Press Releases

BETMGM FIRST HALF 2023 UPDATE

Published

2 years ago

July 28, 2023

George Miller

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

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 17^th, 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 17^th, 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 1^st, 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

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.

Related Topics:BetMGM Entain Plc MGM Resorts International

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Chris Barranco Joins Quick Custom Intelligence as Director of Business Development

Published

19 hours ago

August 15, 2025

Zoltan Tundik

Quick Custom Intelligence (QCI), a leading provider of AI-driven analytics and enterprise solutions for the gaming and hospitality industry, today announced the addition of Chris Barranco as Director of Business Development.

Barranco brings 25 years of experience leading high-performing teams, driving revenue, and building durable client relationships. He is adept at solution-selling methodology and full sales-cycle management, with a proven track record of mentoring top-tier account executives, delivering high-impact presentations, and retaining key accounts. Known for a tenacious approach to new-business development and customer loyalty, Barranco will focus on expanding QCI’s market footprint, strengthening the partner ecosystem, and advancing go-to-market execution across QCI’s product portfolio.

“I’m excited to join the clear market leader and work with the exceptional team at QCI,” said Chris Barranco, Director of Business Development at QCI. “QCI’s commitment to turning data into action aligns perfectly with my approach to helping customers achieve measurable revenue impact. I look forward to working closely with our clients and partners to accelerate growth and deliver exceptional outcomes.”

“We’re delighted to welcome an industry veteran of Chris’s caliber to the QCI team,” said Andrew Cardno, CTO and Co-Founder of QCI. “His leadership, mastery of solution selling, and passion for customer success will further strengthen our ability to scale, deepen client relationships, and deliver the operational results our customers expect.”

As Director of Business Development, Barranco will lead initiatives to expand QCI’s presence across key markets, refine sales enablement programs, and collaborate with product and customer success teams to ensure a seamless path from discovery to measurable value realization.

Latest News

WSOP® PARADISE 2025 REVEALS FULL TOURNAMENT SCHEDULE WITH NEW EARLY-BIRD PACKAGES

Published

1 day ago

August 14, 2025

Peter Tolan

The record-breaking poker festival in the Bahamas adds fresh events and exclusive perks for players booking early

The World Series of Poker (WSOP®) today unveiled the complete schedule for the highly anticipated WSOP Paradise 2025, which will take place at Atlantis Paradise Island in the Bahamas from Dec. 4 through Dec. 18. This announcement also introduces two new, limited-availability early-bird packages, designed to provide players with unmatched value and exclusive benefits.

This year’s festival expands on its commitment to high-stakes action with a full slate of 15 WSOP gold bracelet events:

Event	Date	Buy-In
#1 Circuit Championship Mystery Bounty NLH – $5M GTD	Dec. 4	$2.5K Advertisement
#2 Triton PLO 6-Handed	Dec. 4	$75K
#3 Triton PLO Main Event	Dec. 5	$100K
#4 High Roller Turbo NLH	Dec. 6	$50K
#5 Triton Invitational – NLH Advertisement	Dec. 7	$250K
#6 Super COLOSSUS NLH	Dec. 7	$5K
#7 Super PLOSSUS PLO	Dec. 8	$10K
#8 Triton NLH 7-Handed	Dec. 8 Advertisement	$125K
#9 Triton NLH Main Event	Dec. 9	$100K
#10 Triton NLH 8-Handed	Dec. 10	$150K
#11 Super Main Event NLH – $60M GTD	Dec. 10	$25K Advertisement
#12 8-Game Mix 6-Handed	Dec. 11	$10K
#13 High Roller PLO	Dec. 13	$50K
#14 GGMillion$ NLH – $10M GTD	Dec. 15	$25K
#15 The Closer NLH Turbo Bounty Advertisement	Dec. 16	$10K

This year’s WSOP Paradise features an expanded partnership with Triton Poker, the leading high-stakes tournament operator. In 2024, two gold bracelet events were curated by Triton; the number increases to six in 2025, with WSOP bracelets going to the winners of Event #2 Triton PLO, Event #3 Triton PLO Main Event, Event #5 Triton NLH Invitational, Event #8 Triton NLH 7-Handed, Event #9 Triton NLH Main Event and Event #10 Triton NLH 8-Handed.

To reward early registrants, WSOP is introducing two new early-bird packages for players looking to secure their seats, with both offering massive added value:

The $100K Paradise Package – limited to just 500 packages, includes a 13-night stay (Dec. 5 to Dec. 18), complimentary access to the WSOP buffet and a $500 food & beverage room credit. The deposit to secure is $10,000.
The $300K VIP Package – includes a 15 night stay (Dec. 3 to Dec. 18), complimentary access to the WSOP buffet, a $1,000 food & beverage room credit plus one á la carte meal from the Triton menu per day. The deposit to secure is $15,000.

