Press Releases
BETMGM FIRST HALF 2023 UPDATE

NET REVENUE FROM OPERATIONS OF $944 MILLION IN FIRST HALF OF 20231
POSITIVE EBITDA FOR THE FULL SECOND QUARTER OF 20232
BetMGM, one of the leading sports betting and iGaming operators in North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on First Half of 2023 (“1H 2023”) performance and outlook for full-year 2023.
Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“I am pleased with the significant progress we have made during the first half of 2023 as we continue our strong growth and remain on our path to profitability. Our financial guidance for the year remains on track – we expect to deliver $1.8 to $2.0 billion in full year revenue, as well as to be EBITDA positive in the second half of 2023. In fact, we have already achieved positive EBITDA for the full second quarter of this year. Our focus remains on building a sustainable, scalable and returns focused business with leading products that our players enjoy responsibly. We look forward to the remainder of the year, buoyed by ongoing product improvements, tremendous support from our shareholders providing access to new assets and partnerships, and – above all – our extraordinary team at BetMGM.”
- BetMGM finished 1H 2023 with strong financial performance
- Net revenue from operations of $944 million, on track to deliver at the upper end of previous guidance range for FY 2023 revenue of $1.8 to $2.0 billion
- 1H same-state growth of 25% in net revenue from digital operations
- Reached the key milestone of positive EBITDA for 2Q 2023
- Improved same state CPAs by 8% in 1H 2023 year on year
- Bonus optimization and player management program continuing to have significantly positive impact, delivering enhanced GGR to NGR conversion:
- Sports NGR margin increased by 300 bps in 1H 2023 year on year
- Digital sports 1H revenue per player up by 65% for players acquired in 2021 or earlier
- Each of the annual cohorts of digital sportsbooks launched from 2019 through 2022 delivered positive Contribution Profit in 2Q3
- Net revenue from operations of $944 million, on track to deliver at the upper end of previous guidance range for FY 2023 revenue of $1.8 to $2.0 billion
- Remain on track for previously stated guidance of EBITDA positive in the second half of 2023 (“2H 2023”)
- Includes investment in upcoming launches in Kentucky and North Carolina that were not originally planned during 2023
- Expectation that BetMGM will become self-sustaining in 2H 2023, with no additional equity investment expected from MGM Resorts or Entain after the $150 million previously committed for 2023
- Established as a leading sports betting and iGaming operator in North America
- Continued geographic footprint expansion in 1H 2023, with new digital sports betting launches in Ohio, Massachusetts, and Puerto Rico
- Live in 26 jurisdictions, including Ontario, with access to approximately 48% of the adult population in the United States4
- Market share across iGaming and sports betting of 18%5
- Continued market leadership in iGaming with approximately 27% market share6
- Online sports betting market share of 11%, with 13% share in markets where BetMGM was live on day one6
- Entain and MGM Resorts contributed new technology, resources, and relationships to accelerate both BetMGM’s product evolution and its access to players
- Entain’s acquisition of pricing and risk specialist Angstrom, announced on July 17th, will enhance BetMGM’s sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering, and provide players with a greatly improved experience
- In connection with MGM Resorts’ exclusive partnership with Marriott, announced on July 17th, BetMGM entered into a loyalty marketing agreement with Marriott whereby BetMGM will offer customers extensive opportunities to earn Marriott Bonvoy points while playing with BetMGM, create exclusive games and experiences, and allow customers to exchange BetMGM Rewards points into Marriott Bonvoy points
- Various platform and product enhancements delivered to provide a more exciting and seamless experience. We’re on track with the rollout of Single Account Single Wallet
- Ongoing commitment to player safety, prioritizing responsible gambling across our business
- Five-year extension to GameSense partnership, announced on March 1st, continues BetMGM’s prominence of responsible gambling messages in its digital and out-of-home marketing campaigns, as well as in its mobile app and retail sportsbooks
- Through its GameSense partnership, BetMGM provides customers with information about how to bet responsibly, setting limits, dispelling myths, and finding support and assistance
- BetMGM awarded one of the Responsible Gambling Council’s top accreditations for integration of responsible gambling and player protection into platforms and operations
- Five-year extension to GameSense partnership, announced on March 1st, continues BetMGM’s prominence of responsible gambling messages in its digital and out-of-home marketing campaigns, as well as in its mobile app and retail sportsbooks
- Award recognition including
- Casino Operator of the Year by EGR North America (second year in a row)
- Casino Operator of the Year at SBC Awards North America (third year in a row)
- 2023-2024 Great Place to Work Certification™
Notes:
1: 1H 2023 net revenue for BetMGM on a GAAP basis is expected to be approximately $923 million, including approximately $32 million related to Nevada MGM Resorts operations for which BetMGM records on a net basis as BetMGM is considered to be the agent in the Nevada transactions for GAAP purposes.
2: 1H 2023 Revenue and EBITDA figures are unaudited.
3. Contribution Profit for a particular state reflects Net Gaming Revenue minus direct costs (excluding depreciation and amortization and people costs) considered under GAAP presentation of Gross Profit plus marketing acquisition spend.
4: BetMGM operates iGaming and Sports Betting in five markets and Sports Betting in twenty-one markets.
5: Market share for last three months ending April 2023 by GGR including iGaming, retail and online sports betting, and only U.S. markets where BetMGM was active excluding New York; internal estimates used where operator-specific results are unavailable.
6: Market share for last three months ending April 2023 by GGR, including only U.S. markets where BetMGM was active and excluding New York in online sports; internal estimates used where operator-specific results are unavailable.
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Win Systems successfully held Its exclusive Showroom in Peru

