Entain Plc Stock Price, News & Analysis

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.

BetMGM announces the first BetMGM West Fest, kicking off Big Game weekend in Glendale, Arizona on February 11, 2023. The event features Tim McGraw and Bailey Zimmerman and will have $57 general admission tickets available for a 24-hour pre-sale starting January 11, 2023, exclusively through the BetMGM mobile app. Public sales commence on January 12, 2023. The Westgate Entertainment District will host the concert, enhancing fan experiences with local restaurants and entertainment options. BetMGM emphasizes responsible gaming practices and will donate a portion of beer garden sales to a local charity.

BetMGM has launched both mobile and retail sports betting operations in Ohio as of January 1, 2023. This initiative includes the BetMGM mobile app, accessible statewide, and retail locations at MGM Northfield Park and Great American Ball Park. The app offers customizable betting options and integrates with MGM Rewards for exclusive experiences. BetMGM also opened new retail sportsbooks in Cleveland and Cincinnati, enhancing its presence in the state. The company emphasizes responsible gambling through its GameSense program, promoting a safe gaming environment for users.

BetMGM has become the Official Sports Betting Partner of the Nashville Predators, enhancing its brand visibility at Bridgestone Arena. The multi-year agreement includes branded signage throughout the venue and plans for a BetMGM restaurant and bar. The partnership aims to improve the gameday experience for fans while reinforcing BetMGM's presence in Tennessee, following its earlier collaboration with the Tennessee Titans. BetMGM also prioritizes responsible gaming education through its GameSense program accessible on its platforms.