BetMGM secures exclusive casino content rights with Fremantle
BetMGM announced a new and exclusive online casino rights agreement with Fremantle, a global pioneer in creating, producing, and distributing entertainment content for over a...
BetMGM’s H1 2024 revenue hits $1 Billion
According to BetMGM‘s first-half financial report, net revenue for the first half of 2024 was $1 billion, up 6% from the same period the previous year.
The operator also stated that its North American market share for the January through June period was 13%, based on the gross gaming revenue (GGR) share for online sports betting and iGaming in the US and Ontario, Canada.
The gaming company showed some signs of growth in the second quarter, as net revenue rose 3% from the first quarter and 9% year over year. Net revenue from sports betting and iGaming increased by 16% and 18%, correspondingly, in the second quarter.
These increases reflect cumulative advantages from Entain Plc’s July 2023 purchase of Angstrom Sports. Angstrom is a data and analytics provider that uses predictive modeling to develop pricing and forecasting capabilities. Entain controls half of BetMGM, one of the major US-based online sportsbook operators. MGM Resorts International has the other 50%.
BetMGM CEO Adam Greenblatt said in a statement:
“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.”
As previously mentioned by the operator, BetMGM sees 2024 as an investment year. The company stated that more investments are anticipated to be financed by bank debt, but it still projects second half EBITDA that would be similar to what was observed in the first half of the year. BetMGM stated that it is still optimistic about achieving $500 million in EBITDA in the coming years.
BetMGM now available in Sweden
LeoVegas Group has expanded its BetMGM brand to Sweden, targeting the third international market for the platform following successful debuts in the UK and the Netherlands.
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