How to lead a company from an unpromising situation to market leadership is a secret most betting and gaming industry executives would love to learn. In Issue 30 of SBC Leaders magazine, FanDuel President Christian Genetski gives readers the inside track on how he and his colleagues managed to do just that. In a revealing interview to mark Genetski’s imminent …
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Entain Plc remains focused on accelerating operational efficiency, aiming to return its business to growth by 2025. Publishing its Q1 2024 trading update, the FTSE100 gambling group stated that its “performance aligned with expectations,” with leadership prioritising operational performance improvements to drive organic growth. Period trading saw group net gaming revenues (NGR), including the BetMGM JV, increase by 6% on …
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BetMGM’s launch in the UK has attracted some criticism directed to the Advertising Standards Authority (ASA) over the use of an advert featuring high-profile comedian Chris Rock. Three complaints have questioned the use of Rock as a brand ambassador based on suspicions that he might attract an audience under the age of 18. The ad itself aired on 4 October …
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Last Thursday, Entain Plc published its full-year accounts revealing the scars of a problematic 2023. The long-awaited results of the FTSE100 gambling group left no place for hiding as leadership declared corporate losses of £900m. Though leadership maintains that dire 2023 results were down to legacy failings, under the bonnet, the year-end accounts detailed growing concerns across all markets including …
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Entain Plc has closed its full-year 2023 accounts declaring corporate losses (after tax) totalling £879m as group leadership proceeds with its transformation programme evaluating the firm’s brand portfolio, capital allocation and operating structures The LSE-listed gambling group announced its FY2023 results this morning, reporting that “results are in line with expectations and leadership is committed to improving operational execution to …
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Entain plc’s and MGM Resorts’ North American co-venture BetMGM has delivered its financial performance report for FY 2023, registering a positive EBITDA for H2. Financials The business saw its net revenue from operations grow by 36% year-over-year to $1.96bn, which represents the upper end of its $1.8bn to $2bn guidance range. Same-state net revenue from digital operations grew by 14%, …
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BetMGM UK has announced its sponsorship of Ascot Racecourse’s Clarence House Chase Raceday on 20 January. This deal includes the headline sponsorship of the feature contest on the day, the £175,000 Grade 1 BetMGM Clarence House Chase. The prestigious race has been won by some of the best two-mile chasers in recent history including Altior, Un De Sceaux and Sprinter …
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As the sports betting sector kicks into gear for the New Year, IGT’s Joe Asher shares some of his predictions for the next 12 months. He anticipates a greater focus on acquiring more customers in existing locations and the continued market dominance of FanDuel and DraftKings. Few sectors would benefit more from a crystal ball than the sports betting industry. …
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The PDC has announced that online sportsbook BetMGM is this year’s title sponsor for the Darts Premier League, taking over from Cazoo. The three-month event, now branded the BetMGM Premier League, will be held from February to May as eight players compete for £1m in prize money across 17 nights in various European cities. PDC Chief Executive, Matt Porter, commented: …
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US casino giant MGM Resorts will not be making a bid for the whole of Entain as the pressure from activist investors on the UK group’s CEO Jette Nygaard-Andersen shows few signs of easing following last week’s Financial Times reports of shareholders moving against her. According to sources close to the group, the US casino giant is “not interested” in bidding …
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