Latest News

BETMGM FIRST HALF 2024 UPDATE

Published

1 year ago

July 30, 2024

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 First Half 2024 (“1H 2024”) performance.

Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“The first half of this year has been very important in laying the groundwork for BetMGM’s future. 2024 is a year of investment, focusing on improving our customer experience and stepping up our level of investment in players. We are encouraged to see this strategy delivering accelerating momentum. We have exceeded our goals for both acquisition and retention, which should lead to higher year-over-year revenue growth for the second half of this year into 2025.

Our online sportsbook players have been enjoying Angstrom-enabled product capabilities since the start of the baseball season, and we look forward to players enjoying this across our wider sports offering leading into the NFL season. We are also very excited to bring our unique omnichannel opportunities to players by fully leveraging MGM Resorts’ presence in Las Vegas. Single Account Single Wallet will be an important driver of the customer experience, with Nevada marking its completion ahead of the NFL season. Our iGaming business continues to perform strongly with attractive returns, and to maximize this strength and momentum, we plan to deploy additional marketing in the back half of this year. Our execution roadmap, building momentum and prospects ahead all support our confidence in BetMGM’s strong future.”

1H 2024 Update

1H 2024 financial performance demonstrating accelerating momentum through the year
- Net revenue from operations of $1.0 billion, up 6% versus prior year^1,2
  - 2Q net revenue growth of 9% YoY, up from 3% in 1Q
  - 2Q online sports betting NGR per active up 16% YoY
  - 2Q iGaming average monthly actives growth of 18% YoY, up from 9% in 1Q, with no new state launches
- EBITDA consistent with expectations of 2024 being an investment year, supporting customer acquisition and enhanced player experience initiatives
  - Encouraging online sportsbook CPAs of FTDs driven by successful Super Bowl campaign
  - 1H EBITDA of –$123 million²
Established as a leading operator in North America, live in 29 markets with access to 52% of adult population³
- Continued geographic footprint expansion, with BetMGM launch of digital sports betting in North Carolina in March and district-wide in the District of Columbia in July
- 13% GGR market share in the U.S. and Ontario across Sports Betting and iGaming⁴
- Demonstrates stabilization and continued strength in iGaming with approximately 22% market share⁵
Continued focus on operational execution, delivering improved app, product capabilities, and market-leading partnerships across both digital sports and iGaming
- Enhanced Sports Product and Technology
  - Further integration of Angstrom capabilities with new markets and features for MLB and back end of NBA seasons, provided by fully in-house single game parlay (“SGP”) and SGP+ products
  - Improved player experiences with enhanced betting and SGP+ journeys, landing pages and new features including live bet tracking
    - Actives who placed an MLB SGP bet this season up 40% YoY⁶
    - Volume of weekly MLB SGP bets doubled versus last year⁶
- Leadership in iGaming
  - Market-leading jackpots – New Jersey jackpot of over $5 million expected to be the largest regulated U.S. online jackpot ever paid
  - Launched exclusive games and innovative reward mechanics with top suppliers, including GameCode and White Hat Gaming
  - Launched BetMGM Arcade, the home for ‘non-traditional’ content including LuckyTap and Crash-style games
- Best-in-Class Marketing Partnerships
  - Integration of partnerships with X, Marriott Bonvoy, and Associated Press
  - Successful Super Bowl campaign with citywide takeover of Las Vegas and iconic commercial featuring Tom Brady, Wayne Gretzky and Vince Vaughn
  - Exclusive ambassadorship with Brian Christopher Slots for all online regulated markets
Ongoing commitment to player safety, prioritizing responsible gambling across our business
- Founding member of the newly established Responsible Online Gaming Association (“ROGA”), which brings together the largest U.S. online sports betting and gaming operators to develop and advance responsible gaming practices
- Expanded the Kindbridge Health program to eight additional jurisdictions, offering self-excluded individuals referrals for problem gambling treatment
- Research and funding support via sponsorship for the International Center for Responsible Gaming
Award recognition, including
- EGR North America’s awards for both Employer and Sports Betting Operator of the Year
- Top 20 for Best Workplaces in New York^TM by Fortune
- Hashtag Sports awards for both Best Sports Betting Partnership (X/Twitter) and Best Communications Strategy

