Bookmaker BetMGM, a joint venture of Entain and MGM Resorts, generated $1.96 billion in revenue in 2023, hitting the upper end of its projected range for the year.
The company's expectations for the full year ranged from $1.80 billion to $2 billion, with several events contributing to the growth.
In December, BetMGM management stated that the company is on track to achieve positive EBITDA of $500 million by 2026, despite expecting negative EBITDA of $67 million in 2023.
Last year, BetMGM expanded its presence in North America and currently operates in 28 markets across the continent. New launches in 2023 included Ohio, Massachusetts, Kentucky and an online direction in Puerto Rico.
BetMGM's share of the US bookmaking market reached 14% in 2023, and the operator also holds a 22% share of the Canadian market.