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SPORTS BETTING

US – BetMGM to deliver at the upper end of $1.8bn to $2bn in revenue

By - 5 December 2023

BetMGM, one of the leading sports betting and iGaming operators across the US, jointly owned by MGM Resorts International and Entain, is hosting a business update for analysts and investors.

The virtual presentation will provide the latest views on BetMGM’s performance to date, product enhancements and technology updates, sources of competitive differentiation and financial outlook. Following the presentations, there will be a live Q&A session.

During the presentation, BetMGM’s Chief Executive Officer Adam Greenblatt and Chief Financial Officer Gary Deutsch will focus on the overall strategy and outlook, including delivery of 2023 guidance, reaching the upper end of $1.8-$2bn revenue and achieving EBITDA profitability in the second half. They will highlight key enhancements in both digital sports and market-leading iGaming product presenting the opportunity to invest competitively behind the brand, driving accelerated player acquisition and aiding player retention. They will also give clarity on why 2024 is an investment year to drive enterprise value for shareholders; setting a target of approximately $500m EBITDA in 2026.

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