BetMGM, one of the leading sports betting and igaming operators in North America and jointly owned by Entain and MGM Resorts International, has provided an update on first half 2024 performance.
Net revenue from operations was $1bn, up six per cent on the prior year. CEO Adam Greenblatt commented: “The first half of this year has been very important in laying the groundwork for BetMGM’s future.
"2024 is a year of investment, focusing on improving our customer experience and stepping up our level of investment in players. We are encouraged to see this strategy delivering accelerating momentum.
"We have exceeded our goals for both acquisition and retention, which should lead to higher year-over-year revenue growth for the second half of this year into 2025.
"Our online sportsbook players have been enjoying Angstrom-enabled product capabilities since the start of the baseball season and we look forward to players enjoying this across our wider sports offering leading into the NFL season.
"We are also very excited to bring our unique omnichannel opportunities to players by fully leveraging MGM Resorts’ presence in Las Vegas.
"Single Account Single Wallet will be an important driver of the customer experience, with Nevada marking its completion ahead of the NFL season.
"Our igaming business continues to perform strongly with attractive returns and to maximise this strength and momentum, we plan to deploy additional marketing in the back half of this year.
"Our execution roadmap, building momentum and prospects ahead all support our confidence in BetMGM’s strong future.”
