Latest News
MGM RESORTS AND ENTAIN ANNOUNCE BETMGM BUSINESS UPDATE
BetMGM, LLC, one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International and Entain plc, is providing an update on performance and outlook for 2022.
- BetMGM is achieving market share in line with its long-term target of 20% – 25% in U.S. sports betting and iGaming
- Number 2 operator for sports betting and iGaming across the markets in which it operates with a 24% market share for the three months to November 2021
- Remains market leader in iGaming with 30% market share for the three months to November 2021 in the markets in which it operates
- Live in 19 jurisdictions – 4 iGaming, 19 sports betting
- Expects to reach approximately 40% of the U.S. adult population with 2 further jurisdiction launches as well as launch in Canada and Puerto Rico in the coming months
- Strong financial performance in FY 2021:
- Net revenue from operations expected to be approximately $850 million1, ahead of management expectations and up nearly 5 times from prior year
- Same-state growth in net revenue from operations up 140% from prior year
- FY 2021 EBITDA loss expected to be in the range of $420 – $440 million, in line with expectations
- Cost per acquisition was in line with management’s forecast, which reaffirms the expectation of achieving a long-term acquisition cost of $250
- Player values in line with expectations, supporting long-term total addressable market opportunity in North America of approximately $32 billion
- FY 2022 net revenue from operations expected to be over $1.3 billion
- Continued growth will be supported by investment in additional markets and product deployments:
- Expecting to launch online sportsbooks in Illinois and Louisiana in the first quarter as well as retail sportsbooks in Puerto Rico and both online sportsbook and iGaming in Ontario later this year
- Expanding our first-to-market Bingo product and the BetMGM Racing app into additional states while continuing to enhance our products in existing markets
- Continuing to employ our returns-driven marketing strategy while further incorporating the MGM Resorts loyalty program into all aspects of our offering
- Maintaining our market-leading customer service while prioritizing responsible gaming across all facets of our business
- BetMGM anticipates reaching positive EBITDA in 2023, based on its current assumption of future live markets
- We have achieved positive contribution in several states, some within one year of launch, driven by our prudent, data-driven marketing strategy and by leveraging our omni-channel offering
- Wholly supportive of BetMGM’s continuing success, strong performance and market leadership, the investment by MGM Resorts and Entain is expected to be approximately $450 million in 2022
- This would bring the combined total investment from MGM Resorts and Entain to approximately $1.1 billion since launch in 2018
Latest News
Endorphina Enters into Partnership with Luckia
Endorphina has entered into a partnership with Luckia, a leading company in the gaming sector. Combining Endorphina’s passion for slots with Luckia’s innovative spirit, this partnership is set to provide incredible gaming experiences to all iGaming enthusiasts.
Endorphina’s Senior Partnership Manager, Zdenek Llosa, shared his excitement about the partnership: “We are thrilled to join forces with Luckia, a respected and influential operator in Colombia, Spain, Mexico, and Portugal. This partnership is a significant step forward in our global expansion strategy, allowing us to reach new players and markets. We are confident that Luckia’s players will appreciate the quality and diversity of our games, and we look forward to a fruitful and enduring collaboration.”
Luckia is a commercial brand of Luckia Gaming Group that combines offline and online gaming, including traditional businesses such as gaming machines in bars and restaurants and gaming arcades, new online gaming activities, and land-based sports betting. By advancing the current concept surrounding gaming, Luckia aims to provide an extensive entertainment experience, democratizing gaming and making it a social, accessible, and trust-inspiring activity.
Eloy Fernandez, Head of Product at Luckia, said: “We’re thrilled to announce our new partnership with Endorphina, with Mexico being the first market to go live with their creative slot content on Luckia’s platform! Endorphina’s distinctive games will not only enhance our offering but also provide a fresh and engaging experience for our Mexican players. Their unique approach aligns with our mission to elevate entertainment and optimize our services in key markets.”
Compliance Updates
eCOGRA Approved to Operate in Arizona, Indiana and Panama
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
Latest News
Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro
Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.
With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.
Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.
Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users. Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”
Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.
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