For the first time at WSOP Paradise, resort fees are included in the package price, and the room credit is also provided for use throughout the resort. The full package amount must be played in WSOP Paradise events.

GGPoker will once again serve as the exclusive international satellite partner, aiming to send more than 1,000 players to the Super Main Event. WSOP Express and Road to Paradise qualifier tournaments are already underway in the GGPoker tournament lobby. Additionally, over 500 players are expected to qualify for the Circuit Championship through WSOP Circuit gold ring events (running from Jul. 1 through Dec. 2, 2025, both live and online), and ClubGG plans to send more than 400 players to the same event.

In an exciting new partnership, PokerStake will cover up to 50% of the unsold action for Circuit Package winners who choose to list their Super Main Event action on the platform.

“I said last year that a $50M guarantee was crazy, but adding another $10,000,000 on top is absolutely insane! The WSOP is bringing the biggest high rollers and the best poker experience possible back to paradise,” said Daniel Negreanu, GGPoker Global Ambassador. “With the new Super Mystery Bounty event and the expanded partnership with Triton, this is a can’t-miss festival for players of all levels. I can’t wait to be a part of it.”

“With the WSOP Paradise at Atlantis Paradise Island tournament schedule now set, the countdown to The Bahamas IS ON! This year’s lineup delivers an unbeatable mix of world-class events, record-breaking guarantees, and unforgettable poker moments in one of the most iconic destinations on the planet. From seasoned pros to newcomers, players from around the globe will find their place in paradise, and their shot at history,” added Joe Brunini, Chief Gaming & Customer Development Officer, Atlantis Paradise Island.

WSOP Paradise 2025 will feature a daily live stream from Dec. 12 through Dec. 18 on the WSOP YouTube channel, with CBS Sports Network television coverage planned for distribution in early 2026.

Further details on event structures and schedules will be available on the WSOP+ app. The WSOP reserves the right to cancel, change, or modify the tournament or any tournament event, in part or in whole, without notice. Entry fees will be added to all events, and up to 3% of tournament buy-ins will be withheld for staff and operational costs. Guaranteed events are paid out after deducting the percentage for costs from the total prize pool.

Please follow @WSOP on X (formerly Twitter) and Instagram or check WSOP.com for more event news and updates: wsop.com/news/2025-wsop-paradise.

For more information on WSOP Express, please visit: ggpoker.com/tournaments/wsop-express/.

To book your Atlantis stay at exclusive WSOP rates starting from $199 per night, please visit: atlantisbahamas.com/wsop-in-paradise

eSports

Fighting Game GOAT Justin Wong Joins BASILISK, Science’s Esports Team

Published

2 days ago

August 13, 2025

Peter Tolan

Nine-time Evo Champion and Guinness World Record Holder Brings Legendary Status to Captain New Team, Recruit Talent, and Advance Science’s Role in Competitive Gaming

BASILISK, the global esports organization built to champion science, today announced the signing of legendary fighting game competitor Justin ‘JWong’ Wong as captain of its newly formed Fighting Game Community (FGC) Division. Wong will lead BASILISK’s entry into the FGC by recruiting players, developing community events, and creating FGC – science crossover content.

“Justin isn’t just a competitive genius – he is a cultural icon and humble leader within the FGC,” said BASILISK co-founder Christopher Bothur. “We are incredibly proud to have him leading our FGC division and support the amazing work he already does for the community.”

A nine-time Evolution Championship Series (Evo) Champion and Guinness World Record holder, Wong brings unparalleled FGC credibility and expertise to BASILISK. His reach extends across the entire FGC fandom of millions, and he was immortalized in Evo Moment #37 which has over 100 million views.

As Captain of BASILISK FGC, Wong will leverage BASILISK’s data analytics to scout and train the next generation of FGC pros.

“Math is super important to fighting games. I’m excited to join science’s esports team,” said Wong upon joining BASILISK. “I’m passionate about finding promising players with a positive mentality and shaping them into the next big thing. I want to see somebody else in the spotlight after me and help them reach their potential. If we can discover the next world champion, that would be fantastic.”

The signing comes on the heels of BASILISK’s new partnerships with The Planetary Society and Caltech’s Institute for Quantum Information and Matter (IQIM), announced in July. These collaborations create a powerful bridge between renowned scientific institutions and gamers, which Wong will amplify to his millions of followers and fans.

“Justin is a dream addition to our organization,” added BASILISK co-founder Hans Kassier. “He exemplifies the dedication and analytical capacity required to be an esports champion or great scientist.”

Wong becomes the second “GOAT” (Greatest of All Time) to join BASILISK, alongside Finnish StarCraft 2 legend Joona ‘Serral’ Sotala, who just captured the SC2 Esports World Cup Championship in July 2025. The signing also creates opportunities for cross-over content with BASILISK’s diverse roster, including chess Grandmaster Vincent Keymer and award-winning science communicator Kyle Hill, who brings over 2.5 million followers and a vast network of science enthusiasts to the organization.