Latest News
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
- 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
- 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.”
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Notes |
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(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.
Barcelona
Level Up in Barcelona: N1 Partners Puzzle Promo Grand Final Recap
The N1 Puzzle Promo reached its highly anticipated conclusion in Barcelona, where N1 Partners hosted a spectacular grand final that quickly became one of the most talked-about events of iGB Affiliate Week. Held after the first day of the conference, the evening marked the official close of a year-long campaign that ran throughout 2025 and consistently engaged affiliates across the industry.
Designed as a large-scale finale, the event brought together a carefully curated audience of industry leaders, top-performing affiliates, and long-term partners. Demand exceeded expectations well ahead of time, with more than 2,000 registrations submitted and over 600 guests attending the closed-format celebration. The limited access and exclusive guest list helped create a sense of anticipation, positioning the event as a true highlight of the conference week.
First Impressions: Setting the Tone from the Start
From the moment guests arrived, the atmosphere set a cinematic tone. Paparazzi-style photographers welcomed attendees at the entrance, capturing arrival moments and immediately signaling that the night would be something special. Inside the venue, flight-attendant-inspired stewards guided guests through the space, reinforcing the event’s polished and immersive concept.

The venue itself was divided into multiple zones designed to balance entertainment and meaningful interaction. A signature cocktail bar served drinks crafted exclusively for the evening, while a dedicated VIP area offered a relaxed setting for private conversations, networking, and informal meetings that continued throughout the night.

When the Stage Took Center Stage
Live performances played a central role in shaping the energy of the evening. Rather than relying on a single format, the program unfolded through a dynamic sequence of acts that kept guests engaged from start to finish. High-energy dance performances set the pace early on, followed by unexpected contrasts, including classical compositions reimagined with a rock edge.

DJ sets bridged each segment, maintaining momentum and flow, while the appearance of the headline guest became a natural peak of the night. Carefully coordinated lighting and stage production elevated the experience, leaving a lasting impression long after the final performance ended.



As a personal finishing touch, guests were invited to visit a custom patch bar, where they could create and take home a unique souvenir commemorating their participation in the N1 Puzzle Promo grand final.
Honouring the Leaders of the N1 Puzzle Promo
At the heart of the evening was the award ceremony, dedicated to recognising the partners who defined the N1 Puzzle Promo throughout the year. N1 Partners highlighted affiliates who demonstrated consistent performance and strategic focus over time, securing top positions on the leaderboard through sustained effort rather than short-term spikes.
As the final results were announced on stage, the energy in the room was unmistakable. The winners shared their reactions moments after the ceremony, reflecting on the journey, the competition, and the significance of their achievements.
1st Place – Cash Splash

Main prize: Robinson R22 Beta II helicopter
The Cash Splash team shared their emotions following the announcement:
“The emotions are overwhelming—honestly at the highest level. The event itself was impressive, and winning the main prize among such strong peers feels truly incredible. For a long time, we were simply doing our job, and only closer to the end did we realise we could compete for first place and win the helicopter.
What mattered most was that this wasn’t just a promo or a prize. Throughout the campaign, it was clear that N1 Partners focus on long-term relationships and transparent partnership. We always understood what we were competing for, and that clarity was a huge motivation.”
2nd Place – Advertise.net

Prize: Aston Martin Aramco AMR24 F1 Simulator
Advertise.net reflected on their experience:
“The first emotion was pure excitement. Even reaching the top three already felt like a win. We worked on this for a long time, and seeing our company’s name on stage was incredibly emotional.
What stood out most was the transparency and fairness of the promo. We could track our results almost in real time and clearly understand how to influence the outcome. This wasn’t about luck—it was the result of real work.”
3rd Place – Traffic Squad

