Entain eyes 2023 BetMGM revenue of up to $2.0 billion 

Finance News

Entain has given an outlook for BetMGM, its joint-venture in the US, owned jointly with MGM Resorts International.

The London-based sports betting and gambling operator – via Coral, Ladbrokes, PartyPoker and various other brands – said it expected a BetMGM revenue in the upper range of $1.8 billion to $2.0 billion for 2023. For 2022, Entain had reported BetMGM net gaming revenue of $1.44 billion. 

Further, Entain expects BetMGM to achieve earnings before interest, tax, depreciation and amortisation profitability in the second half of 2023. For 2026, it targets about $500 million in Ebitda for BetMGM. 

Entain noted ‘key enhancements in both digital sports and market-leading iGaming product presenting the opportunity to invest competitively behind the brand, driving accelerated player acquisition and aiding player retention.’