Net revenue from operations at BetMGM is expected to top $1.3bn in this calendar year and reach positive EBITDA next year, said the company.
The sports betting and igaming operator, jointly owned by Entain and MGM Resorts International, in an update on its performance this week, said that it is the number two operator across the markets in which it operates.
It has a 24 per cent market share for the three months to November 2021. The company said it is the market leader in igaming with 30 per cent of the market.
It is live in 19 jurisdictions, four igaming and 19 sports betting. It expects to reach around 40 per cent of the US adult population with two further jurisdictions launching as well as Canada and Puerto Rico in the coming months.
For FY 2021 net revenues will be around $850m, up 500 per cent on the previous year. EBITDA loss is expected to be in the range of $420m-$440m.
