self-sustaining in 2H 2023, with no additional equity investment expected from MGM Resorts or Entain after the $150 million previously committed for 2023

Established as a leading sports betting and iGaming operator in North America
- Continued geographic footprint expansion in 1H 2023, with new digital sports betting launches in Ohio, Massachusetts, and Puerto Rico
- Live in 26 jurisdictions, including Ontario, with access to approximately 48% of the adult population in the United States⁴
- Market share across iGaming and sports betting of 18%⁵
  - Continued market leadership in iGaming with approximately 27% market share⁶
  - Online sports betting market share of 11%, with 13% share in markets where BetMGM was live on day one⁶

Entain and MGM Resorts contributed new technology, resources, and relationships to accelerate both BetMGM’s product evolution and its access to players
- Entain’s acquisition of pricing and risk specialist Angstrom, announced on July 17^th, will enhance BetMGM’s sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering, and provide players with a greatly improved experience
- In connection with MGM Resorts’ exclusive partnership with Marriott, announced on July 17^th, BetMGM entered into a loyalty marketing agreement with Marriott whereby BetMGM will offer customers extensive opportunities to earn Marriott Bonvoy points while playing with BetMGM, create exclusive games and experiences, and allow customers to exchange BetMGM Rewards points into Marriott Bonvoy points
- Various platform and product enhancements delivered to provide a more exciting and seamless experience. We’re on track with the rollout of Single Account Single Wallet

Ongoing commitment to player safety, prioritizing responsible gambling across our business
- Five-year extension to GameSense partnership, announced on March 1^st, continues BetMGM’s prominence of responsible gambling messages in its digital and out-of-home marketing campaigns, as well as in its mobile app and retail sportsbooks
  - Through its GameSense partnership, BetMGM provides customers with information about how to bet responsibly, setting limits, dispelling myths, and finding support and assistance
- BetMGM awarded one of the Responsible Gambling Council’s top accreditations for integration of responsible gambling and player protection into platforms and operations

Award recognition including
- Casino Operator of the Year by EGR North America (second year in a row)
- Casino Operator of the Year at SBC Awards North America (third year in a row)
- 2023-2024 Great Place to Work Certification

Notes:
1: 1H 2023 net revenue for BetMGM on a GAAP basis is expected to be approximately $923 million, including approximately $32 million related to Nevada MGM Resorts operations for which BetMGM records on a net basis as BetMGM is considered to be the agent in the Nevada transactions for GAAP purposes.
2: 1H 2023 Revenue and EBITDA figures are unaudited.
3. Contribution Profit for a particular state reflects Net Gaming Revenue minus direct costs (excluding depreciation and amortization and people costs) considered under GAAP presentation of Gross Profit plus marketing acquisition spend.
4: BetMGM operates iGaming and Sports Betting in five markets and Sports Betting in twenty-one markets.
5: Market share for last three months ending April 2023 by GGR including iGaming, retail and online sports betting, and only U.S. markets where BetMGM was active excluding New York; internal estimates used where operator-specific results are unavailable.
6: Market share for last three months ending April 2023 by GGR, including only U.S. markets where BetMGM was active and excluding New York in online sports; internal estimates used where operator-specific results are unavailable.

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American gambling industry

Gaming Americas Weekly Roundup – September 22-28

Published

2 weeks ago

September 30, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-september-22-28

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

The Brazilian Institute of Responsible Gaming (IBJR), an entity that brings together the leading operators of regulated sports betting and online gaming in Brazil and worldwide, is beginning a process of leadership transition. Fernando Vieira is leaving the executive presidency of the institution to pursue a new professional opportunity in another sector. The association has already started the process of selecting Fernando’s successor, and during this transition period, André Gelfi, current director, board member and one of the founders of the entity, will serve as interim president. During his tenure, Fernando was one of the most active voices in consolidating the regulated betting sector in Brazil, helping to shape the public debate, expanding the responsible gaming agenda and leading the fight against the illegal market, which still represents a large portion of activity in the country.

