BetMGM
BetMGM and PlayAGS Launch Rakin’ Bacon Odyssey in Michigan
BetMGM, a leading sports betting and iGaming operator, and PlayAGS Inc. announced the omnichannel launch of Rakin’ Bacon Odyssey in Michigan. The slot game is exclusively available in Michigan on BetMGM and Rakin’ Bacon Odyssey slot machines are now at MGM Grand Detroit in Michigan.
“Rakin’ Bacon Odyssey is a fantastic example of BetMGM’s omnichannel advantage. We are incredibly proud to be the exclusive online home of the newest version of this popular game in Michigan which has proven to be the top state for iGaming,” Oliver Bartlett, Vice President of Gaming Product & Content at BetMGM, said.
Rakin’ Bacon Odyssey is the newest iteration of Rakin’ Bacon, a slot that players have gone hog wild for since PlayAGS released the game in 2018. In Rakin’ Bacon Odyssey, Cornsquealius, the iconic golden pig, goes to ancient Greece for new adventures. The 3×5 reel slot expands to 6×5 during the bonus feature and includes 7776 ways to win. Rakin’ Bacon Odyssey has four jackpots that can be won online on BetMGM or at MGM Grand Detroit.
“We are thrilled to announce the launch of Rakin’ Bacon Odyssey in Michigan with BetMGM, a pivotal expansion for our iconic ‘golden pig’. This launch underscores AGS’s unique position as a premier provider spearheading the omnichannel experience. Our commitment to seamless, cross-platform gameplay sets us apart in the industry, allowing us to offer extraordinary gaming experiences that bridge the gap between land-based and online venues. By partnering with BetMGM, we’re not just following industry trends—we’re creating them and setting the gold standard in omnichannel innovation. This initiative represents a major leap forward in connecting with players in innovative ways and demonstrates our leadership in transforming the gaming landscape,” Zoe Ebling, Vice President of Interactive at AGS, said.
Rakin’ Bacon Odyssey continues BetMGM’s mission of leveraging its omnichannel advantage and connecting online and land-based casino play. In February 2023, MGM Resorts International and BetMGM debuted MGM Riches, the companies’ first custom slot experience that can be played both online via BetMGM and as a traditional slot game at MGM Resorts properties throughout the US. BetMGM and Borgata Hotel Casino and Spa launched Dual Play Roulette on BetMGM and Borgata Online Casino in New Jersey in August 2023. Dual Play Roulette, from Evolution Gaming allows players at the physical Roulette table in the casino and online players to participate in the same game.
BetMGM’s online casino is home to over 2700 titles across North American markets and one of the largest state-by-state exclusive jackpot network. In 2023, BetMGM was named Casino Operator of the Year by SBC North America, EGR North America, Global Gaming Awards, and American Gambling Awards.
BetMGM
Octoplay Launches Jackpot Blitz with BetMGM in Ontario, Accelerating North American Expansion
Octoplay continues its expansion in North America by launching Jackpot Blitz with BetMGM in Ontario, building on the company’s continental growth strategy following its Michigan provisional license approval.
This strategic launch builds on the growing momentum with BetMGM, marking a significant milestone in Octoplay’s North American expansion, introducing the bespoke opt-in jackpot solution built in collaboration with BetMGM. The decision to expand the partnership with BetMGM demonstrates the strong relationship between the companies and sets a strong foundation for Octoplay’s continued growth across North America.
The Ontario launch builds on Octoplay’s rapid market entries over recent months, including Microgame’s network of 50 operators in Italy, Slovakia’s leading operator Niké, and Sweden’s state-owned Svenska Spel Sport&Casino. With active licenses in the UK, Sweden, Malta, Greece, Romania, Slovakia, Italy, and Belgium, Octoplay continues its accelerated expansion across both European and North American markets.
Jackpot Blitz has achieved a remarkable 88% player opt-in rate since launch. This performance, combined with BetMGM’s extensive player base, sets a strong foundation for Octoplay’s North American growth as the company prepares for launches in Michigan and additional US states in 2025.
“The launch of Jackpot Blitz with BetMGM in Ontario accelerates our North American expansion plans,” says Carl Ejlertsson, CEO at Octoplay. “Our strong partnership with BetMGM has enabled us to bring this innovative product to their Ontario players. With our proven track record of collaboration with top tier gaming operators like BetMGM, we’re ideally positioned to drive significant growth together in regulated markets across North America.”
Oliver Bartlett, VP of Gaming Product & Content at BetMGM, said: “Ontario is a key iGaming market for BetMGM, and adding Jackpot Blitz strengthens our vast collection of games. Octoplay is part of our strategy to collaborate with top-tier partners to bring the best content to our players.”
As Octoplay prepares for its Michigan launch in 2025, followed by entries into additional US states, this expansion with BetMGM represents another milestone in the company’s accelerated growth. The partnership reinforces Octoplay’s momentum as the company continues its rapid advancement in North America.
The post Octoplay Launches Jackpot Blitz with BetMGM in Ontario, Accelerating North American Expansion appeared first on Gaming and Gambling Industry in the Americas.
Strong start to 2025 affirms strategic approach and confidence of positive EBITDA in 2025
BetMGM LLC , one of the leading sports betting and iGaming operators across North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on its 1Q 2025 performance.
