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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 |
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(2) |
FY2023 non-GAAP net revenue guidance established in January 2023 |
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(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”) |
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(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. |
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(5) |
BetMGM operates iGaming and Online Sports Betting in five markets and Sports Betting only (combined online and retail) in 23 markets. |
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(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. |
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(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.
Supplier confirms booth 732 at the July 20-22 show in Oklahoma City and outlines new game titles plus BSX table progressives.
AGS said it will attend the 2026 Oklahoma Indian Gaming Association (OIGA) Conference and Trade Show on July 20-22 at the Oklahoma City Convention Center, where it plans to present new slot content, cabinet updates, and its table progressive platform. The company will exhibit at booth 732.
In a statement, AGS CEO and President David Lopez positioned the show as a homecoming tied to the company’s Class II history in the state. ”Oklahoma is not just another dot on the map for us. It’s where we started and where we learned how to be a true gaming supplier,” Lopez said. “You can’t fake it in Oklahoma. Tribal customers know the games, they know the math, they know service, and they know who shows up every time. That has been great for AGS, because it forced us to get better. It made us more disciplined while keeping us honest. We’ve grown a lot since then – Class III, tables, interactive, offices all over the place – but our history in Oklahoma and Class II is not something we moved on from. It’s part of the AGS engine.”
On the slots side, AGS said its showcase will include the large-format Spectra SL75+
cabinet, which supports the Spectra game library, including premium titles when leased. The company said the cabinet will be used to highlight five new titles: Rakin’ Bacon! Fu Zhu Bao Bao; Rakin’ Bacon! 5 Prosperity Pots; Cash Carriage Looter; Da Da Luo Boom; and Frightful Fortunes Popping Pumpkins.
AGS also outlined its mechanical stepper cabinet Revel®, available in both Class II and Class III, and said its latest Revel portfolio includes Crystal Reels® and Royal Reels®. The company added that Jackpot Legends and So Hot Cash® are set to debut in Class III later this year, with Class II launches following in 2027.
For tables, AGS highlighted its Bonus Spin Xtreme® (BSX) progressive platform, which the company said links table games across the pit and poker room. AGS did not disclose operator deployments, jackpot figures, or performance metrics tied to BSX in the announcement.
The post AGS details OIGA 2026 lineup, including Spectra SL75+ and Revel updates appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Gestionar fondos en múltiples mercados: el cuello de botella oculto que frena el crecimiento del iGaming en América Latina
Argentina, 13 de julio de 2026 – Escalar un negocio de iGaming en América Latina implica gestionar infraestructuras de pago paralelas, fondos de liquidez separados y procesos de conciliación desconectados en cada país. Para los operadores que buscan expandirse a nivel regional, esta fragmentación se ha convertido en un costo tangible: consume tiempo, inmoviliza capital, reduce los márgenes a medida que el negocio crece y aumenta la complejidad operativa con cada nuevo mercado.
Brasil marcó el ritmo con ingresos por 37.000 millones de reales en 2025, el primer año completo del mercado bajo un marco regulatorio, según datos de la Secretaría de Premios y Apuestas (SPA). Argentina, Perú, México y Chile también continuaron atrayendo operadores con estrategias de expansión regional. Sin embargo, en la práctica, estas compañías siguen enfrentándose al mismo obstáculo: infraestructuras financieras que operan de manera aislada, con poca o ninguna interoperabilidad entre sí.
Cada mercado funciona sobre rieles de pago locales sin un equivalente directo en otros países. En Brasil, Pix, incluido Pix Biométrico, representa la gran mayoría de las transacciones, especialmente tras la prohibición del uso de tarjetas de crédito y boletos bancarios para las apuestas. En Argentina, las CVU y las transferencias instantáneas cuenta a cuenta (A2A) impulsan los depósitos y retiros; en México ese rol lo cumplen las transferencias SPEI A2A, mientras que en Colombia corresponde a BRE-B. En Chile, MACH se ha convertido en el método de pago preferido por una gran parte de los jugadores y, en Perú, ese lugar lo ocupa Yape. Ninguna de estas infraestructuras de pago se integra de forma nativa con las demás, lo que significa que un operador presente en todos estos mercados termina administrando una infraestructura financiera independiente en cada uno de ellos.
El impacto va mucho más allá del procesamiento de pagos. Cuando los fondos circulan a través de sistemas desconectados entre distintas jurisdicciones, cada una con sus propias normas fiscales y ciclos de liquidación, los operadores pierden visibilidad en tiempo real sobre su posición de caja. Como consecuencia, decisiones que deberían basarse en información precisa y actualizada terminan dependiendo de consolidaciones manuales y estimaciones.
