Latest News

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.

Related Topics:latest-news Press Releases

Up Next

Inspired Announces Partnership With Kambi To Provide Virtual Sports Offering To The Kambi Sportsbook

Don't Miss

Super Bowl – how have providers approached the 2024 edition?

Bjørnar Heggernes Chief Commercial Officer at The Mill Adventure

Navigating the Dutch frontier

Published

37 minutes ago

May 18, 2026

Wladimir P.

Following the recent launch of Winz.nl, powered by The Mill Adventure (TMA), we sat down with Bjørnar Heggernes, Chief Commercial Officer at The Mill Adventure, to discuss how technology, true partnerships and player-centric innovation are the keys to succeeding in the Netherlands and beyond.

Powering a new brand in a regulated market like the Netherlands is often seen as a compliance minefield. How does TMA help a partner like Winz.nl navigate these complexities while maintaining a focus on growth?

Bjørnar Heggernes: It is correct that the Dutch market is one of the most rigorous and demanding in the world. For a new brand, the technical overhead of meeting KSA standards, ranging from CRUKS (the central player exclusion register) integration to complex reporting, can be very difficult to overcome.

Our philosophy is centred around a compliance-first approach. We support complex regulated markets through configurable, jurisdiction-specific workflows. This means the heavy lifting of regulatory logic is handled at the core platform level. For the Netherlands, this includes localised onboarding, responsible gaming automation, CRUKS and CCBR integrations, vault reporting, and intervention controls.

For Winz.nl, this was critical. We provided the technical and compliance infrastructure required for the Dutch market, allowing them to move from licence acquisition to a full launch with total confidence.

With recent warnings from the KSA chair regarding the growth of the black market, there is a clear need for better channelisation. How can regulated brands use innovation to lure players away from illegal sites without resorting to aggressive tactics?

BH: To improve channelisation efforts, the regulated offer must be the superior choice and not just the compliant one. Through our AI-driven SmartLobbies, we automate the casino experience to ensure players see the content they actually enjoy in real-time. Another real game-changer for channelisation is our loyalty framework, exemplified by Winz.nl’s WinClub. It replaces traditional, operator-driven bonus mechanics with a player-initiated model where players earn points and choose their own rewards from a catalogue. It’s transparent, it aligns with responsible gambling principles, and it builds genuine trust. When a player feels in control and is presented with a comprehensive experience that is tailored to them, the unregulated alternative loses its appeal.

We often hear about the hold that legacy operators have on market share. Why is the partnership between an operator and a platform provider the deciding factor for a new brand’s survival?

BH: In today’s B2B landscape, a platform provider must be a strategic growth partner. Large-scale operators can be slowed down by massive, multi-layered infrastructures that make rapid pivoting difficult. Operator groups like Orange Gaming succeed because they are agile. Our partnership works because we provide the technical flexibility and regulatory infrastructure needed to support a differentiated brand while maintaining strong compliance controls. When a platform is modular, the operator can adapt to a sudden regulatory change or a shift in player appetite in days, not months. That speed-to-market is a crucial way to carve out share in a highly competitive regulated market.

How does a technologically advanced platform, one that utilises AI and real-time Business Intelligence (BI), tangibly impact an operator’s bottom line?

BH: It comes down to operational efficiency. Many established brands have massive internal teams manually managing lobbies and CRM campaigns, whereas our platform automates these manual processes. By using real-time BI and AI, a brand can identify and serve niche segments very effectively. For example, our SmartLobbies solution ensures the gaming content is relevant to the individual, which increases retention and Lifetime Value (LTV). We want our partners to make quicker, smarter decisions based on live data. In the Dutch market, where margins are tight and competition is fierce, that level of automation can make all the difference in terms of sustained profitability.

The post Navigating the Dutch frontier appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

1spin4win

1spin4win presents Lucky 1spin4win Hold and Win to mark its 5th anniversary

Published

3 days ago

May 15, 2026

Wladimir P.

1spin4win-presents-lucky-1spin4win-hold-and-win-to-mark-its-5th-anniversary

On May 14, 2026, 1spin4win reached a significant milestone — five years on the iGaming market. The anniversary motto, The Gold Standard of Classic Slots, reflects the studio’s evolution into a recognized name in the classic slot niche, built on years of industry expertise and commitment to delivering authentic gambling experiences.

Today, its portfolio features more than 200 games combining timeless appeal, advanced mathematics, and strong performance. In 2025, 1spin4win achieved a 52.06% increase in bet count and a 56.62% rise in GGR compared to 2024. This growth has helped the provider earn the trust of over 1,000 global operators, including leading brands such as SOFTSWISS, EveryMatrix, Alea, SoftGaming, Digitain, and BetConstruct.

As part of the milestone celebration, 1spin4win introduces Lucky 1spin4win Hold and Win, a special slot highlighting the studio’s landmark titles and renowned characters. Alongside traditional fruit, bells, and sevens, the colorful 3×3 grid features Wild symbols shaped as red bezel-set diamonds. When activated, they illuminate the “5 Years” sign, reinforcing the game’s anniversary theme.

