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Entain Plc (GMVHY) delivers cutting-edge sports betting and iGaming solutions through brands like BetMGM, operating in over 30 regulated markets worldwide. This page provides investors with a comprehensive collection of official news releases and verified updates directly impacting the company's strategic position.
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Key updates include corporate governance changes, responsible gaming initiatives, and financial performance metrics. Bookmark this page for streamlined tracking of Entain's progress in merging retail expertise with digital-first solutions across global gaming ecosystems.
BetMGM has announced the launch of its mobile sports betting app in Massachusetts, complementing its existing retail sportsbook located at MGM Springfield. This launch is expected to enhance customer engagement, especially during a peak sports season. Users can enjoy a range of betting options, including live in-play and futures wagers, and benefit from the MGM Rewards program. This initiative follows BetMGM's recent partnership with the Boston Red Sox, further solidifying its presence in the Massachusetts market. The launch emphasizes BetMGM's commitment to responsible gambling with educational resources for users.
On March 8, 2023, BetMGM launched the Wheel of Fortune Online Casino in New Jersey, marking the first brand-led online casino in North America. Collaborating with IGT (NYSE: IGT), the platform features America's Game®-branded slot titles and additional themed games. BetMGM aims to provide an innovative gaming experience, leveraging the iconic Wheel of Fortune brand, which celebrates its 40th season. Players can enjoy the casino via iOS, Android, and desktop. The launch reflects BetMGM's commitment to responsible gaming, partnering with MGM Resorts to offer gaming education resources.
BetMGM has announced its partnership with the Boston Red Sox, becoming the official sports betting partner for the iconic MLB team. This partnership marks BetMGM's first collaboration with a Massachusetts sports team, coinciding with the state's upcoming mobile sports betting launch. BetMGM will enhance the fan experience at Fenway Park with signage, VIP experiences, and co-branded content. The partnership solidifies a strong relationship with MGM Resorts, the official resort casino for the Red Sox. BetMGM emphasizes responsible gaming through its GameSense program as it enters this new market.
MGM Resorts (NYSE: MGM) and BetMGM have announced a five-year contract extension with the British Columbia Lottery Corporation (BCLC) for their responsible gaming program, GameSense. This partnership aims to enhance customer service by promoting positive conversations about responsible gambling. The agreement, coinciding with Problem Gambling Awareness Month, will involve further commitments to research and responsible gaming practices. MGM Resorts has integrated GameSense into all its platforms, reaching over 100,000 customers monthly with responsible gaming information. The contract extension is set to strengthen efforts in responsible gaming as sports betting and iGaming continue to expand.
MGM Resorts International (NYSE:MGM) and BetMGM have launched MGM Riches, their first custom omnichannel slot experience. This multi-denomination, multi-level progressive slot game features two themes: 'MGM Riches Triple Ruby' and 'MGM Riches 5x Sapphire.' Players can access this game online via BetMGM and at MGM properties in 15 U.S. states, with an upcoming launch in West Virginia. This initiative integrates MGM Rewards and BetMGM Rewards, allowing players to earn Tier Credits and redeem rewards across both platforms. The launch aims to enhance the gaming experience and engagement for customers.
BetMGM has announced a groundbreaking pledge to enhance the visibility of responsible gaming messages in its marketing, starting March 1, 2023, in alignment with Problem Gambling Awareness Month. This initiative includes promoting responsible gaming within the BetMGM mobile app and across various advertising platforms, including billboards and social media, in the U.S. and Canada. Developed in collaboration with GameSense, the program offers tools for setting spending limits and addressing gambling myths. BetMGM aims to lead the industry in responsible gaming, with CEO Adam Greenblatt highlighting the importance of research in addressing problem gambling issues.
Anaxi, Aristocrat's online Real Money Gaming business, has formed a strategic partnership with BetMGM, enabling the exclusive delivery of Aristocrat’s gaming content on BetMGM's online casino platform. This collaboration marks the launch of Anaxi's gaming content in North America, enhancing BetMGM's offerings with iconic games from Aristocrat. Anaxi, established in 2022, aims to innovate online gaming experiences through its creative technology and global content studios. The partnership aligns with BetMGM's commitment to responsible gambling and broad market expansion.
On January 31, 2023, BetMGM announced the launch of retail sports betting at MGM Springfield, Massachusetts, marked by the first legal wager placed by Springfield Mayor Domenic J. Sarno and hockey legend Ray Bourque. BetMGM CEO Adam Greenblatt emphasized the sportsbook as a premier destination for local sports fans, featuring a 45-foot LED wall and multiple betting kiosks. The integration with MGM Rewards enhances user experience, offering rewards redeemable at various MGM Resorts. Local officials, including State Senator Adam Gomez, highlighted the economic benefits, projecting $20-$30 million in revenue from sports betting in Massachusetts.
BetMGM, a leading sports betting and iGaming operator, announced its strong financial performance for FY 2022, achieving net revenue of $1.44 billion, surpassing guidance of $1.3 billion. Despite an EBITDA loss of approximately $440 million, the company anticipates being EBITDA positive in the second half of 2023. The business experienced a 51% growth in same-state net revenue and reduced customer acquisition costs by 21%. BetMGM holds a 30% market share in iGaming and 13% in online sports betting, with presence in 25 jurisdictions across North America. The company expects net revenue between $1.8 and $2 billion for FY 2023, alongside a combined additional investment of $150 million from MGM and Entain.
On January 26, 2023, BetMGM, LLC will provide a business update and host a conference call at 10:00 a.m. ET to discuss its results. This sports betting and iGaming operator, jointly owned by MGM Resorts and Entain, continues to lead the U.S. market. The conference call offers an overview of operational results followed by a Q&A session. Interested participants can register for the call to obtain dial-in details. The update will highlight the company's performance and strategic insights relevant to stakeholders and investors.
