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

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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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BMM INNOVATION GROUP BRINGS THE WORLD TOUR TO SBC SUMMIT AMERICAS JUNE 9-11 IN FORT LAUDERDALE, FLORIDA

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BMM Innovation Group (“BMM”, “BIG Group”, or “BIG”), a global technology company providing compliance testing, cybersecurity, and training solutions for the regulated global gaming industry, today announced its participation in the SBC Summit Americas 2026 June 9-11 at the Broward County Convention Center in Fort Lauderdale, Florida.

BIG will exhibit in Booth No. 730, where the Company will showcase its leading testing, certification, cybersecurity, and training solutions for North America and Latin America.

In Latin America, BMM plays a leading role in gaming testing and certification, with offices in Argentina, Brazil, and Peru. In North America, the Company supports the growing iGaming and sports betting market with its full portfolio of testing, certification, cybersecurity, and compliance-grade training solutions.

Representing BIG’s global brands, BMM Testlabs, BIG Cyber, and RG24seven Virtual Training, the team will feature multilingual business development experts speaking English, Spanish, and Portuguese to support suppliers, operators, and regulators across the Americas.

Attendees visiting the Company’s Booth No. 730 can learn more about BMM’s expert testing and certification services, cybersecurity solutions, and compliance-grade virtual training designed to help gaming companies launch faster, stay secure, and meet regulatory requirements across global markets.

BMM’s International iGaming Leader, María Romero de Alba, said, “SBC Summit Americas is one of the most important gatherings for the gaming industry across North and Latin America, and we’re excited to bring the BMM World Tour to Fort Lauderdale. As iGaming continues to grow across the region, BMM is helping suppliers expand into new markets with trusted compliance, cybersecurity, and training solutions.”

BMM Innovation Group has also been shortlisted for “Compliance Solution of the Year” at the SBC Awards Americas 2026, which will be held June 10 in conjunction with the conference.

To book a meeting with the BIG team at SBC Summit Americas 2026, visit BMM World Tour.

 

The post BMM INNOVATION GROUP BRINGS THE WORLD TOUR TO SBC SUMMIT AMERICAS JUNE 9-11 IN FORT LAUDERDALE, FLORIDA appeared first on Americas iGaming & Sports Betting News.

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Vitor Paulin ends cycle at Luck.bet with data-driven transformation, new website, and new campaign featuring Caio Castro as legacy

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Vitor Paulin ends cycle at Luck.bet with data-driven transformation, new website, and new campaign featuring Caio Castro as legacy.

The executive leaves the operator as of June 1 after leading the structuring of a team of more than 40 professionals and delivering the company’s highest results in Turnover and GGR.

Vitor Paulin, Chief Marketing & Growth Officer (CMGO) at Luck.bet, is ending his cycle at the operator as of June 1, 2026. During his tenure leading the company’s marketing operations, the executive drove a complete transformation that integrated Brand, Performance and Media, Affiliates, Influencers, CRM, PR, Product, and BI/Analytics into a single customer journey — Acquisition, Retention, Monetization, and Recovery.

The results were significant throughout his entire period at the company, with a marked acceleration in the second half of 2025 when he implemented the data-driven methodology: +54% Turnover, +49% GGR, +26% monthly active users, +22% average ticket size, +22% First Time Deposit (FTD), and +16% conversion rate from Registration to FTD.

Vitor leaves Luck.bet with three structural deliverables to the company: the completion of a data-driven culture implementation, a new operator website, the new brand campaign featuring Caio Castro — produced under his leadership and scheduled to launch in the coming weeks — and a new multidisciplinary team of more than 40 professionals structured in squads and operating under a data-driven culture focused on performance and customer-centricity.

“Throughout my time at Luck.bet, we led a complete marketing transformation. In the second half of 2025, with the data-driven methodology fully in place, we achieved +54% Turnover, +49% GGR, +26% monthly active users, and +22% average ticket size. It was a collective effort supported by a multidisciplinary team of more than 40 professionals, including new hires.

I thank Ivan Dutra and the entire Luck.bet team for the partnership and trust throughout this cycle,” said Vitor Paulin, former CMGO of Luck.bet.