The celebratory atmosphere continues through the slot’s rewarding features. Landing nine identical symbols doubles the win, while three or more Coins trigger the exciting Hold and Win Bonus round. With three starting respins, players get the chance to claim two festive Jackpots — the x100 Minipot Coin and the x1000 Megapot.

To mark the 5-year anniversary, 1spin4win is also launching special promotional campaigns in collaboration with Olymp and Selector. To give players additional opportunities to join the celebration, the partners will distribute exclusive promo codes, which will also be available to the registered users of the provider’s Players Room platform.

Olga Hlukhovskaya, Business Development Director at 1spin4win, commented, “Five years in the industry is an important testament to how far 1spin4win has come. Since 2021, we’ve grown into an acknowledged iGaming brand trusted by top global companies. Looking ahead, we plan to keep expanding across African and Latin American markets, deepen our relationships with regional operators, and further strengthen our presence in Europe. For us, this anniversary is not only about celebrating past achievements, but also about building the next stage of 1spin4win’s journey.

Olga Bogdanova, Art Director at 1spin4win, shared, “Lucky 1spin4win Hold and Win is dedicated to the 1spin4win 5th anniversary in the casino industry. The game’s design brings together iconic characters and signature symbols from our previous releases, well-known to both our players and partners. The result is a vibrant product featuring engaging Hold and Win mechanics and the recognizable 1spin4win classic style. We invite everyone to join the celebration of our anniversary, test their luck in the slot, compete for festive jackpots, and revisit their favorite 1spin4win games!”

About 1spin4win

1spin4win is an established game provider founded in May 2021 by ambitious developers with over 15 years of experience in the gambling industry. Since its inception, the company has expanded its portfolio to include over 200 classic online slots, all characterized by quality mathematics, transparent mechanics, and well-balanced gameplay — key factors that drive strong player retention. The studio aims to release an average of four new games each month in 2026 and offers effective promotional tools for casino operators to help them enhance player loyalty.

The post 1spin4win presents Lucky 1spin4win Hold and Win to mark its 5th anniversary appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Games

Stake releases Zoo casino game: a fast, multiplayer Stake Original where players bet on the wild side

Published

3 days ago

May 15, 2026

Wladimir P.

stake-releases-zoo-casino-game:-a-fast,-multiplayer-stake-original-where-players-bet-on-the-wild-side

A new live-round Stake Original where every player bets on the same outcome – six animals, a 20-tile track, three results per round, and wins up to 1,000x in play.

Stake, the world’s largest online casino and sportsbook, has today launched its Zoo casino game, a new multiplayer Stake Original that brings every player into the same live round to bet on six animals across a 20-tile track. Available worldwide on Stake, Zoo is the latest title to join the growing Stake Originals collection.

Zoo takes the shared-round excitement that has made games like Crash a Stake Originals staple and pairs it with simpler, more visual decision-making. Each round, six animals – Lion, Cheetah, Elephant, Crocodile, Rhino, and Penguin – appear on a 20-tile circular track, with each animal showing up a different number of times to create clear volatility tiers and payout differences across the board. Players have ten seconds to back one or more animals before the track spins up and locks in three result tiles in the center of the screen.

Zoo launches with a 98% RTP, a top multiplier of 1,000x per round, and full auto bet controls that let players preset their wager amount, number of rounds, and chosen animals. Designed as a simpler, more visual evolution of popular casino games like Roulette and Sic Bo, Zoo strips back the complexity without compromising on depth. The rarer the animal, the bigger the reward – Lion and Cheetah each appear only once on the track, Elephant and Crocodile twice, Rhino four times, and Penguin ten, giving players a clear read on the risk and payout of every play. With three result tiles drawn each round, players win based on how many times their chosen animal lands across all three.

“Zoo is exactly the kind of game we want Stake Originals to be known for – fast, simple to pick up, and genuinely fun to play in an online setting filled with other players. There’s real tension in watching the three tiles land for the whole table at once, and we think players are going to find their favourite animals pretty quickly,” said Stake’s Chief Marketing Officer, Akhil Sarin.

Zoo joins a growing line-up of in-house multiplayer game creations on Stake Casino, with the goal of keeping every Stake Original easy to learn, quick to play, and a little bit different from anything else in the iGaming industry.

About Stake

Stake is the world’s largest online casino and sportsbook, attracting over 100 million monthly visits across its global domains – more than any other iGaming platform on earth. Founded in 2017, Stake attracts over 80 million monthly visits and processes more than 100 billion bets per year. Stake is renowned for its innovation in crypto wagering and its growing expansion into regulated local-currency gaming markets, including Italy, Denmark, Brazil, Colombia, and Peru. The brand boasts an extensive global sponsorship portfolio including Drake, X Games, Everton Football Club, and the UFC.