Prize: Rolex Sky-Dweller watch
4th Place: Seven Group
5th Place: Alfaleads Network
Each announcement was met with strong engagement from the audience, reinforcing both the competitive nature of the promo and the scale of its rewards. The ceremony underlined a core message of the campaign: long-term strategy, consistency, and commitment drive real success.
The Final Piece of a Year-Long Story
The N1 Puzzle Promo Grand Final was never intended as a standalone celebration. Instead, it served as the natural conclusion of a campaign that unfolded throughout the year. By combining immersive production, a clear narrative, and meaningful recognition of partner achievements, N1 Partners delivered a finale that felt both earned and deeply relevant to the affiliate industry.
Alexa Bond, Head of Affiliates at N1 Partners, shared her perspective on the campaign’s conclusion:
“The N1 Puzzle Promo Grand Final in Barcelona became the culmination of everything achieved throughout the year. Bringing our partners together to celebrate their results highlighted the commitment, consistency, and long-term effort behind this journey.
This finale was our way of showing that we’re not just working side by side, but building long-term partnerships based on trust and shared goals. Seeing our partners celebrate, share emotions, and connect with each other confirmed that we created something truly meaningful for the affiliate community.”

The event also attracted strong attention from industry media, with representatives from leading iGaming and affiliate outlets in attendance. Their presence extended the reach of the grand final beyond the conference floor and reinforced the broader industry relevance of the N1 Puzzle Promo.
As the night came to a close, the message was clear: the promo was ultimately about long-term collaboration, shared success, and celebrating achievements together within the iGaming community.
N1 Partners expressed their appreciation to all guests who attended and helped turn the N1 Puzzle Promo Grand Final into one of the most memorable moments of iGB Affiliate Week.
Be number one with N1 Partners.
The post Level Up in Barcelona: N1 Partners Puzzle Promo Grand Final Recap appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Barcelona
Level Up in Barcelona: N1 Partners Puzzle Promo Grand Final Recap
The N1 Puzzle Promo journey reached its culmination in Barcelona, where N1 Partners hosted a grand final event that became one of the standout events of the iGB Affiliate week. Taking place after the first day of iGB Affiliate in Barcelona, the evening marked the official conclusion of a year-long campaign that ran throughout 2025 and consistently engaged partners across the industry.
Designed as a large-scale finale, the event brought together a carefully selected audience of industry leaders, top-performing affiliates and long-term partners. Interest in the final exceeded expectations well in advance, with more than 2,000 registrations submitted and over 600 guests attending the closed-format celebration. Limited access and a curated guest list helped shape an atmosphere of anticipation and made the night one of the most discussed gatherings of the conference week.
Where the Final Began: First Moments of the Night
From the moment guests arrived, the tone of the evening was clear. Paparazzi-style photographers welcomed attendees at the entrance, capturing arrival moments and setting a cinematic pace for what followed. Inside, flight-attendant-inspired stewards guided guests through the venue.

Multiple zones were designed to balance entertainment and conversation. A signature cocktail bar served drinks created specifically for the night, while a dedicated VIP area offered a comfortable setting for private discussions, networking and informal meetings that continued throughout the evening.
When the Stage Took Over the Night
The stage program played a central role in shaping the atmosphere of the night. Rather than relying on a single format, the evening unfolded through a sequence of performances that kept guests engaged from start to finish. Energetic dance acts set the pace early on, followed by moments of contrast, including classical compositions reimagined in a rock-driven style.

DJ sets carried the momentum between performances, while the appearance of the event’s headline guest became a natural high point of the program. Combined with lighting design and stage production, the performances created an experience that stayed with guests long after the evening came to a close.

As a final personal touch, guests were invited to visit the custom patch bar, where they could take home a souvenir marking their participation in the N1 Puzzle Promo grand final.



Celebrating the Leaders of N1 Puzzle Promo
At the core of the evening stood the award ceremony, recognising the partners who defined N1 Puzzle Promo throughout the year. N1 Partners highlighted those who consistently maintained a strong pace across the campaign and secured top positions on the leaderboard through long-term performance rather than short-term spikes.
As the final results were announced on stage, the emotions in the room spoke for themselves. The winners of N1 Puzzle Promo shared their reactions moments after the ceremony, reflecting on the journey, the competition and what the victory meant for their teams.
1st place – Cash Splash, winner of the main prize: a Robinson R22 Beta II helicopter

