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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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PopOK Gaming Launches New Slot Games: Genie Fortune and Rico Rhino

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PopOK Gaming continues expanding its online slot portfolio with the release of two new titles, Genie Fortune and Rico Rhino. Both games focus on multiplier-based gameplay and engaging mechanics designed to deliver rewarding spins and dynamic bonus features for players.

The latest additions showcase PopOK Gaming’s approach to modern slot design, blending accessible gameplay structures with high win potential and exciting bonus rounds. With magical themes, free spins, and multiplier boosts, Genie Fortune and Rico Rhino bring fresh entertainment to online casino players worldwide.

Genie Fortune: Magical Multipliers and Rewarding Spins

Genie Fortune invites players into a mystical world inspired by ancient legends and magical treasures. The game revolves around multiplier-driven mechanics that can significantly increase the value of winning combinations.

One of the standout features of Genie Fortune is the random multiplier system. Multipliers can appear outside the reels during gameplay and automatically increase the value of any winning combination on that spin. This random feature creates a sense of anticipation, as players never know when their next win might be amplified.

The slot offers a top win potential exceeding 1500x the original bet, giving players the opportunity to land substantial payouts when the right combination of symbols and multipliers align.

Free Spins Feature

The game also includes a Free Spins bonus round, which awards 8 free spins once triggered. During this feature, multiple multipliers can appear on the same spin, stacking together to increase the total payout.

This stacking mechanic can dramatically boost winnings and adds an extra layer of excitement to the bonus round.

Sure Win Stake Option

Another notable feature in Genie Fortune is the Sure Win Stake option. When activated, the player’s stake increases by five times the standard bet, but it guarantees a win on every base game spin.

This optional gameplay mode introduces a different strategy for players who prefer consistent wins rather than relying purely on chance.

By combining magical visuals, unpredictable multipliers, and special betting options, Genie Fortune offers a distinctive slot experience where each spin can produce surprising outcomes.

Rico Rhino: Power Multipliers and Big Potential

The second new release, Rico Rhino, expands PopOK Gaming’s popular Rico series. The game maintains a straightforward structure while emphasizing powerful multipliers that can turn ordinary spins into rewarding results.

Throughout the gameplay, multipliers can appear randomly, increasing the value of any winning spin. This mechanic keeps the action engaging while offering players the possibility of enhanced payouts at any moment.

Free Spins With Stronger Multipliers

Like Genie Fortune, Rico Rhino also features a Free Spins round, awarding 8 free spins when triggered.

During the bonus round, the multiplier system becomes even more powerful, with multipliers reaching up to 30x. This significantly increases the potential value of winning combinations and creates opportunities for bigger payouts.

Simple Gameplay With High Excitement

Rico Rhino focuses on accessibility and simplicity. The slot’s mechanics are easy to understand, allowing players to quickly engage with the game while still enjoying the thrill of multiplier boosts.

By combining a straightforward structure with high-value multipliers, Rico Rhino delivers a balanced experience suitable for both casual players and experienced slot enthusiasts.

PopOK Gaming Expands Its Slot Portfolio

The release of Genie Fortune and Rico Rhino reflects PopOK Gaming’s continued effort to deliver diverse and engaging slot experiences.

Both titles emphasize multiplier-driven gameplay, a feature that has become increasingly popular in modern online slots. By incorporating random multipliers, free spins, and flexible betting options, the developer provides players with multiple ways to enjoy the games.

The dual launch also highlights the company’s strategy of releasing games with distinct themes and mechanics while maintaining a consistent focus on rewarding gameplay.

Genie Fortune appeals to players who enjoy mystical themes and layered multiplier features, while Rico Rhino offers a simpler but equally exciting approach centered on powerful multipliers.

A Growing Trend in Online Slots

The online casino industry has seen a growing demand for slot games that feature dynamic multipliers and engaging bonus mechanics. Players are increasingly drawn to games where a single spin can evolve into a high-value win through multiplier boosts.

Both Genie Fortune and Rico Rhino align with this trend by delivering:

  • Random multiplier mechanics
  • Free spins bonus rounds
  • High win potential
  • Easy-to-understand gameplay

These elements help create engaging gameplay sessions while keeping players entertained with unpredictable results.

