BetMGM's Revenue Reaches $1.96 Billion In 2023

Marina Magomedova
11 Feb 2024
21:06
BetMGM's Revenue Reaches $1.96 Billion In 2023

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.

Betano Announced As Official Partner Of CONMEBOL And UEFA Euro
Betano Announced As Official Partner Of CONMEBOL And UEFA Euro
Illegal Gambling Revenue Hits $714bn Globally, Dwarfing Legal Market
Illegal Gambling Revenue Hits $714bn Globally, Dwarfing Legal Market
FSB Partners With SuperSportBet To Launch Tailored South African Content
FSB Partners With SuperSportBet To Launch Tailored South African Content
Follow Telecom Asia Sport!
Comments
No Comments Yet! Be the first to share what you think!
This website uses cookies
This provides customers with a personalized experience and increases the efficiency of visiting the site, allowing us to provide the most efficient service. By using the website and accepting the terms of the policy, you consent to the use of cookies in accordance with the terms of this policy.