Reflecting on his legacy at the operator, the executive highlights the integration between departments:

“The biggest legacy is structural: we transformed the operation into a data-driven marketing machine focused on results, integrating Brand, Performance, Affiliates, Influencers, CRM, PR, Product, and BI/Analytics into a single journey — Acquisition, Retention, Monetization, and Recovery.

I leave with the migration to the new Luck.bet website completed, the upcoming campaign featuring Caio Castro ready to go live in the coming weeks, and a team of more than 40 professionals consolidated and operating. The house is organized for the next cycles,” he added.

Regarding next steps, the executive plans a short break for strategic reflection before starting a new cycle: “I will take a short window for perspective before the next executive cycle.

In the coming weeks I will be open to conversations with market leaders — my main focus remains iGaming, with a natural extension into companies born digital such as fintechs, retail-techs, e-commerce, and the new economy in regulated markets in Brazil, Latin America, and Europe.

And who knows, I may also venture into entrepreneurship — I have no shortage of ideas for new products!” he concluded.

The post Vitor Paulin ends cycle at Luck.bet with data-driven transformation, new website, and new campaign featuring Caio Castro as legacy appeared first on Americas iGaming & Sports Betting News.

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AGS celebrates 10 straight years as a best and brightest company to work for in the nation

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For the 10th consecutive year, global gaming supplier AGS announced it has been named one of the Best and Brightest Companies to Work For® in the Nation.

Presented by the National Association for Business Resources (NABR), the Best and Brightest Companies to Work For awards are not pay-to-play. Instead they are based on an independent, research-driven assessment of company practices and employee survey results.

Ten straight years places AGS in rare company by any measure; in gaming, it’s unprecedented.

No other gaming manufacturer has been recognized in the program or been awarded this designation, making this recognition a standout achievement for the team and the industry.

“Ten years of this honor is a testament not to us as a company, but to the remarkable individuals who power everything we do,” said David Lopez, President and Chief Executive Officer of AGS.

“We’ve built something truly special here – a people-first culture of long-term excellence that I’m incredibly proud of and that continues to propel us forward.”

Companies are evaluated across a comprehensive set of criteria that reflect the employee experience.

These include compensation and benefits, engagement and retention, education and development, achievement and recognition, civility and inclusion, leadership, communication, community initiates and corporate responsibility, and overall workplace well-being.

AGS earned high marks for its focus on key areas such as benefits, communications and shared vision, civility and inclusion, and employee enrichment, engagement and retention – surpassing the Best and Brightest benchmark, which reflects the median score of other participating companies.

In 2026, only 19 other companies in the country reached the 10-year mark, and just 46 organizations in total have been recognized for more than 10 years.

“What makes this recognition meaningful is that it’s based on how our employees truly feel,” said Kim Nasuta, Senior Vice President of Human Resources at AGS.

“Ten years in a row speaks to the consistency of our values and how deeply embedded they are in how we hire, support, and grow our people.”

This milestone reflects a decade of AGS’ consistent, employee-first culture – an accomplishment that is difficult to sustain year after year.

Ten years through real change is even harder. In that stretch, AGS doubled its employee count and office footprint, tripled its game studios, and expanded from two countries to ten.

The company looked different almost every year. The culture didn’t.

AGS was also awarded the same honor in the Atlanta market, which reflects the local impact, while the national honor acknowledges AGS’ broader commitment to culture across its U.S. footprint, which includes offices and game studios in Las Vegas, Reno, Scottsdale, Austin, and Oklahoma City.

The Metro Atlanta offices – home to many of the company’s R&D, engineering, and operations teams – continues to be a foundation of the Company’s innovation and culture.

Additionally, AGS supports a vast network of remote sales and field service employees located near customer operations throughout the country – extending the Company’s culture of connection and performance beyond physical offices. AGS also has a strong global presence with teams located in eight countries outside of the U.S.

This latest recognition follows AGS also being named to the 2026 USA TODAY Top Workplaces USA list for a second year in a row, solidifying its position as a standout employer in the gaming industry and beyond.

The post AGS celebrates 10 straight years as a best and brightest company to work for in the nation appeared first on Americas iGaming & Sports Betting News.

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