“Vimos venir este escenario antes que el mercado. A medida que la regulación maduró en Brasil, Argentina, Perú, Colombia y el resto de la región, el mayor desafío para los operadores dejó silenciosamente de ser ‘¿podemos ingresar al mercado?’ para convertirse en ‘¿podemos controlar lo que ocurre dentro de nuestra operación?’. Las operaciones financieras fragmentadas son hoy uno de los principales obstáculos para una expansión regional rentable y el problema se agrava, no se reduce, cuanto más crece una empresa. Los ganadores no se definirán por su presencia geográfica, sino por su capacidad de tener visibilidad, control y una gestión integrada. Esa es la convicción sobre la que se construyó OKTO PAYMENTS: infraestructura de pagos local en cada mercado, con una única capa de control financiero por encima, conectada mediante una sola API para todo el continente”, afirmó Filippos Antonopoulos, fundador y CEO de OKTO PAYMENTS.
Para los proveedores de servicios de pago (PSP), dar soporte a operadores presentes en múltiples mercados requiere mucho más que conectividad con los métodos de pago locales. Exige combinar infraestructura local con una capa centralizada de gestión financiera que proporcione visibilidad en tiempo real sobre los fondos, la conciliación y la liquidez entre distintas jurisdicciones. El objetivo es administrar los pagos no como integraciones independientes por país, sino como un marco unificado de control financiero distribuido en múltiples mercados.
OKTO PAYMENTS fue diseñado precisamente para responder a ese desafío. Los operadores realizan una única integración y acceden a los métodos de pago locales que los jugadores esperan en cada mercado: Pix en Brasil, CVU y A2A en Argentina, MACH en Chile, Yape en Perú, entre otros. Sobre esa infraestructura funciona una única capa de tesorería y conciliación que consolida fondos, liquidez y liquidaciones en una vista unificada y en tiempo real, permitiendo que los equipos financieros dejen de conciliar mercado por mercado para gestionar una única posición regional.
Para los operadores que están planificando o acelerando su expansión regional, OKTO PAYMENTS ofrece una evaluación de su infraestructura financiera para identificar dónde la fragmentación está generando costos hoy, ya sea por capital inmovilizado, demoras en las liquidaciones o pérdida de visibilidad financiera. Para solicitar una evaluación, los interesados pueden contactar al equipo comercial de OKTO PAYMENTS.
The post Expandirse en LatAm: el costo oculto que enfrenta la industria del iGaming appeared first on Americas iGaming & Sports Betting News.
AGS today announced it will be attending the 2026 Oklahoma Indian Gaming Association (OIGA) Conference and Trade Show, taking place July 20-22 at the Oklahoma City Convention Center.
With deep seated roots in Oklahoma, where AGS was founded and where its primary warehouse and production facility is located, AGS is eager to return to OIGA with a continued commitment to serving the needs of tribal operators.
”Oklahoma is not just another dot on the map for us. It’s where we started and where we learned how to be a true gaming supplier,” said David Lopez, CEO and President of AGS. “You can’t fake it in Oklahoma. Tribal customers know the games, they know the math, they know service, and they know who shows up every time. That has been great for AGS, because it forced us to get better. It made us more disciplined while keeping us honest. We’ve grown a lot since then – Class III, tables, interactive, offices all over the place – but our history in Oklahoma and Class II is not something we moved on from. It’s part of the AGS engine.”
The Company’s product showcase will include the large-format, specialty cabinet Spectra SL75+. Designed to support the entire Spectra game library, including premium titles when leased, Spectra SL75+ gives operators added flexibility to mix and match content to fit their unique casino floor.
The cabinet acts as the perfect canvas to highlight five new titles including Rakin’ Bacon! Fu Zhu Bao Bao and Rakin’ Bacon! 5 Prosperity Pots, Cash Carriage Looter, Da Da Luo Boom, and Frightful Fortunes Popping Pumpkins.
AGS’ high-performing mechanical stepper cabinet Revel® – available in both Class II and Class III – is redefining the category by blending traditional mechanical gameplay with video-inspired features, creating an engaging experience for all player types. The latest Revel portfolio includes Crystal Reels® and Royal Reels®, available in both Class II and Class III. Expanding the lineup, Jackpot Legends – a new cash-on-reels title featuring an exciting Jackpot Bonus Wheel – and So Hot Cash®, which delivers classic stepper gameplay and can be linked to the So Hot Grand progressive, are set to debut in Class III later this year, with Class II launches following in 2027.
On the table side, AGS’ award-winning progressive platform Bonus Spin Xtreme® (BSX) has been hugely successful in turning small side bets into massive jackpots throughout the tribal casino market. Linking all table games – from the pit to the poker room – BSX has been elemental in allowing operators to offer the flexibility at the tables to make these life-changing wins become more common.
AGS’ participation in OIGA reflects the Company’s history in Oklahoma and its longstanding commitment to the tribal gaming community. More than a trade show presence, OIGA is an opportunity for AGS to reconnect with valued partners, strengthen relationships, and reaffirm its respect for the Oklahoma Tribes that have played such an important role in the Company’s growth.
Attendees are invited to visit AGS at booth 732 throughout the show.
For more information, visit newsroom.playags.com.
©2026 AGS LLC. All® notices signify marks registered in the United States. All notices signify trademarks which are currently not registered on any country-wide basis. Products referenced herein are sold by AGS LLC or its affiliates.
The post AGS Reflects on Their Class II Roots at OIGA 2026 appeared first on Americas iGaming & Sports Betting News.
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