{"id":52401,"date":"2023-01-27T09:43:11","date_gmt":"2023-01-27T09:43:11","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=52401"},"modified":"2023-01-27T09:43:11","modified_gmt":"2023-01-27T09:43:11","slug":"betmgm-surpasses-revenue-targets-but-still-not-making-a-profit","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\/","title":{"rendered":"BetMGM Surpasses Revenue Targets But Still Not Making A Profit"},"content":{"rendered":"

\"\"Entain and MGM who run the joint US venture BetMGM Sportsbook have said that the business will exceed previous set target on revenues to $1.44 billion, it was previously estimated that revenues would hit the $1.3 billion mark for the full year.<\/p>\n

But even thou the revenues for the business have exceeded expectations BetMGM has still not turned a profit for the year with an EBITDA loss in the region of $440 million, in previous predictions for the full year of 2022 the companies said it expected to make a profit.<\/p>\n

However with marketing spend to keep BetMGM as the market leader as more states become legal the business failed to hit that mark.<\/p>\n

But in the statement both Entain and MGM now believe that by the first half of 2023 BetMGM will become profitable.<\/p>\n

The CEO of BetMGM Adam Greenblatt said: \u201cThe talented team at BetMGM continues to execute our plan with purpose, passion, and discipline. 2022 was a year in which we delivered against many key strategic initiatives and achieved several company milestones, including exceeding our financial targets, launching a redesigned BetMGM mobile app and furthering our commitment to Responsible Gambling.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Entain and MGM who run the joint US venture BetMGM Sportsbook have said that the business will exceed previous set target on revenues to $1.44 billion, it was previously estimated that revenues would hit the $1.3 billion mark for the full year. But even thou the revenues for the business have exceeded expectations BetMGM has […]<\/p>\n","protected":false},"author":5,"featured_media":48287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,18],"tags":[],"class_list":["post-52401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-n-america"],"yoast_head":"\nBetMGM Surpasses Revenue Targets But Still Not Making A Profit - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BetMGM Surpasses Revenue Targets But Still Not Making A Profit - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Entain and MGM who run the joint US venture BetMGM Sportsbook have said that the business will exceed previous set target on revenues to $1.44 billion, it was previously estimated that revenues would hit the $1.3 billion mark for the full year. But even thou the revenues for the business have exceeded expectations BetMGM has […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gaming-awards.com\/NEWS\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\/\" \/>\n<meta property=\"og:site_name\" content=\"iGaming Post\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-27T09:43:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2022\/01\/BetMGM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Debbie\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:site\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Debbie\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\\\/\"},\"author\":{\"name\":\"Debbie\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#\\\/schema\\\/person\\\/ec908169f7d4e72f9d6188460253f623\"},\"headline\":\"BetMGM Surpasses Revenue Targets But Still Not Making A Profit\",\"datePublished\":\"2023-01-27T09:43:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\\\/\"},\"wordCount\":197,\"publisher\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/betmgm-surpasses-revenue-targets-but-still-not-making-a-profit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/BetMGM.jpg\",\"articleSection\":[\"Gaming\",\"Headlines\",\"Latest\",\"N. 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