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.”

European Gaming Congress 2024 (Warsaw, Poland)

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

Published

1 day 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

2 weeks 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.

BetMGM

BetMGM Unveils First Major Corporate Brand Repositioning with “Make it Legendary” Campaign

Published

2 weeks ago

September 2, 2025

GamingAmericas.com

BetMGM, a leading sports betting and iGaming operator, unveiled the next evolution of its brand in collaboration with leading independent ad agency Highdive. The refreshed brand identity highlights BetMGM’s dynamic entertainment ecosystem — one that unlocks a world of possibilities, elevated experiences and exceptional hospitality. Bringing the brand to life, the new “Make it Legendary” campaign is anchored by a series of multi-channel spots featuring BetMGM’s newest brand ambassador: EMMY® Award and Golden Globe Award-winning actor Jon Hamm.

“This isn’t just a campaign — it’s a reimagining of what BetMGM stands for. We’re at the forefront of entertainment and gaming, with the spirit of Las Vegas woven into our DNA,” said Casey Hurbis, Chief Marketing Officer, BetMGM. “Our new positioning celebrates the thrill, spectacle and storytelling potential in every spin, play and reward. With Jon Hamm’s talent and universal appeal, he’s a natural fit to represent the refined essence of our brand.”

Highdive worked hand-in-hand with BetMGM’s creative team on the transformation, informed by extensive customer research. The first of six new spots is scheduled to premiere Saturday, Aug. 30 during college football games, with additional spots rolling out across TV, social, digital, out-of-home and BetMGM properties nationwide. Directed by two-time Directors Guild of America Director of the Year Noam Murro, the spots leverage Hamm’s charisma and storytelling charm to make every interaction feel like an elevated experience.

Hamm said, “BetMGM is all about style, and the ‘Make it Legendary’ campaign captures that energy. It’s witty, cinematic, and shows that betting with BetMGM is an unmatched experience.”

Mark Gross, co-founder and co-chief creative officer at Highdive, emphasized the strategic depth of the repositioning and said, “We didn’t just create ads — we built a creative platform that gives BetMGM a long-term advantage. This is about storytelling, connection and creating a brand that truly speaks to today’s players, not at them.”

As BetMGM continues to expand into new markets and introduce new features, responsible gaming remains a key focus. Additionally, BetMGM is proud to provide resources to help customers play responsibly including GameSense, an industry leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation. Through the integration within BetMGM’s mobile and desktop platforms, customers can receive the same GameSense experience they have grown to rely on at MGM Resorts properties nationwide. This complements BetMGM’s already existing responsible gambling tools which serve to provide customers with an entertaining and safe digital experience.

Gambling problem? Call 1-800-GAMBLER (Available in the US), 877-8-HOPENY or text HOPENY (467369) (NY)1-800-327-5050 (MA), 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR) 21+ only. Please Gamble Responsibly.

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