Conclusion

With the launch of Genie Fortune and Rico Rhino, PopOK Gaming introduces two new slot titles that highlight the excitement of multiplier-driven gameplay.

Genie Fortune delivers a magical experience with random multipliers, stacked bonuses, and a unique Sure Win Stake feature, while Rico Rhino focuses on powerful multipliers that can reach up to 30x during free spins.

Together, the two games demonstrate PopOK Gaming’s commitment to offering innovative slot experiences that combine strong themes, rewarding mechanics, and accessible gameplay.

As online casino players continue to seek new and engaging slot titles, Genie Fortune and Rico Rhino aim to capture attention with their exciting features and the potential for rewarding spins.

  • A related article about new slot game releases can be found on Gambling Insider: https://www.gamblinginsider.com/news
  • Example similar content: coverage of new slot launches and iGaming product releases by industry developers.

The post PopOK Gaming Launches New Slot Games: Genie Fortune and Rico Rhino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ACR POKER’S OSS XL SURPASSES $22 MILLION IN FIRST WEEK AS $5 MILLION GUARANTEED MAIN EVENTS BEGIN THIS WEEKEND

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Massive tournaments headline the next phase of the $50 million guaranteed OSS XL 

ACR Poker’s flagship Online Super Series (OSS) XL has already generated more than $22.3 million in prize pools during its first week, setting the stage for the series’ biggest tournaments yet as $5 million in Main Event guarantees begin this weekend.

Players can compete in three monster tournaments: two $2 million guaranteed Main Events ($2,650 and $1,050 buy-ins), and one $1 million guaranteed Main Event ($215 buy-in). Day 1A starts this Sunday, followed by Day 1B on Sunday, March 22nd and Day 2 on Monday, March 23rd.

“The OSS XL has already seen huge participation in the opening week, but Main Events are where the biggest moments happen,” said ACR Pro Chris Moneymaker. “With $5 million guaranteed in three tourneys starting this weekend, these events are always among the most exciting in the series.”

Running through Monday, March 23rd, the OSS XL features more than $50 million in guarantees and tournaments for players of all bankroll levels, with buy-ins starting from just $0.55.

One of the early highlights from the series so far was the first guaranteed edition of Phil’s Thrill XXL, which smashed its $1.5 million guarantee to generate a $2,060,000 prize pool from 206 entries, with ‘ErculePokero’ winning the title and $460,027. Adding extra excitement, ACR Pro Jon Pardy is tackling a 120-hour OSS XL grind that only ends early if he wins a tournament. The stream gives fans a behind-the-scenes look and features giveaways, on-stream challenges, and bankroll-building opportunities.

In addition to the Main Events, several multi-flight tournaments remain on the schedule. These include the $1.5 million guaranteed event ($630 buy-in), two $500,000 guaranteed Mystery Bounty events ($109 buy-ins), plus lower buy-in Mystery Bounty events with $150,000 guaranteed ($33 buy-in) and $100,000 guaranteed ($5.50 buy-in).

Players can also compete for additional prizes through ACR Poker’s OSS XL Leaderboard Contest, with $65,000 in cash and tournament tickets awarded across three tiers. The High Stakes ($104.50 buy-ins and above) will award a $15,000 top prize, while the Mid Stakes ($16.50 to $88 buy-ins) and Low Stakes (under $15 buy-ins) will award $7,500 and $4,000 for first place, respectively.

For further details on the OSS XL, visit ACRPoker.eu.

The post ACR POKER’S OSS XL SURPASSES $22 MILLION IN FIRST WEEK AS $5 MILLION GUARANTEED MAIN EVENTS BEGIN THIS WEEKEND appeared first on Americas iGaming & Sports Betting News.

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Canada’s Ontario iGaming Market in 2026: Advertising Rules, Self-Exclusion and the Next Phase of Regulation

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Ontario’s regulated iGaming market has moved beyond its launch phase. In 2026, the bigger story is no longer market entry. The focus has shifted to advertising oversight, player protection, and long-term regulatory credibility.

Ontario launched its competitive iGaming framework in April 2022. Since then, it has become one of North America’s most important regulated online gambling markets. Today, the province stands out not only for its size, but also for the way it is refining rules around compliance and responsible gambling.

