BetMGM and Entain have reaffirmed their full-year 2024 EBITDA guidance ahead of their upcoming financial results.
The news comes amid growing uncertainty in the betting industry, underscored by Flutter Entertainment’s recent profit warning for FY 2024. Against this background, Entain’s stock has experienced significant volatility, shedding nearly 10% over the past five days.
BetMGM reported a H1 2024 EBITDA loss of $123m, consistent with its expectations for a year heavily focused on investment. The company confirmed that EBITDA for H2 2024 is expected to remain at a similar level, resulting in a full-year EBITDA loss of approximately $250m.
Despite the customer-friendly US sports results seen during Q4, ”particularly in October and December,” the company said it will not revise its guidance.
