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BETMGM FY23 UPDATE: FY23 NET REVENUE FROM OPERATIONS OF $1.96 BILLION AT TOP END OF GUIDANCE

Published

2 years ago

February 9, 2024

betmgm-fy23-update:-fy23-net-revenue-from-operations-of-$1.96-billion-at-top-end-of-guidance

BetMGM, LLC (“BetMGM”), one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International (NYSE: MGM) (“MGM Resorts”) and Entain plc (LSE: ENT) (“Entain”) is today providing an update on performance for FY 2023.

BetMGM delivered a strong FY 2023 financial performance (based on unaudited results)
- Net revenue from operations grew 36% year over year to $1.96 billion¹, at the upper-end of $1.8-$2.0 billion guidance range²
  - Same-state growth in net revenue from digital operations of 14%
  - Key metrics across both iGaming and Online Sports Betting improved year over year, including average monthly actives, FTDs, hold percentages, bonus levels, NGR per active, and CPAs³
- EBITDA positive in the second half of 2023 with expected FY 2023 EBITDA loss of approximately $67 million⁴
Established as a leading operator across North America, live in 28 markets with access to 49% of adult population⁵
- Four new markets launched during the year: Ohio (online and retail), Massachusetts (online and retail), Puerto Rico (online) and Kentucky (online and retail)
- 14% market share in Sports Betting and iGaming in the U.S. and 22% in Ontario⁶
- Secured market access with Charlotte Motor Speedway ahead of expected March 2024 launch of newly legalised sports betting market in North Carolina, pending regulatory approval
Further operational progress supported by technology, product and capability enhancements, positions BetMGM to drive growth going forward
- Seamless execution of single account single wallet across 21 markets ahead of the 2023 NFL season
- Enhanced sports betting experience with improved speed⁷, broader market coverage and new differentiated bet types
- New in-house and exclusive games, including Dual Play Roulette, as well as largest progressive jackpots underpinning market leading iGaming offering
December 4th BetMGM business update set out strategic roadmap to drive growth in 2024
- Expanding the depth and breadth of our sports offering by leveraging Angstrom’s sophisticated modelling to support innovative and original products, including player-popular Same Game Parlay (“SGP”), SGP+ and new LIVE SGP products
- Continue to deliver market-leading and engaging gaming experiences that are more personalized and differentiated, including exclusive and MGM-branded content
- Increasingly investing in marketing and player acquisition as sports product and player retention continue to improve
- Unlocking BetMGM’s unique omnichannel advantages, particularly in Las Vegas, Nevada
  - Launched new improved app in January with single wallet functionality expected later in 2024
  - Leveraging Las Vegas sports teams and tentpole events, for example BetMGM’s first Big Game commercial featuring Tom Brady, Wayne Gretzky and Vince Vaughn
Reiterating guidance from December 2023 business update of targeting approximately $500 million of EBITDA in 2026
Recognized as Digital Operator of the Year by Global Gaming Awards, Online Casino of the Year by American Gambling Awards, and Casino Operator of the Year by EGR North America and SBC Awards North America.
Ongoing commitment to industry leadership in player safety and responsible gaming
- Secured five-year extension with GameSense program, providing player tools and capabilities to play responsibly
- Partnered with nine NFL teams to promote responsible gambling in stadiums during games
- Piloted the first of its kind program with Kindbridge Health to evaluate efficacy of offering self-excluded individuals’ referrals for problem gambling treatments

Adam Greenblatt, CEO of BetMGM, commented:

“Our performance in 2023 demonstrates our commitment to delivering on our promises. We were able to achieve strong organic growth, while executing against key strategic initiatives that lay the foundation for 2024 and beyond. The attainment of EBITDA profitability over the last three quarters of 2023 validates the effectiveness of our business model and provides the basis from which to invest further in expanding our sports offering through the integration of Angstrom and leveraging our largely untapped Las Vegas omni-channel advantages. With this comprehensive roadmap in place, we can focus on driving accelerated player acquisition and retention and strengthening our current market position. This clear strategic direction underpins our confidence in achieving our targets and building long-term, sustainable value for shareholders.”