The winning team, Cash Splash, shared their impressions after the announcement of the results:
“The emotions are overwhelming, honestly at the highest level. The event itself was impressive, and winning the main prize among such strong peers feels truly incredible. For a long time, we were simply doing our job, and only closer to the end did we realise we could compete for first place and win the helicopter.
What mattered most for us was that this was not just a promo or a prize. Throughout the campaign, it was clear that N1 Partners focus on long-term relationships and transparent partnership. We understood what we were competing for, and that level of clarity was a strong motivation.”
2nd place – Advertise.net, awarded an Aston Martin Aramco AMR24 F1 Simulator

The second-place team, Advertise.net, shared their perspective on the promo and the competition:
“The first emotion was pure excitement. For us, even making it into the top three already felt like a win. We worked on this for a long time, and seeing our company’s name on stage was an incredibly emotional moment.
What mattered most in this promo was transparency and fairness. We could track our results almost in real time and clearly understand how we could influence the outcome. This was not a vote or a matter of luck, it was the result of real work.”
3rd place – Traffic Squad, winner of a Rolex Sky-Dweller watch

4th place – Seven Group
5th place – Alfaleads Network
Each announcement was met with strong engagement from the audience, reinforcing the competitive nature of the promo and the scale of its rewards. The ceremony underscored a key message of the campaign: consistency, strategy and commitment over time were central to success.
The Final Piece of a Year-Long Story
The N1 Puzzle Promo Grand Final was not positioned as a standalone celebration, but as the natural conclusion of a campaign that unfolded throughout the year. By combining immersive production, a strong narrative arc and tangible recognition of partner achievements, N1 Partners delivered a final that felt both earned and relevant to the industry.
Alexa Bond, Head of Affiliates at N1 Partners, shared her thoughts on the campaign finale:
“The N1 Puzzle Promo Grand Final in Barcelona became the culmination of the entire campaign and a reflection of what was achieved over the year. Bringing our partners together to celebrate their results highlighted the commitment, consistency and long-term effort behind this journey.
This finale was our way of showing that we are not just working side by side, but building long-term partnerships based on trust and shared goals. Seeing our partners celebrate their achievements, share emotions and connect with each other confirmed that we created something truly meaningful for the affiliate community.”

The grand final also attracted strong interest from industry media. Representatives of leading iGaming and affiliate outlets attended the event, capturing its atmosphere and engaging with partners throughout the evening. Their presence reinforced the broader industry relevance of the N1 Puzzle Promo finale and extended its visibility beyond the conference floor.
As the evening came to a close, the grand finale reflected what the promo was ultimately about: long-term collaboration and a shared moment of celebration with the iGaming community.
N1 Partners expressed appreciation to all guests who joined the N1 Puzzle Promo grand final party and helped turn the evening into one of the most memorable moments of the conference week.
Be number one with N1 Partners.
The post Level Up in Barcelona: N1 Partners Puzzle Promo Grand Final Recap appeared first on Americas iGaming & Sports Betting News.
Latest News
Level Up in Barcelona: N1 Partners Puzzle Promo Grand Final Recap
The N1 Puzzle Promo journey reached its culmination in Barcelona, where N1 Partners hosted a grand final event that became one of the standout events of the iGB Affiliate week. Taking place after the first day of iGB Affiliate in Barcelona, the evening marked the official conclusion of a year-long campaign that ran throughout 2025 and consistently engaged partners across the industry.
Designed as a large-scale finale, the event brought together a carefully selected audience of industry leaders, top-performing affiliates and long-term partners. Interest in the final exceeded expectations well in advance, with more than 2,000 registrations submitted and over 600 guests attending the closed-format celebration. Limited access and a curated guest list helped shape an atmosphere of anticipation and made the night one of the most discussed gatherings of the conference week.
Where the Final Began: First Moments of the Night
From the moment guests arrived, the tone of the evening was clear. Paparazzi-style photographers welcomed attendees at the entrance, capturing arrival moments and setting a cinematic pace for what followed. Inside, flight-attendant-inspired stewards guided guests through the venue.

Multiple zones were designed to balance entertainment and conversation. A signature cocktail bar served drinks created specifically for the night, while a dedicated VIP area offered a comfortable setting for private discussions, networking and informal meetings that continued throughout the evening.
When the Stage Took Over the Night
The stage program played a central role in shaping the atmosphere of the night. Rather than relying on a single format, the evening unfolded through a sequence of performances that kept guests engaged from start to finish. Energetic dance acts set the pace early on, followed by moments of contrast, including classical compositions reimagined in a rock-driven style.

