BetMGM reports strong 2023 performance with $1.96bn revenue, positive EBITDA in H2 and expansion into new markets. BetMGM, jointly owned by Entain plc and MGM Resorts International, has disclosed its performance update for fiscal year 2023. The company’s unaudited results indicate financial growth, with net revenue from operations reaching $1.96bn, marking a 36% year-over-year increase and aligning with the upper end of the $1.8bn – $2.0bn guidance range. Key highlights of BetMGM’s fiscal year 2023 performance include: Financial Growth: BetMGM’s net revenue from operations witnessed a 36% year-over-year increase to $1.96bn. Same-state growth in net revenue from digital operations stood at 14%. Operational Milestones: BetMGM achieved positive EBITDA in the second half of 2023, with an expected EBITDA loss of approximately $67m for the fiscal year. Market Expansion: BetMGM strengthened its position as an operator in North America, operating in 28 markets and accessing 49% of the adult population. During fiscal year…
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