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2024 strategic refinement and delivery underpins confidence of positive EBITDA in 2025
LAS VEGAS, Feb. 4, 2025 /PRNewswire/ — BetMGM LLC (“BetMGM”), one of the leading sports betting and iGaming operators across North America, jointly owned by MGM Resorts International (NYSE: MGM) (“MGM Resorts”) and Entain plc (LSE: ENT), is today providing an update on its Fiscal Year 2024 (“FY 2024”) performance.
BetMGM’s leading iGaming offering, strengthened sports product, and enhanced player engagement delivered accelerating growth and performance metrics through 2024. The inflection in the Online Sports strategy drives the expectation of a positive Contribution in FY 2025, with anticipated Net Revenue of $2.4 billion to $2.5 billion. BetMGM reaffirms its confidence in the pathway to $500 million EBITDA, supported by scale, revenue growth, and operational leverage.
Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “2024 was a year of investment and rebuilding of momentum for BetMGM.”
As we look towards the future, BetMGM is poised for continued success and growth in the rapidly evolving sports betting and iGaming industry.
2024 was a transformative year for BetMGM, marked by strategic refinement and delivery that sets the stage for positive EBITDA in 2025. The company’s focus on enhancing its iGaming offering, bolstering its sports product, and engaging players effectively has resulted in accelerated growth and performance metrics throughout the year.
We are particularly excited about the inflection in our Online Sports strategy, which positions us for a profitable Contribution in the upcoming fiscal year. With Net Revenue expected to reach $2.4 billion to $2.5 billion in FY 2025, we are confident in our ability to achieve positive EBITDA and continue our trajectory towards $500 million in earnings.
Adam Greenblatt’s leadership has been instrumental in guiding BetMGM through a period of investment and momentum-building, setting the stage for a successful future in the competitive sports betting and iGaming market.
How this will affect me:
As a consumer of sports betting and iGaming services, the positive performance of BetMGM in 2024 and its projected EBITDA in 2025 will likely result in a more robust and innovative product offering. This could lead to an enhanced user experience, new features, and potentially better odds and promotions for customers.
How this will affect the world:
The success of BetMGM and the overall growth of the sports betting and iGaming industry can have broader effects on the world economy. As the sector continues to expand and evolve, it could create job opportunities, drive technological advancements, and contribute to the overall economic growth in the regions where these companies operate.
Conclusion:
With a focus on strategic refinement and delivery, BetMGM has set itself up for a positive EBITDA in 2025 following a strong performance in 2024. The company’s commitment to enhancing its offerings and engaging players effectively positions it for continued success in the competitive sports betting and iGaming market.