- BetMGM’s strong momentum from 2H 2024 continued during 1Q 2025, driven by its leading iGaming offering and strengthened sports product, and refined approach to player management
- 1Q Net Revenue up +34% YoY with strong growth across both iGaming (+27%) and Online Sports (+68%)
- Positive 1Q EBITDA and underlying trends reaffirm confidence that FY 2025 will be EBITDA positive1
Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan. The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale. In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavorable sports outcomes during key moments in the quarter. As we approach May, we remain confident in achieving full year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter.”
1Q 2025 Key Financial Highlights
| 1Q 2025 BetMGM Financial Summary1,2,3 | |||
| Three months ended March 31 |
|||
| $ millions, unless otherwise noted | 2025 | 2024 | YoY Change |
| Net Revenue | |||
| iGaming | $443 | $348 | +27% |
| Online Sports | $194 | $116 | +68% |
| Handle | $4,088 | $3,174 | +29% |
| GGR Hold % | 8.2% | 8.7% | (50)bps |
| NGR Hold % | 4.8% | 3.6% | +110bps |
| Retail / Other | $20 | $26 | (22)% |
| Total Net Revenue | $657 | $489 | +34% |
| Contribution | $116 | ($38) | +$153 |
| EBITDA | $22 | ($132) | +$154 |
| Average Monthly Actives (thousands)4 | 1,067 | 1,009 | +6% |
Financial Highlights
- 1Q Net Revenue of $657 million, up +34% YoY, continuing acceleration with strong underlying player engagement metrics
- iGaming Net Revenue up +27% YoY driven by leading iGaming offering
- Online Sports Net Revenue up +68% YoY demonstrating strengthened product offering, expansion of NGR margin, and enhanced player engagement
- Handle up +29% YoY5
- NGR margin improvement of +110 bps YoY
- Average Monthly Actives up +6% YoY, reflecting significant growth in iGaming players, partially offset by improved OSB approach to player segmentation and management
- 1Q EBITDA of $22 million (up $154 million YoY), with iGaming Contribution of $133 million and positive Contribution from Online Sports
- 1Q EBITDA benefited from one-time accounting items offset by the impact of customer friendly sports results
- Continued stabilization of GGR market share in active markets with iGaming (22%) and Online Sports (8%), further cementing BetMGM’s podium position in the market6,7
- $150 million revolving credit facility remains undrawn
Operational highlights
- Market leading iGaming offering
- 1Q Average Monthly Actives up +43% reflecting our leading iGaming offering and focused marketing investment
- Active Player Days up +39% YoY driven by unique and exclusive content across both real-money and free-to-play engagement games8
- Improved cross-sell engagement with +13 ppt YoY increase in percent of Online Sports players playing iGaming9
- Strengthened Online Sports product coupled with focus on premium mass players and improved engagement
- Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
- Growth of +4.8 ppt in parlay bet mix (inclusive of SGPs)10
- Bets per Active increased +28% YoY11
- Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
- Refined approach to player retention with improved segmentation and promotional strategy
- Handle per Active up +37% YoY12
- Active Player Days up +20% YoY
Outlook
- BetMGM’s year-to-date performance provides increased confidence in exceeding guidance, however we remain mindful it is still relatively early in the year. As such, we reaffirm our expectations for FY 2025 to be EBITDA positive, and Net Revenue guidance of $2.4 billion to $2.5 billion
- Reiterated expectations of Online Sports to be Contribution positive for FY 2025
- Reaffirmed confidence in BetMGM’s pathway to $500 million EBITDA in the coming years
The post BetMGM 1Q 2025 Business Update appeared first on Gaming and Gambling Industry in the Americas.
BetMGM, a leading sports betting and iGaming operator, announced the BetMGM Poker Championship returns to ARIA in Las Vegas Monday, June 30 to Friday, July 4, highlighting the ARIA Poker Classic Summer Series. The no-limit hold ‘em tournament has a $3,500 buy-in and offers participants a $3 million guaranteed prize pool. For the fourth consecutive year, the BetMGM Poker Championship will begin in ARIA’s Poker Room and conclude with a live-streamed Final Table at the PokerGO Studio. The ARIA Poker Classic runs May 29 through July 13 with the full schedule available at ARIA Poker on X.
“BetMGM’s relationship with MGM Resorts is our differentiator and the BetMGM Poker Championship presents a unique opportunity to connect our online players with one of the premier properties and events that Las Vegas has to offer. We are preparing to use our brand ambassadors – Darren Elias and Abby Merk – as well as our media partners, to engage with the poker community in new ways throughout the summer,” said Angus Nisbet, VP of Gaming at BetMGM.
Online qualifiers for the BetMGM Poker Championship run at 9:15 p.m. EST every Thursday and Sunday through Sunday, June 22. More than 100 players from BetMGM Poker markets including New Jersey, Michan, Pennsylvania, and Ontario (Canada) will win BetMGM Poker Championship packages that include a $3,500 Championship entry, a five-night stay at ARIA, travel credit, and a BetMGM swag bag. A full online qualifier schedule is available at BetMGMPoker.com.
Ryan Kirk, ARIA’s Director of Poker Operations, said: “ARIA has long been recognized as the epicenter of poker in Las Vegas and we’re proud, once again, to host the BetMGM Poker Championship during our ARIA Poker Classic. This event continues to raise the bar, bringing together the prestige of our world-class poker room with BetMGM’s innovative online platform. We look forward to welcoming players from across North America to experience the energy, excitement and hospitality that ARIA delivers.”
The post BetMGM Poker Championship Returns to ARIA Resort & Casino in Las Vegas June 30 – July 4 appeared first on Gaming and Gambling Industry in the Americas.
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