Notes
(1)	FY2023 net revenue for BetMGM on a GAAP basis is expected to be approximately $1,920 million, which includes approximately $64 million related to Nevada MGM 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)	FY2023 non-GAAP net revenue guidance established in January 2023
(3)	Key metrics include average monthly actives, first time depositors (“FTDs”), hold percentages, bonus levels, net gaming revenue per active (“NGR per active”), and cost per acquisition (“CPAs”)
(4)	BetMGM has not completed its financial closing procedures for the three months and year ended December 31, 2023 and actual results can differ materially from these estimates. In addition, BetMGM’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to these preliminary estimates. During the course of the preparation of BetMGM’s audited financial statements, BetMGM and its auditors may identify items that would require material adjustments to these estimates. As a result, these estimates constitute forward-looking statements and, therefore, investors are cautioned that they are subject to risks and uncertainties, including possible adjustments.
(5)	BetMGM operates iGaming and Online Sports Betting in five markets and Sports Betting only (combined online and retail) in 23 markets.
(6)	Market share for last three months ending November 2023 by GGR including only U.S. markets where BetMGM was active; internal estimates used where operator-specific results are unavailable. Ontario market share reflects the three-month period through December 2023.
(7)	Google Core Web Vitals validate that BetMGM in now one of the fastest apps in the U.S.

Forward-looking statements:

This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, results of our operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. Examples of these statements include, but are not limited to, BetMGM’s expectations regarding its financial outlook (including EBITDA guidance). These forward-looking statements include all matters that are not historical facts. By their nature, these statements involve risks and uncertainties since future events and circumstances can cause results and developments to differ materially from those anticipated. Any such forward-looking statements reflect knowledge and information available at the date of preparation of this document. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the significant competition within the gaming and entertainment industry; BetMGM’s ability to execute on its business plan; changes in applicable laws or regulations, particularly with respect to iGaming and online sports betting; BetMGM’s ability to manage growth and access the capital needed to support its growth plans; and BetMGM’s ability to obtain the required licenses, permits and other approvals necessary to grow in existing and new jurisdictions. In providing forward-looking statements, Entain is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), Entain undertakes no obligation to update or revise any such forward-looking statements. Nothing in this document should be construed as a profit forecast. Entain and its directors accept no liability to third parties in respect of this document save as would arise under English law.

Non-GAAP Financial Information:

This press release includes net revenue from operations and estimated EBITDA, which have not been prepared in accordance with GAAP. BetMGM believes this presentation, which it uses for its own analysis of operations, is useful in that it reflects the true economic performance of the business. If BetMGM presented net revenue from operations in accordance with GAAP, then BetMGM would present the revenues associated with its Nevada digital and retail sports betting operations different, until such time as BetMGM is licensed as a Nevada gaming operator. Currently under GAAP, its calculation of Net Revenue would be on a basis net of operating costs, such that the GAAP reported Net Revenue would be lower than the Net Revenue reported herein, with Net Income remaining the same.

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RLCS Boston Major Becomes Most Watched Event in Rocket League History

Published

6 hours ago

February 25, 2026

Wladimir P.

rlcs-boston-major-becomes-most-watched-event-in-rocket-league-history

The Rocket League Championship Series (RLCS) Boston Major 2026 has officially become the most-watched event in Rocket League esports history, setting a new benchmark for global engagement and competitive excellence.

Held at Agganis Arena in Boston, the Major concluded with a thrilling all-French Grand Final, where Gentlemates defeated tournament favourites Team Vitality 4:2 to claim the first Major title of the 2026 season.

Record-Breaking Viewership Milestone

The RLCS Boston Major 2026 delivered unprecedented audience numbers:

Peak Viewers: 624,316 concurrent viewers
Average Viewership: Over 270,000 viewers
First RLCS event ever to surpass 600,000 concurrent viewers

This milestone represents a 33.3% increase over the previous all-time peak recorded at the 2022–23 RLCS World Championship, highlighting sustained year-over-year growth and expanding global interest in Rocket League esports.

The event’s performance reinforces RLCS as one of the fastest-growing competitive circuits in modern esports.

