BetMGM

BetMGM To Launch Mobile Sports Betting In Tennessee On Nov. 1

Published

5 years ago

October 29, 2020

BetMGM today announced plans to launch its market leading sports betting app in Tennessee on Nov. 1.

“We’ve been eagerly working with regulators in Tennessee to make this momentous launch a possibility and look forward to introducing the state’s passionate fan bases to the excitement of betting on sports with BetMGM,” said BetMGM CEO Adam Greenblatt. “Our relationship with MGM Resorts enables BetMGM users in the Volunteer State to earn rewards, from hotel suites to dinners at award-winning restaurants, all while engaging in the excitement of our cutting-edge sports betting experience.”

BetMGM’s integration with MGM Resorts’ M life Rewards program allows BetMGM users in Tennessee to translate their gameplay into world-class experiences at iconic resort properties, from Bellagio and MGM Grand in Las Vegas, to Beau Rivage in Mississippi and MGM National Harbor in Maryland, among others.

This announcement comes on the heels of BetMGM’s partnership with the NFL’s Tennessee Titans – the first-of-its-kind for the state between a professional sports team and a sports betting platform. Tennessee marks the seventh state where BetMGM’s sports betting app is available, joining Colorado, Indiana, Mississippi, Nevada, New Jersey and West Virginia.

Prague Gaming & TECH Summit 2025 (25-26 March)

The BetMGM app offers an exciting and user-friendly sport betting experience, making it easy to customize pre-game, live in-play, futures and parlay wagers. Sports bettors can select from a wide assortment of bet options as well as teams and leagues to bet on.

As BetMGM continues to expand its sports betting platforms to new states, responsible gaming education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly.

SOURCE MGM Resorts International

BetMGM

Octoplay Launches Jackpot Blitz with BetMGM in Ontario, Accelerating North American Expansion

Published

5 days ago

May 6, 2025

GamingAmericas.com

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.

Adam Greenblatt Chief Executive Officer of BetMGM

BetMGM 1Q 2025 Business Update

Published

2 weeks ago

April 30, 2025

GamingAmericas.com

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 Summary^1,2,3
	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 market^6,7
$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
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

BetMGM Poker Championship Returns to ARIA Resort & Casino in Las Vegas June 30 – July 4

Published

2 weeks ago

April 24, 2025

GamingAmericas.com

betmgm-poker-championship-returns-to-aria-resort-&-casino-in-las-vegas-june-30-–-july-4

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.