Outlook

As announced on December 4, 2023, BetMGM’s strategic roadmap assigned 2024 as an investment year, supporting enhanced player experiences and improved sportsbook product to drive long-term value for stakeholders
Coupled with an improving sportsbook offering, and building on BetMGM’s iGaming strength which already delivers over $400 million contribution annually, expectation of greater than planned marketing investment in iGaming in 2H this year⁷
Additional investment expected to be funded by bank debt
Consistent with expectation of 2024 as an investment year, expect 2H EBITDA to be similar to 1H
Pipeline of exciting opportunities ahead including key milestones:
- On track for Angstrom capabilities to be fully integrated across MLB, NBA and NFL offerings ahead of 2024 NFL season
- Single Account Single Wallet (SASW) rollout expected to be completed with Nevada in place prior to the 2024 NFL season
  - Enabling BetMGM customers in MGM Resorts properties, representing 13 million room nights annually, to sign up at one of BetMGM’s eight retail sportsbooks and return to their home state with the same wallet
  - Completing the integration of player wallets across all BetMGM markets and empowering the final Las Vegas unlock for BetMGM
Investment in our execution roadmap, accelerating momentum and opportunities ahead all support our confidence in BetMGM’s pathway to $500 million EBITDA in the coming years

Related Topics:Adam Greenblatt Chief Executive Officer of BetMGM BetMGM Entain

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WA. Technology Receives GLI Certification in Brazil for Casino Aggregator Product

Published

8 hours ago

August 1, 2025

Adrienn Sarkany

Global iGaming solutions provider, WA. Technology has earned Gaming Laboratories International (GLI) certification in Brazil for its casino aggregator product as it looks to expand its presence in South America.

Certification for its standalone casino aggregator product allows WA Technology to increase its range of integrated iGaming content supplied to operators in the Brazilian market.

This ever-expanding catalogue of content includes tens of thousands of games, cementing it as a more trusted partner for operators seeking to thrive in this market, with the added assurance that it fully complies with Brazilian regulatory requirements.

Meeting the necessary requirements for the casino product builds on WA Technology’s strong record in the region, where it already has an established presence and certified platform, with an experienced team of professionals based out of an office in Recife. This gives the business a unique understanding of the players in the country and the team to simplify any complexities that may arise for operators.

By making the aggregator a standalone product, the team can provide content to operators who are not already on the WA Technology platform, joining the likes of F12 Bet, which already uses the full turnkey sportsbook, casino and player account management.

The certification follows on from recent launches such as its Pick’Em player products for stats-led gameplay and Sportsbook Managed Service, to provide operators with more services and opportunities to grow.

Commenting on the certification, Phyllyp Sedicias, WA. Technology’s
Country Director for Brazil said: “This is a significant milestone for the business and signals our intent to expand further into the Brazilian market. I’m proud of the team’s hard work to secure this certificate and allow us to meet the market demands for casino games within this region.

“GLI certification for our casino aggregator product means we can now provide operators with additional opportunities to enhance their content through an experienced team with a proven track record in the region, which we look forward to growing our partnerships even further.”

International News

Scientific Games Wins Top Honors for Organizational Excellence in India

Published

11 hours ago

August 1, 2025

Niji Narayan

Scientific Games has been honored with the Top GCC award in the Organizational Excellence category at the GCC Workplace Awards 2025. Held on July 11, in Bengaluru, India, these awards recognize global capability centers in India that are transforming the future of work through innovation, culture and forward-thinking strategies.

This honors marks the third award in the past year for Scientific Games’ India operations, building on its 2024 Great Place to Work certification and inclusion in Jombay’s WOW Workplaces of 2025.

“Scientific Games India has proven once again that we are creating a high-performance, future-focused workplace. Our team in India plays an important role in supporting and enhancing the way we deliver technology solutions across our global lottery business,” said Pat McHugh, CEO of Scientific Games.

