BetMGM execs bullish, despite wider losses

Tuesday, February 4, 2025 7:45 PM
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  • David McKee, COMPLETE iGAMING

BetMGM’s losses grew from $97 million in 2023 to $291 million in 2024. Negative return on investment went from $62 million to $244 million.

Even so, “We are an igaming juggernaut,” proclaimed Chief Executive Adam Greenblatt during a February 4 investor call. “We are on the right path already.” The past year, added Chief Finance Officer Gary Deutsch, “positioned us for a big year in 2025.”

Greenblatt was undeterred by the latest figures, saying that in 2024 BetMGM was “focused on rebuilding momentum,” scoring $2.1 billion in revenue. He guided investors toward $2.4 billion to $2.5 billion in revenue in the new year, along with a positive return on investment, saying BetMGM was now “a stronger business in every respect.”