Genius Sports Limited has announced that it has acquired Sports Innovation Lab, the leader in sports fan data. The acquisition fast-tracks the expansion of Genius Sports’ media business, combining the most comprehensive official game data with the deepest fan intelligence available. Together, the two companies will deliver a 360° view of the modern fan journey, uniting on-field performance with off-field transactions, unlocking new value and innovation across the global sports ecosystem. This combination creates the most comprehensive fan database in sports and entertainment, tracking billions of annual transactions, including purchases, attendance and viewership. It enables brands and agencies to target fans with unmatched precision, directly connect campaigns to real behaviours and transactions, and deliver measurable ROI across every channel.

Partnerships

CT Gaming has announced another successful installation in the Latin American region, strengthening its footprint in one of the most dynamic gaming markets worldwide. In partnership with Group Caliente, CT Gaming has introduced the Diamond King 4 multigame on the cutting-edge NEXT cabinet at the operator’s venue in the region of Tijuana, Mexico. This installation brings a premium gaming experience, combining next-generation hardware with one of CT Gaming’s most celebrated multigames. This is not the first collaboration between CT Gaming and Group Caliente, as the two companies have built a strong and lasting partnership over the years. However, the new project represents an important step forward, further enhancing the gaming offerings available to players in the region.

BetMGM has announced a new content partnership making BetMGM the presenting sponsor of Playmaker HQ’s “Roommates Show” with Jalen Brunson and Josh Hart. Playmaker HQ, part of Better Collective’s global House of Brands, is also debuting “No Limit” under its dedicated casino content arm, All In – a new show featuring former NBA star Iman Shumpert. BetMGM will serve as the presenting sponsor. “Roommates Show” is a weekly video podcast hosted by Josh Hart and Jalen Brunson, two of the NBA’s top rising stars and backcourt dynamic duo of the New York Knicks. Joining Josh and Jalen is their best friend and college roommate, Matt Hillman, serving as the show’s third co-host. The latest season began September 6 with BetMGM as the presenting sponsor.

The post Gaming Americas Weekly Roundup – September 22-28 appeared first on European Gaming Industry News.

BetMGM

BetMGM Partners with Fremantle to Launch New “The Price is Right” Game

Published

1 month ago

September 12, 2025

GamingAmericas.com

betmgm-partners-with-fremantle-to-launch-new-“the-price-is-right”-game

BetMGM and Fremantle, a world leader in creating, producing and distributing entertainment content, announced the introduction of “The Lion’s Share,” a new pricing game for “The Price is Right,” television’s longest-consecutive running game show. BetMGM, a leading iGaming and sports betting operator, will sponsor the game throughout the show’s 54th season. “The Lion’s Share” is the first custom-branded game in the show’s history and will debut Monday, Sept. 22 in the premiere episode on CBS.

“BetMGM is always looking for ways to create legendary moments. This collaboration combines the legacy of an iconic gameshow with the excitement of the BetMGM brand. The rarity of a new pricing game and the opportunity for players to win one of the largest prizes in the show’s history reflects BetMGM’s focus on bringing a world of unmatched entertainment to our players,” Matt Prevost, Chief Revenue Officer at BetMGM, said.

“The Lion’s Share” game was created as part of the partnership between BetMGM and Fremantle and is the first new pricing game to be added to the show since 2021. Contestants will have an opportunity to win up to $500,000 in cash, cars, trips, and prizes. The game begins with a challenge, where players judge if the prices of everyday items are correct. Each right answer earns them a ball, for a maximum of five. They then step into a wind tunnel chamber to collect the number of balls they’ve earned, with each ball corresponding to a particular prize, or possibly a “Lose It All” option. Contestants reveal their prizes one at a time or may stop at any point to keep what they’ve won.

“It’s an exciting moment when a new game is added. Partnering with BetMGM, a brand known for innovation in games and entertainment, is the perfect collaboration. We look forward to bringing a fresh energy to a timeless format, while honoring the iconic gameplay fans know and love,” Suzanne Lopez, COO of Fremantle, said.

In January 2025, BetMGM announced a multi-year agreement with Fremantle that secured the intellectual property rights for iconic game shows “The Price is Right” and “Family Feud” for slots, table games and non-traditional casino games. The Price is Right Big Wheel Bonus is now available exclusively at BetMGM Casino platforms. The Price is Right Fortune Pick and The Price is Right Gold Blitz Ultimate are scheduled to debut in September. Other titles scheduled during the fall include Cliff Hangers, Plinko, The Big Wheel, and Pathfinder. In addition, a “Lion’s Share” online casino game is in development with a planned 2026 release.