Ontario’s iGaming market is entering a more mature phase

The market has already reached a significant scale. According to iGaming Ontario’s 2024–25 annual report, Ontario recorded C$82.7 billion in wagers and C$2.9 billion in gaming revenue during the fiscal year. The market also counted 50 operators and more than 2.6 million active player accounts by year-end.

These figures show that Ontario is no longer an early-stage regulatory experiment. It is now a large and established online gambling market. That matters because mature markets face different questions. At this stage, success depends not only on growth but also on visibility, public trust, and consumer safeguards.

Advertising rules are becoming more important in 2026

Advertising has become one of Ontario’s most important regulatory themes. Operators must still follow AGCO’s Registrar’s Standards for Internet Gaming, which set rules on marketing, inducements, and protections for vulnerable groups.

A new layer of scrutiny now adds to that framework. From January 1, 2026, Ad Standards began accepting complaints under the Canadian Code for Advertising of Gambling. This change gives the market a more visible complaint and review structure for gambling ads.

This development matters for several reasons. It strengthens accountability. It also shows that gambling regulation in Ontario is expanding beyond licensing and market launch. Regulators and industry bodies are now paying closer attention to how operators communicate with players and the wider public.

Ontario is entering a new stage of public scrutiny

As regulated gambling grows, public attention tends to shift. Early debate usually focuses on whether the market should exist. Later, it focuses on how the market behaves. Ontario now appears to be in that second phase.

Ad Standards’ review of gambling advertising complaints from April 2022 to April 2025 reflects that shift. In the early period, many complaints challenged the overall presence of gambling ads. Later, more complaints focused on the content of specific ads. Ontario also generated the largest share of gambling advertising complaints in the most recent period covered by the report.

That change suggests a more mature public conversation. People are no longer reacting only to the existence of the market. They are paying closer attention to how the market presents itself.

Centralized self-exclusion marks a major regulatory step

Ontario is also moving forward on player protection. In December 2025, the AGCO announced standards for a centralized self-exclusion program for iGaming. iGaming Ontario has also identified this initiative as a major strategic priority.

This step matters because it moves the system beyond operator-by-operator self-exclusion. A centralized model can create a more consistent approach across the regulated market. It also shows that Ontario is trying to strengthen responsible gambling tools in practical ways, not only through policy language.

For the industry, this signals a broader shift. Ontario is no longer focused only on market growth. It is also building the infrastructure needed for long-term oversight and safer play.

Strong channelization does not end the policy debate

Ontario has performed well on channelization. According to an AGCO-commissioned Ipsos study, 86.4% of Ontario online gamblers used regulated sites in early 2024. iGaming Ontario later reported an 83.7% channelization rate for 2024–25, noting that the change remained within the survey’s margin of error.

These numbers matter because they show that the legal market is attracting users away from unregulated alternatives. That is one of the main goals of a regulated online gambling model.

Still, strong channelization does not settle every issue. Once a regulated market captures most of the activity, expectations rise. Policymakers, media, and the public begin asking harder questions about advertising pressure, player safety, and the overall tone of the market. Ontario is now entering that stage.

Why Ontario matters for the wider Gaming Americas market

Ontario remains one of the clearest case studies in North America. It shows what happens after a successful market launch. Many jurisdictions still focus on legalization, licensing, and tax structure. Ontario shows that the next challenge is maintaining legitimacy once a market becomes large, visible, and commercially successful.

That is why Ontario deserves attention in 2026. The province is no longer trying to prove that regulated iGaming can work. It is showing how a mature market handles advertising oversight, public scrutiny, and stronger player protection measures.

The next phase is about credibility

Ontario’s next chapter will likely depend on balance. The market must remain competitive and attractive to operators. At the same time, it must show that regulation can support player protection and public confidence.

That makes Ontario one of the most important gambling regulation stories in North America this year. The biggest question is no longer whether the model works. The real question is whether the model can keep its credibility as the market grows and public scrutiny increases.

The post Canada’s Ontario iGaming Market in 2026: Advertising Rules, Self-Exclusion and the Next Phase of Regulation appeared first on Americas iGaming & Sports Betting News.

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