DJ sets carried the momentum between performances, while the appearance of the event’s headline guest became a natural high point of the program. Combined with lighting design and stage production, the performances created an experience that stayed with guests long after the evening came to a close.

As a final personal touch, guests were invited to visit the custom patch bar, where they could take home a souvenir marking their participation in the N1 Puzzle Promo grand final.



Celebrating the Leaders of N1 Puzzle Promo
At the core of the evening stood the award ceremony, recognising the partners who defined N1 Puzzle Promo throughout the year. N1 Partners highlighted those who consistently maintained a strong pace across the campaign and secured top positions on the leaderboard through long-term performance rather than short-term spikes.
As the final results were announced on stage, the emotions in the room spoke for themselves. The winners of N1 Puzzle Promo shared their reactions moments after the ceremony, reflecting on the journey, the competition and what the victory meant for their teams.
1st place – Cash Splash, winner of the main prize: a Robinson R22 Beta II helicopter

The winning team, Cash Splash, shared their impressions after the announcement of the results:
“The emotions are overwhelming, honestly at the highest level. The event itself was impressive, and winning the main prize among such strong peers feels truly incredible. For a long time, we were simply doing our job, and only closer to the end did we realise we could compete for first place and win the helicopter.
What mattered most for us was that this was not just a promo or a prize. Throughout the campaign, it was clear that N1 Partners focus on long-term relationships and transparent partnership. We understood what we were competing for, and that level of clarity was a strong motivation.”
2nd place – Advertise.net, awarded an Aston Martin Aramco AMR24 F1 Simulator

The second-place team, Advertise.net, shared their perspective on the promo and the competition:
“The first emotion was pure excitement. For us, even making it into the top three already felt like a win. We worked on this for a long time, and seeing our company’s name on stage was an incredibly emotional moment.
What mattered most in this promo was transparency and fairness. We could track our results almost in real time and clearly understand how we could influence the outcome. This was not a vote or a matter of luck, it was the result of real work.”
3rd place – Traffic Squad, winner of a Rolex Sky-Dweller watch

4th place – Seven Group
5th place – Alfaleads Network
Each announcement was met with strong engagement from the audience, reinforcing the competitive nature of the promo and the scale of its rewards. The ceremony underscored a key message of the campaign: consistency, strategy and commitment over time were central to success.
The Final Piece of a Year-Long Story
The N1 Puzzle Promo Grand Final was not positioned as a standalone celebration, but as the natural conclusion of a campaign that unfolded throughout the year. By combining immersive production, a strong narrative arc and tangible recognition of partner achievements, N1 Partners delivered a final that felt both earned and relevant to the industry.
Alexa Bond, Head of Affiliates at N1 Partners, shared her thoughts on the campaign finale:
“The N1 Puzzle Promo Grand Final in Barcelona became the culmination of the entire campaign and a reflection of what was achieved over the year. Bringing our partners together to celebrate their results highlighted the commitment, consistency and long-term effort behind this journey.
This finale was our way of showing that we are not just working side by side, but building long-term partnerships based on trust and shared goals. Seeing our partners celebrate their achievements, share emotions and connect with each other confirmed that we created something truly meaningful for the affiliate community.”

The grand final also attracted strong interest from industry media. Representatives of leading iGaming and affiliate outlets attended the event, capturing its atmosphere and engaging with partners throughout the evening. Their presence reinforced the broader industry relevance of the N1 Puzzle Promo finale and extended its visibility beyond the conference floor.
As the evening came to a close, the grand finale reflected what the promo was ultimately about: long-term collaboration and a shared moment of celebration with the iGaming community.
N1 Partners expressed appreciation to all guests who joined the N1 Puzzle Promo grand final party and helped turn the evening into one of the most memorable moments of the conference week.
Be number one with N1 Partners.
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1st Place – Cash Splash
2nd Place – Advertise.net
3rd Place – Traffic Squad