BetMGM’s award-winning online casino is home to over 5400 titles across North American markets and one of the largest state-by-state exclusive progressive jackpot networks. BetMGM’s jackpot network currently consists of over 25 games including popular titles such as MGM Grand Millions, Bison Fury, and 15 Lanterns. Players can earn BetMGM Rewards Points and Tier Credits by playing at BetMGM Casino. BetMGM Rewards points can be redeemed for digital bonuses, MGM Rewards Points, and Marriott Bonvoy Points.

The post BetMGM Partners with Fremantle to Launch New “The Price is Right” Game appeared first on Gaming and Gambling Industry in the Americas.

American Gaming Association

MGM Resorts & BETMGM Expand Responsible Gaming Presence with Increased GameSense Messaging in NFL Stadiums

Published

1 month ago

September 2, 2025

GamingAmericas.com

mgm-resorts-&-betmgm-expand-responsible-gaming-presence-with-increased-gamesense-messaging-in-nfl-stadiums

MGM Resorts International and BetMGM announced that they are once again partnering with the American Gaming Association (AGA) to promote Responsible Gaming Education Month (RGEM 2025) this September.

For the third consecutive year, GameSense messaging will appear at select NFL stadiums on LED ribbons—including one new venue this upcoming football season. Also new for the 2025 season, these messages will be featured prominently on stadium scoreboards during pre-game activities and also within gameday magazines. GameSense is an industry-leading responsible gaming program first developed and licensed to MGM Resorts in 2017 by the British Columbia Lottery Corporation (BCLC). The program focuses on positive, transparent, and proactive engagements with guests and customers about how to gamble responsibly.

GameSense messaging will be promoted at the following stadiums:

• Acrisure Stadium (Pittsburgh Steelers)

• Allegiant Stadium (Las Vegas Raiders)

• Empower Field at Mile High (Denver Broncos)

• Ford Field (Detroit Lions)

• GEHA Field at Arrowhead Stadium (Kansas City Chiefs)

• Lincoln Financial Field (Philadelphia Eagles)

• M&T Bank Stadium (Baltimore Ravens)

• MetLife Stadium (New York Jets)

• Nissan Stadium (Tennessee Titans)

• State Farm Stadium (Arizona Cardinals)

“Placing GameSense in league stadiums gives us direct access to millions of fans each week. It’s a powerful platform to promote public awareness and amplify our company’s commitment to provide a safe and informed gambling experience,” said Rhea Loney, Chief Compliance Officer at BetMGM.

In September, GameSense and the AGA’s Play Smart from the Start messaging will reach guests via digital platforms, retail sportsbooks, Las Vegas marquees, and the new MGM Grand Live Dealer studio. BetMGM Sportsbook messaging will also remind players to “take a time-out” and “budget before you bet,” with QR codes linking to responsible gaming resources.

Trained GameSense Advisors will continue supporting guests at BetMGM Sportsbooks and MGM Rewards desks nationwide. MGM Resorts has now certified over 1900 employees through the GameSense Advisor program, while BetMGM has continued its partnership with EPIC Global Solutions to deliver lived–experience training to all employees.

Also, coinciding with RGEM 2025, MGM Resorts announced a $250,000 contribution to the International Center for Responsible Gaming. This donation will support independent, peer–reviewed research that advances best practices aimed at supporting casino employees and player protection strategies.

Stephen Martino, SVP and Chief Compliance Officer at MGM Resorts, said: “Investing in our team members through extensive training and scientific research sets higher operational standards and elevates the guest experience. It also supports the long-term sustainability of our business and the communities where we operate.”

Building on that commitment, both MGM Resorts and BetMGM continue to support the AGA’s “Have A Game Plan. Bet Responsibly.” public-service campaign, which educates both new and experienced sports bettors on safe wagering practices and choosing licensed operators in regulated markets.

Joe Maloney, SVP of Strategic Communications at American Gaming Association, said: “Collaboration plays a vital role in enhancing responsible gaming outcomes. We’re proud to partner with MGM Resorts and BetMGM and see firsthand how these efforts are making a meaningful difference.”

The post MGM Resorts & BETMGM Expand Responsible Gaming Presence with Increased GameSense Messaging in NFL Stadiums appeared first on Gaming and Gambling Industry in the Americas.