February 4, 2023 8:50 AM
As BetMGM guides toward profitability in the second half of 2023, U.K.-based conglomerate Entain is mulling its next steps with its massive, long-term investment in one of the three leading sportsbooks in the U.S.
BetMGM, a 50/50 joint venture between MGM Resorts and Entain plc, is coming off a successful year in which it posted net revenue of $1.4 billion while cementing its status as a top-three online sports betting and iGaming operator. By this time next year, when Las Vegas hosts the Super Bowl for the first time ever, BetMGM expects to soar to new heights.
Over a six-month period through Dec. 31, 2023, BetMGM anticipates turning a profit for the first time in the five-year history of the venture.