Entain Plc Stock Price, News & Analysis

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.

Bragg Gaming Group (NASDAQ: BRAG) has launched its new content and technology with BetMGM in Michigan, expanding its North American presence. The new offerings include proprietary titles like Egyptian Magic from the Atomic Slot Lab and exclusive games from partner studios. The Michigan online casino market is projected to generate over $1.5 billion in gross win in 2022, with BetMGM holding a 38% market share. This rollout enhances Bragg's long-standing collaboration with BetMGM, aiming for consistent long-term growth in the iGaming sector.

unikrn, the expansive esports betting platform, launches in Brazil and Canada, expanding its reach to new regulated markets. Designed for a new generation of players, the platform offers various betting options across esports, traditional sports, and casino games. Key features include UMode for skill-based betting, unikrn Virtual for real-time esports action, and exclusive unikrn Rewards. With the backing of Entain, unikrn aims to innovate its offerings while ensuring a secure and engaging betting experience.

BetMGM has been awarded 'Online Casino of the Year' at the 2022 American Gambling Awards, reflecting its leadership in the iGaming sector. With a substantial 30% market share across New Jersey, West Virginia, Pennsylvania, and Michigan, BetMGM's recognition is attributed to its diverse game offerings, effective marketing strategies, and strong organizational growth in 2022. The award emphasizes BetMGM's commitment to innovation and responsible gaming practices, available in the BetMGM app, which recently expanded to Maryland.

BetMGM has awarded a $180,000 grant to the International Center for Responsible Gaming (ICRG) to fund research and education on responsible gambling and advertising's impact on problem gambling. This collaboration aims to enhance understanding of potential risks, shaping best practices in the gaming industry. BetMGM emphasizes its commitment to responsible gambling through its GameSense program, integrated into its platforms, ensuring customers receive support to gamble responsibly. The ICRG, established in 1996, is a leader in research on gambling disorders.