The GCC Workplace Award highlights Scientific Games’ exceptional progress in building a high-performance, people-first workplace supporting both business outcomes and employee well-being. The company’s Bengaluru-based operations serve as a strategic hub for software development, technology operations, research, and quality assurance.

“What makes this recognition especially meaningful is that it reflects how we’ve grown as a team, scaling up in capabilities while staying true to our company culture. Over the past year, we’ve sharpened our focus on leadership development, cross-functional collaboration and building an environment where people feel trusted to solve complex challenges,” said Mahesh Nanjundappa, Managing Director of Scientific Games India.

The GCC Workplace Awards celebrate organizations in India that are redefining what a great workplace looks like. Scientific Games was recognized from a competitive pool of 450 nominated organizations. The selection involved a rigorous, multi-stage process, including quantitative reviews, qualitative assessments of internal policies and programs and benchmarking against peer organizations. Key evaluation areas included leadership and culture, diversity and inclusion, employee well-being, innovation, and external reputation.

The judges awarded the company 5 out of 5 ratings for employee engagement and well-being, as well as workplace culture, citing strong leadership support and structured feedback mechanisms. Its formal rewards and recognition programs, comprehensive benefits including health, dental and vision coverage and diversity and inclusion efforts.

Scientific Games’ India location contributes to delivering the company’s high-performance lottery and sports betting solutions to government-regulated lotteries in 50 countries.

Latest News

NASCAR and nVenue, Bring Groundbreaking Live Probabilities to In-Season Challenge Broadcast for Fans Watching Live Racing

Published

11 hours ago

August 1, 2025

Niji Narayan

The past month marked a pivotal moment in NASCAR’s push toward innovation as NASCAR and nVenue worked to deliver a new way to watch the race. Using nVenue’s in-race betting product to focus on head-to-head matchups, nVenue’s real-time predictive probabilities for each matchup were integrated into the race broadcast.

NASCAR and nVenue have worked together since 2023 and recently reached a multi-year agreement to extend their partnership. As a data partner, nVenue has built a live betting product that allows fans to bet on hundreds of markets during races. nVenue worked with NASCAR to build out live head-to-head markets for each matchup of the In-Season Challenge.

nVenue integrated its proprietary artificial intelligence and machine learning platform for live sports with the In-Season Challenge broadcasts. The integration kicked off during the opening race of the In-Season Challenge and continued throughout the Challenge, delivering a new level of real-time insight directly into the broadcast experience.

At the same time, fans across the world were able to place bets in real-time on head-to-head driver matchups, stage winners, and dozens of new in-race markets, marking a historic first for the sport.

Behind the scenes, nVenue’s commitment to execution was on full display. Co-Founder and Chief Sports Officer, Bruce Sears, was in the production control room for the opening race, working hand-in-hand with multiple teams and resources required to bring the integration to the air.

“nVenue has been a fantastic data partner. One of the great things about nVenue’s partnership is in addition to the live betting product it has built, nVenue has the ability to turn odds into probabilities that can be shown on live broadcasts to further promote fan engagement. This lined up well with the format of the In-Season Challenge, allowing us to provide fans with a way to follow the live probabilities of each matchup throughout every lap of the race,” said Joe Solosky, NASCAR, Managing Director, Sports Betting.

“nVenue’s real-time predictive probabilities came to life during live NASCAR racing to provide a richer experience of the sport, for fans watching, betting, or both. The nVenue platform meets the incredibly demanding speed and precision required for motorsports, but also sets a new standard for fan engagement and in-race betting. It’s a testament to our team’s unparalleled expertise in bringing such complex, data-driven innovation to market at scale. Innovation has only just begun, and we are excited to continue this work with leagues, media, and sports betting to bring these worlds together for the best experiences in live sports,” said Sears.

With broadcast, betting, and data now converging on race day, this collaboration between NASCAR and nVenue is signaling the future of how fans engage with the sport, one lap at a time.