BetMGM revenue almost reaches $2b in 2023
BetMGM has recently reported a revenue of just under 2 billion dollars in 2023.
The operator’s latest financial performance report started off with its 1.96-billion-dollar revenue figure, which represented a 36% year-over-year increase when compared to BetMGM’s performance in 2022 and was at the higher end of the company’s projected revenue range of 1.8 billion to 2 billion dollars for the financial year.
BetMGM reported that while its FY2023 EBITDA is expected to be negative at a loss of around 67 million dollars, the company generated a positive EBITDA in the second half of the year, meaning the operator is on track to be profitable in the near future. The firm mentioned that it is on track with its 2026 EBITDA guidance of 500 million dollars as well.
In addition to its operational figures, BetMGM also reported that it currently has access to just under half of all adults across the United States, as the company has acquired licenses and is currently offering its services in 28 states in the country. The firm launched in four new markets throughout the year and has a market share of 14% in the United States and 22% in the Canadian province of Ontario.