A Grand Final Worthy of the Record

The Boston Major culminated in a high-stakes French showdown between Gentlemates and Team Vitality. The 4:2 victory secured Gentlemates’ first Major trophy of the season and signaled a shift in competitive power dynamics heading deeper into 2026.

The all-French final further amplified international audience engagement, particularly across European broadcast markets, contributing significantly to the event’s record-breaking concurrent viewership.

Global Broadcast Reach and Multi-Language Coverage

Beyond peak numbers, the Boston Major showcased:

Multi-language broadcast streams
Cross-platform digital distribution
Strong in-arena attendance
Expanded regional fan engagement

Hosted in front of thousands of live fans at Agganis Arena, the event combined traditional arena esports spectacle with robust online streaming performance — a formula that continues to fuel RLCS’s accelerating global momentum.

What This Means for Rocket League Esports

The 2026 Boston Major marks a defining moment for the RLCS ecosystem:

Sustained Global Growth – The consistent upward trend in viewership confirms Rocket League’s staying power within the esports landscape.
Mainstream Momentum – Breaking the 600K peak threshold positions RLCS among elite-tier esports events globally.
Competitive Depth – The diversity and intensity of international competition continue to elevate the broadcast product.
Commercial Validation – Record audience metrics strengthen sponsorship, media rights, and long-term circuit investment potential.

As the 2026 season progresses, the Boston Major sets a new performance benchmark that future Majors and the World Championship will aim to surpass.

The post RLCS Boston Major Becomes Most Watched Event in Rocket League History appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Competitive Poker

David Lappin Named PokerStars Ambassador

Published

6 hours ago

February 25, 2026

Wladimir P.

david-lappin-named-pokerstars-ambassador

PokerStars has officially named Irish poker professional David Lappin as the winner of its inaugural Live League ambassadorship, marking a major milestone for both the seasoned pro and the global poker brand. The announcement follows the conclusion of the 2025 PokerStars Live League season, where players competed across European events for leaderboard supremacy and a coveted ambassador position.

Lappin, widely respected as a poker player, writer, commentator, and industry voice, now joins the prestigious PokerStars ambassador roster after emerging as the standout candidate among top leaderboard performers.

A Season-Long Path to Representation

The 2025 PokerStars Live League introduced a structured, merit-based pathway for players to earn ambassador status. Competitors accumulated points across three buy-in-based leaderboard tiers — High, Medium, and Low — throughout major European live events.

Qualifying tournaments included stops on the renowned European Poker Tour (EPT), regional PokerStars Open events, and even the iconic Irish Poker Open, a long-standing highlight of the European poker calendar.

At the end of the season:

Top 30 players (Top 10 per tier) earned the right to audition.
A PokerStars judging panel selected the ultimate ambassador.
Lappin was chosen for his consistency, credibility, and player-first approach.

This structure reflects PokerStars’ growing emphasis on meritocracy and community representation rather than purely promotional appointments.

Player-Led Representation at the Core

As a PokerStars Ambassador, Lappin’s role extends beyond brand visibility. His focus will center on:

Competing in flagship EPT Main Events
Participating in PokerStars Open stops
Promoting online-to-live qualification routes
Engaging directly with the player community

PokerStars has made clear that this ambassadorship is rooted in authentic player representation. Lappin has long advocated that ambassadors should serve as bridges between operators and players — not simply brand spokespeople.

His reputation as a thoughtful commentator and outspoken industry analyst positions him as a natural intermediary between grassroots competitors and event organizers.

Cédric Billot, Associate Director of Live Events Operations at PokerStars, emphasized Lappin’s longstanding presence on the circuit and deep understanding of the live ecosystem. According to Billot, Lappin’s authenticity and alignment with PokerStars values made him a “natural fit” for the role.

Strengthening the Online-to-Live Pathway

A key component of Lappin’s ambassadorship will be highlighting PokerStars’ satellite ecosystem — a system allowing online players to qualify for major live tournaments at a fraction of the standard buy-in.

This online-to-live funnel remains central to PokerStars’ brand identity. By promoting satellite qualifiers and digital routes into live events, Lappin reinforces PokerStars’ commitment to accessibility and upward mobility within competitive poker.

For aspiring players, this messaging underscores an important truth: online grinders can convert modest investments into major live opportunities.

