BetMGM CEO Adam Greenblatt and CFO Gary Deutsch fielded analyst questions April 28 in a brisk half-hour earnings call recapping the first quarter. The company exceeded Wall Street expectations and its own guidance, beating the latter by 17%. That guidance, however, wasn’t updated.
“At this stage, it behooves us to be rather cautious when commenting on the rest of the year,” Greenblatt explained. He did allow that he expected growth in handle to slow down.
BetMGM reported 68% growth in online sports betting net revenue, including a 29% increase in money wagered. Parlay wagering was up 4.8% and average users bet 27% more with the company.