Win Systems, a leading provider of technology for the gaming and entertainment industry, successfully concluded its exclusive showroom event on May 28 and 29 at its offices in Lima, Peru. Over two engaging days, local operators and strategic partners had the opportunity to experience the company’s latest innovations first-hand, with special attention given to the new Gold Club Colors, an innovative evolution of its renowned electronic roulette.
The experience was highly praised by attendees, who interacted directly with the Gold Club Colors and witnessed its advanced aesthetic and functional customization features. This version allows key components such as LED lighting, armrests, cilinder, and game layout to be tailored to the visual identity of each casino, enhancing both the venue’s atmosphere and the overall player experience. Also drawing strong interest was the dynamic paytable, which adjusts rewards based on the flow of each game session.
“This event was truly special for us. Beyond showcasing our products, we wanted to create a space to connect, share ideas, and listen to the local market’s needs firsthand. The response was fantastic and encourages us to continue strengthening our presence in Peru,” said Galy Olazo, Country Manager for Win Systems in Peru.
The showroom not only demonstrated one of the most advanced electronic roulettes on the market in action but also reaffirmed Win Systems’ commitment to ongoing innovation and close collaboration with its clients and strategic partners.
Conferences
Belatra to showcase Next-Generation slots at Peru Gaming Show 2025

Belatra Games, the specialist online slots developer, is ready for its latest appearance at the Peru Gaming Show, where it will unveil its latest slot design developments for the Latin American market and beyond.
Belatra will be based at Stand 43 over the two-day event in Lima, giving visitors an exclusive behind-the-curtain look at its latest slot releases, as well as a chance to explore the company’s expanding portfolio of successful, market-ready solutions. Belatra will also run a special competition, offering guests the chance to get their hands on a mystery box bursting with prizes.
In addition to enjoying Belatra’s titles, guests will be able to sample several cocktails inspired by ancient Incan recipes. The bespoke bar is designed as a hidden tomb brimming with treasure, bringing a bold energy and a fun atmosphere to the stand.
Renowned for its engaging gameplay mechanics with attractive creative concepts, Belatra’s studio excels in producing games that connect with diverse player audiences across Latin America. Visitors to the Jockey Exhibition Center, Lima, will be able to experience both fan-favourite titles and brand-new innovations firsthand, while connecting with the Belatra team to explore business opportunities and partnership potential.
Belatra invites all attendees to visit Stand 43 and join the conversation on redefining the future of iGaming in Latin America.
Andrés Troelsen, Belatra Games’ Commercial Director for Latin America, said: “I cannot wait to be back at the Peru Gaming Show as it’s one of the biggest on the LatAm events roadshow. Being in Lima allows us to showcase our next generation of content and connect with current and prospective partners.”
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BMM TESTLABS PROMOTES KARINA ADDARI TO VICE PRESIDENT OF GLOBAL DIGITAL SERVICE DELIVERY

BMM Testlabs (“BMM” or “the Company”), the world’s original gaming test lab renowned for exceptional product compliance and certification services, today announced the promotion of Karina Addari to Vice President of Global Digital Service Delivery. In this new role, Addari will lead BMM’s global digital professional services delivery (PSD) operations, driving excellence in compliance, quality assurance, project management, and product certification across multiple regions.
Addari joined BMM in 2023, bringing over 25 years of cross-industry operations and project management experience. In her most recent role as BMM’s Director of Service Delivery for Europe and South America, she managed teams across multiple international branches, consistently exceeding revenue targets and optimizing operational efficiency.
Before joining BMM, Addari held numerous professional roles, including Adjunct Professor at the University of Kansas’ School of Professional Studies and School of Engineering; Senior Manager, Operations Strategy at Hostess Brands; and Program Manager for H&R Block.
BMM Chief Operations Officer Kara Matthew said, “Karina has made a tremendous impact at BMM. Her commitment to excellence, strategic mindset, and ability to empower diverse teams has driven impressive results. This promotion reflects her outstanding leadership and our confidence in her continued contributions as we continue to expand our global operations to meet customer needs.”
In her new role, Addari will continue to champion operational effectiveness, cultural collaboration, and customer-focused service delivery, reinforcing BMM’s position as a trusted partner to gaming suppliers and regulators worldwide.
Addari earned a PhD in Organization and Management with a specialization in Leadership, a Master of Arts in International Business, and a Bachelor of Arts in Business Administration. She is also a certified Project Management Professional (PMP) and Lean Six Sigma Black Belt.
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