The 2026 PokerStars Live League Expansion

The announcement coincides with the launch of the 2026 PokerStars Live League season, which began at PokerStars Open Campione.

Key highlights of the 2026 league include:

€157,500 in PokerStars LIVE credits awarded
Prizes distributed across High, Medium, and Low tiers
A new €100,000 live freeroll at the first EPT stop of 2027
Expanded rewards structure benefiting top 30 finishers in each tier

The second stop of the 2026 season is currently underway at EPT Paris, offering players additional opportunities to earn leaderboard points.

League standings and live updates are available through the PokerStars Live app, further integrating digital tracking with live competition.

Strategic Implications for PokerStars

Lappin’s appointment reflects broader strategic shifts in the live poker landscape:

Community Credibility Over Celebrity Marketing
PokerStars continues prioritizing ambassadors with deep player roots rather than purely mainstream appeal.
Reinforcing European Live Dominance
By strengthening the Live League and EPT ecosystem, PokerStars consolidates its hold on Europe’s premier live poker circuits.
Retention Through Gamification
The leaderboard structure encourages year-long engagement, incentivizing consistent participation rather than one-off tournament attendance.
Expanding Reward Distribution
The 2026 freeroll addition broadens prize accessibility, rewarding loyalty across all buy-in levels.

Why This Matters for the Poker Industry

The poker industry has increasingly leaned into hybrid engagement models — combining online platforms, live tours, community ambassadors, and digital content ecosystems.

Lappin’s appointment symbolizes this evolution. As a hybrid figure — competitor, analyst, content creator — he embodies the modern poker ambassador archetype: credible, vocal, accessible, and community-oriented.

The Live League format itself may also influence competitor operators to rethink how ambassador programs are structured, shifting toward performance-based selection models.

The post David Lappin Named PokerStars Ambassador appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

Plaza Hotel & Casino debuts the only live streaming service in Las Vegas to broadcast the excitement of its smoke free gaming area

Published

6 hours ago

February 25, 2026

GamingAmericas.com

plaza-hotel-&-casino-debuts-the-only-live-streaming-service-in-las-vegas-to-broadcast-the-excitement-of-its-smoke-free-gaming-area

Three table games also added to the first and only smoke free gaming space in downtown Las Vegas

To highlight the excitement of its smoke free gaming area, the first and only one in downtown Las Vegas, the Plaza Hotel & Casino has partnered with Vegas Live Casino Network to launch the only live streaming channel dedicated to broadcasting casino play in Las Vegas, seven days a week.

The Plaza has long promoted social media posting by guests and created the smoke free gaming area as a social media friendly space with vibrant backdrops and copyright free music. Now, the Plaza is partnering with Vegas Live Casino Network to be the first Las Vegas property with its own dedicated YouTube channel to broadcast the excitement players are having in its smoke free gaming space at https://www.youtube.com/@VegasLiveCasinoNetwork.

Thanks to the new broadcast stream from Vegas Live Casino Network, guests will be able to subscribe and share the video stream of themselves playing the slots machines or the new table games with friends and family to show the fun they are having at the Plaza.

The broadcast will stream live Sunday through Thursday from 1 p.m. to 7 p.m. and Fridays and Saturdays from 6 p.m. to midnight. To learn more about the live streaming service, watch the launch video for the Vegas Live Casino Network at the Plaza at: youtube.com/watch?v=PfboeigVH_c.

The smoke free gaming space is home to dozens of the industry’s most popular slot machines, and now, the Plaza also added three table games, including blackjack, baccarat, and European roulette. Blackjack will offer bets starting at $25 to $2,000; baccarat will start bets at $25 up to $3,000; and European roulette will be a $200 progressive table. Outside bets: even money is $3,000 maximum and 2-1 is $1,500 maximum bet. The table games will be open from 6 p.m. to midnight daily.

To learn more about the new offerings in the Plaza’s smoke free gaming area visit: plazahotelcasino.com/casino/smoke-free-slots/.

The post Plaza Hotel & Casino debuts the only live streaming service in Las Vegas to broadcast the excitement of its smoke free gaming area appeared first on Americas iGaming & Sports Betting News.