Tag Archives: MGM Resorts

Entain and MGM Resorts International have maintained profitable momentum with their BetMGM joint venture going into Q2. According to the financial preliminary for the period ending 13 June, the North America-facing operator has kept an upwards trajectory in terms of net revenue growth. Contributing to this were strong net revenue developments across both the operator’s iGaming and online sportsbook platforms …

MGM Resorts has provided a strategic update on the financial performance of the BetMGM (US) joint venture partnership with Entain Plc, in which the partners mark 2024 as “a year of investment to strengthen its online offering.” The update underscored the view that the BetMGM joint venture is progressing towards “break-even” despite reporting a full-year EBITDA loss of $244 million, …

Entain Plc stands by its full-year guidance for 2024 as the FTSE 100 gambling group monitors the financial updates of competitors. This morning, Entain reiterated its confidence in achieving the upgraded guidance issued on 17 October, targeting group-wide EBITDA at the top range of £1,040m-£1,090m. The update follows last week’s announcement by rival Flutter Entertainment, which cut its annual revenue …

BetMGM, the US joint venture of Entain Plc and MGM Resorts, states that it is ‘accelerating momentum’ in executing its technology roadmap to enhance its products and customer experiences. Publishing its H1 results, BetMGM generated net revenues of $1bn, up 6% on 2023 comparatives. Period growth reflects a 16% increase in Q2 sports betting and an 18% YoY increase in …

Niklas Lindahl has announced that he has ended his tenure as Global Chief Marketing Officer (Global CMO) of LeoVegas AB. The announcement was made via a LinkedIn post, in which Lindahl thanked LeoVegas colleagues for “the most amazing 5 years in my career. It has been a great ride. I will miss you all. LeoVegas is a one-of-a-kind company. Having …

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 …

BetMGM will utilise four media and PR agencies to support the expansion of its UK operations, partnering with Recipe, Boldspace, Tomorrow Advertising and The Media Network. The MGM Resorts brand launched in the UK in August LeoVegas’ platform – the Swedish igaming group was itself acquired by the Las Vegas conglomerate in 2022 – and has been consolidating its marketing …

BetMGM UK has become the latest international betting brand to secure a presence in the Premier League, partnering with Newcastle United. The agreement marks a quick move for the MGM Resorts betting brand to establish visibility in England’s top-flight football league following launch in the market earlier this month, with its UK HQ also located in Newcastle. Brand visibility around …

Kambi and LeoVegas have detailed continued momentum for their long-standing partnership, with the former supporting the UK launch of BetMGM. A so far solely US-facing brand of the MGM Resorts International group, BetMGM is being taken live in the UK using LeoVegas’ platform and utilising Kambi’s sportsbook services, including its Bet Builder and AI-powered algorithmic trading capabilities. LeoVegas Group has …

Stefan Nelson, Chief Financial Officer of LeoVegas, believes that the sector as a whole will prove innovative and resilient enough to overcome the challenges it faces – but some operators will fall along the way. As LeoVegas continues to embark on a new era as part of MGM Resorts, Nelson shared insights into how the company plans to navigate the …