Tag Archives: BetMGM

Entain tops 2022 earnings following busy Q4

Jette Nygaard-Anderson, Entain CEO

Entain Plc has outperformed its FY2022 earnings guidance, following a strong close to year-end trading buoyed by peak online results.  Publishing its Q4 2022 trading update, Entain delivered a ‘strong group performance’ as group net revenues (NGR) increased by +11% (+7% constant currency basis).  Period trading saw the FTSE100 gambling group achieve a record online NGR of +12%, results reflecting …

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Entain expects EBITDA positive BetMGM by H1 close

BetMGM - MGM and Entain joint venture

BetMGM has exceeded its commercial targets for 2022, according to a joint-statement by venture partners Entain and MGM Resorts, as the US sportsbook achieves full year revenues of $1.44bn. The headline figure is above guidance issued 12 months ago, in which JV partners set a target of $1.3bn, as the firm’s revenue growth objectives are more than on track.  However, …

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MGM reconsiders fresh Entain bid once White Paper clears UK air

BetMGM - MGM and Entain joint venture

US gambling giant MGM Resorts is once again considering a bid to acquire its BetMGM joint-venture partner Entain Plc, as dealmakers await for the UK Gambling Review to be concluded. Citing ‘city sources’, the Daily Mail’s This is Money business news page stated that an M&A move would likely be reconsidered after the White Paper on the Gambling Act review …

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EveryMatrix reports outperformance in Q3 as profit rises 33%

EveryMatrix

EveryMatrix has reported continued momentum for its B2B betting and gaming operations in Q3 2022. The technology provider revealed that total profit during the quarter rose by 33% to €16.8m from €14.9m, with an EBITDA margin of 38% from an EBITDA increase of 18.75% to €6.4m (Q3 2021: €5.2m). Examining European developments, EveryMatrix asserted that it is now ‘lapping the …

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Puerto Rico publishes long-awaited business authorisations for sports betting

SBC News Puerto Rico publishes long-awaited business authorisations for sports betting

The Commonwealth of Puerto Rico has named the seven businesses that have been licensed to operate online sportsbook services within the US overseas territory.  A long-awaited update to Puerto Rico’s sports and gambling legislature saw Jaime Rivera-Emmanuelli, who serves as interim director of the Puerto Rico Gaming Commission (PRGC) disclose the identities of the seven firms.  The PRGC has authorised …

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Entain keeps post-H1 consensus ahead of critical portfolio refresh

Jette Nygaard-Andersen takes charge of Entain as new CEO

Entain Plc has reported that it continues to achieve strategic objectives, as its business benefits from a ‘broader recreational customer base’ across regulated markets. Publishing its Interim 2022 trading results, the FTSE100 gambling group declared a ‘robust H1 performance’ against challenging global economic and regulatory headwinds. H1 trading saw Entain generate group net-gaming-revenues (NGR) of £2.11bn, up 18% on comparative …

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EveryMatrix secures ‘winning combination’ with bet-at-home partnership

SBC News EveryMatrix secures ‘winning combination’ with bet-at-home partnership

EveryMatrix has secured a boost for its German and wider European operations and visibility, striking a deal with bet-at-home. The B2B solutions supplier’s agreement with bet-at-home, a prominent Germany-based operator with a presence across Europe, concerns provision of EveryMatrix’s turnkey solution. Bet-at-home will replace its own proprietary platform with EveryMatrix’s tech offering, in order to support its business activities both …

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Crème de la crème of the sports betting and gaming industry celebrate success at SBC Awards North America 2022

SBC News Crème de la crème of the sports betting and gaming industry celebrate success at SBC Awards North America 2022

DraftKings, Entain, BetMGM, Catena North America, Caesars Sportsbook, Better Collective, Sportradar and White Hat Gaming were among the companies to celebrate victories at last night’s SBC Awards North America 2022 ceremony at Pier Sixty, Manhattan. The prestigious ceremony was hosted by YES Network Yankees Clubhouse reporter Meredith Maravokitz. The winners of the 27 operator, affiliate, supplier and payment and compliance …

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Entain fills C-level vacancies as new CTO and CCO confirmed

SBC News Entain fills C-level vacancies as new CTO and CCO confirmed

Entain has bolstered its senior leadership, making two internal promotions to appoint a new Chief Technology Officer (CTO) and Chief Commercial Officer (CCO). The vacancies will be filled by Shailendra Maurya (CTO) and Dominic Grounsell (CCO), two established members of Entain’s management team, having worked at the company for four years and three years respectively. Maurya’s tenure with the FTSE100 betting …

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Jette Nygaard-Andersen: M&A continues as key to Entain’s growth

Jette Nygaard-Andersen takes charge of Entain as new CEO

Following its Q2 2022 earnings update, Entain has detailed continued focus on its M&A strategy as well as sustainability, as regulatory judgements in the UK loom.  Sharing their perspectives in an investor earnings call, group CEO Jette Nygaard-Andersen and CFO Rob Wood explained that the FTSE100 gambling firm’s acquisition strategy was ‘active as ever’.  Assessing Entain’s global operations, Nygaard-Andersen pointed …

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