BetMGM

BETMGM FIRST HALF 2023 UPDATE

Published

3 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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BetMGM

BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes, Sending Fans to New York for Sports Illustrated Beyond the Pitch Party

Published

2 days ago

June 4, 2026

GamingAmericas.com

BetMGM, a leading sports betting and iGaming operator, and Marriott Bonvoy are teaming up to send 10 grand prize winners and their guests to New York City for VIP access to SI Beyond the Pitch, a VIP Event Series produced by Authentic Live and Medium Rare and one of the most anticipated soccer celebrations of the summer.

Now through Sunday, June 21, 2026, eligible BetMGM players who link their BetMGM and Marriott Bonvoy accounts and wager a minimum of $10 can enter the Marriott Bonvoy & BetMGM World’s Game Sweepstakes for a chance to win an unforgettable soccer-inspired getaway featuring exclusive event access, travel, dining, hotel accommodations and Marriott Bonvoy points.

“At BetMGM, we’re always looking for ways to reward our players with legendary experiences they simply can’t get anywhere else. Partnering with Marriott Bonvoy for this event allows us to bring fans inside the velvet ropes during a once–in–a–generation moment on the global sports stage,” said Matt Prevost, Chief Revenue Officer at BetMGM.

Jamie Russo, VP of Global Financial Partnerships at Marriott International, said: “This summer is going to be historic for soccer fans, and through our collaboration with BetMGM, we’re bringing members to one of the most coveted events of the season. SI Beyond the Pitch in New York City puts them right at the center of the action, and it’s exactly the kind of experience this partnership was built to deliver.”

Marriott Bonvoy & BetMGM World’s Game Sweepstakes

The culmination of the SI Beyond the Pitch nationwide event series takes place in New York City on Saturday, July 18 for a star–studded celebration at the iconic Cipriani restaurant, featuring headline performances by 50 Cent and Diplo.

Through the sweepstakes, participants will have the opportunity to win a trip to attend the event, with prizes including:

Grand Prizes (10 winners, plus one (1) guest each):

• VIP access to the SI Beyond the Pitch Party

• Round–trip travel to New York City or $1000 in withdrawable bonus funds toward travel (varies by entry period)

• Three–night hotel stay at Moxy Lower East Side in New York, NY

• Dinner at L’Artusi Supper Club

Secondary Prizes (30 winners):

• $100 Bonus Bet

All Participants:

• 2500 Marriott Bonvoy points awarded for earning at least one (1) entry per entry period.

Players who have linked their BetMGM and Marriott Bonvoy accounts can enter by opting in on the BetMGM Sportsbook app or at BetMGM.com. A minimum $10 wager earns one (1) entry, with participants able to earn up to 25 entries per entry period. Winners will be selected weekly throughout the promotional period.

Additional terms and eligibility requirements apply. Bonus bets expire in seven (7) days and are non-withdrawable. This offer is not available in Nevada, New York, Ontario or Puerto Rico.

In 2024, BetMGM and Marriott Bonvoy launched a first-of-its-kind rewards collaboration which allows players in licensed states to link their Marriott Bonvoy and BetMGM accounts and earn BetMGM Rewards points when they wager using the sports betting app or play at the award-winning online casino. Players can exchange BetMGM Rewards points for Marriott Bonvoy points, up to 1 million points annually, to redeem extraordinary experiences, including future free nights with Marriott Bonvoy’s more than 30 hotel brands and 10,000 destinations globally.

BetMGM currently operates in 30 markets with mobile and retail offerings.

The post BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes, Sending Fans to New York for Sports Illustrated Beyond the Pitch Party appeared first on Americas iGaming & Sports Betting News.

Andy Masi

BetMGM Partners with Tailgate Beach Club

Published

3 weeks ago

May 19, 2026

GamingAmericas.com

betmgm-partners-with-tailgate-beach-club

BetMGM, a leading sports betting and iGaming operator, announced a partnership with Tailgate Beach Club at Mandalay Bay Resort and Casino, Las Vegas’ newest sports and pop culture dayclub. Conceived by Clique Hospitality Group, the sports and pop culture poolside paradise will feature the BetMGM brand, enhancing the way fans experience live sports in a one-of-a-kind destination on the Las Vegas Strip.

As part of the collaboration, BetMGM will have a prominent presence throughout Tailgate Beach Club, including an on-site activation team to introduce new players to the BetMGM app, along with digital and static signage featuring live odds displays. The venue will serve as a gathering place for BetMGM players, with watch parties centered on marquee matchups and major sporting events. The activation builds on BetMGM’s broader presence across the Las Vegas Strip, which includes nine retail Sports Books at MGM Resorts properties.

“Tailgate Beach Club’s mission of blending the energy of Las Vegas dayclubs and sports into a signature venue goes straight to the heart of BetMGM’s DNA — creating legendary moments players can’t get anywhere else. This opportunity allows us to deliver incredible memories for fans, introduce our product to new audiences, and reinforce our Las Vegas roots,” said Matt Prevost, Chief Revenue Officer at BetMGM.

Steps away from Allegiant Stadium, Tailgate Beach Club features heated pools, premium cabanas and more than 125 feet of LED screens to deliver a 360-degree viewing experience for up to 2000 guests. The venue combines live DJs, games, and a high-energy poolside atmosphere with game-day bites and beverages.

Tailgate Beach Club underscores Nevada’s central role in BetMGM’s strategy as the epicenter of its omnichannel advantage, uniting premier MGM Resorts destinations with a leading digital betting platform. Activating at a flagship Strip location where live entertainment and sports culture converge allows BetMGM to further strengthen its connection between in–venue experiences and online wagering.

“Tailgate Beach Club was built to bring that game day energy into a setting you can only find in Las Vegas. Partnering with BetMGM takes that experience to another level, giving fans more ways to engage with the action while enjoying the atmosphere, service and entertainment we’re creating at Tailgate,” said Andy Masi, Founder of Clique Hospitality.

The post BetMGM Partners with Tailgate Beach Club appeared first on Americas iGaming & Sports Betting News.

Almir Ribeiro

BetMGM Brazil hires veteran journalist to lead government relations

Published

4 weeks ago

May 11, 2026

GamingAmericas.com

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.