TIDMENT
RNS Number : 5726V
Entain PLC
04 December 2023
For release 14:00 (GMT) 4 December 2023
BETMGM BUSINESS UPDATE
Business on Track with Key Enhancements to Drive Sustainable
Growth
BetMGM LLC ("BetMGM"), one of the leading sports betting and
iGaming operators across the U.S., jointly owned by Entain plc
(LSE: ENT) ("Entain") and MGM Resorts International (NYSE: MGM)
("MGM Resorts") will host a business update for analysts and
investors at 4.00pm GMT (11.00am EST, 8.00am PST) today.
The virtual presentation will provide the latest views on
BetMGM's performance to date, product enhancements and technology
updates, sources of competitive differentiation and financial
outlook. Following the presentations, there will be a live Q&A
session.
During the presentation, BetMGM's Chief Executive Officer Adam
Greenblatt and Chief Financial Officer Gary Deutsch will focus on
the overall strategy and outlook, including:
-- Delivery of 2023 guidance, reaching the upper end of
$1.8-$2.0 billion revenue and achieving EBITDA profitability in the
second half
-- Key enhancements in both digital sports and market-leading
iGaming product presenting the opportunity to invest competitively
behind the brand, driving accelerated player acquisition and aiding
player retention
-- Clarity on why 2024 is an investment year to drive enterprise
value for shareholders; setting a target of approximately $500m
EBITDA in 2026
The event, including registration, can be accessed through the
following link:
https://app.webinar.net/JPrvyDGj8ge
Q&A participants may access the live audio dial-in, details
below:
UK: +44 (0)800 358 0970
US: +1 888-440-3307
Conference ID: 7129324
Presentation slides will be posted prior to the event on
websites:
https://www.entaingroup.com/investor-relations/results-centre/
http://investors.mgmresorts.com/investors/events-and-presentations/
Contacts:
BetMGM
Witek Wacinski - VP Strategy & Development witek.wacinski@betmgm.com
Entain plc
Investors investors@entaingroup.com
David Lloyd-Seed - Chief IR & Communications Officer
Davina Hobbs - Head of Investor Relations
Aimee Remey - VP US Investor Relations
Callum Sims - IR Manager
Media media@entaingroup.com
Lisa Attenborough - Head of Corporate Communications
Jodie Hitch - PR Manager
MGM Resorts International
Investment Community
Andrew Chapman - Director of Investor Relations achapman@mgmresorts.com
Media
Brian Ahern - Executive Director of Communications media@mgmresorts.com
About BetMGM
BetMGM is a market leading sports betting and gaming
entertainment company, pioneering the online gaming industry. Born
out of a partnership between MGM Resorts International (NYSE: MGM)
and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of
MGM's U.S. land-based and online sports betting, major tournament
poker, and online gaming businesses. Utilizing Entain's
U.S.-licensed, state of the art technology, BetMGM offers sports
betting and online gaming via market leading brands including
BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in
2018, BetMGM is headquartered in New Jersey. For more information,
visit www.betmgminc.com .
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports-betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports Brands include BetCity,
bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet,
Sports Interaction, SuperSport and STS; Gaming Brands include Foxy
Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its
core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK and is the only global operator to
exclusively operate in domestically regulated or regulating markets
operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and
is AA rated by MSCI. The Group has set a science-based target,
committing to be carbon net zero by 2035 and through the Entain
Foundation supports a variety of initiatives, focusing on safer
gambling, grassroots sport, diversity in technology and community
projects. For more information see the Group's website :
www.entaingroup.com
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500(R)
global entertainment company with national and international
locations featuring best-in-class hotels and casinos,
state-of-the-art meetings and conference spaces, incredible live
and theatrical entertainment experiences, and an extensive array of
restaurant, nightlife and retail offerings. MGM Resorts creates
immersive, iconic experiences through its suite of Las
Vegas-inspired brands. The MGM Resorts portfolio encompasses 31
unique hotel and gaming destinations globally, including some of
the most recognizable resort brands in the industry. The Company's
50/50 venture, BetMGM, LLC, offers U.S. sports betting and online
gaming through market-leading brands, including BetMGM and
partypoker, and the Company's subsidiary LeoVegas AB offers sports
betting and online gaming through market-leading brands in several
jurisdictions throughout Europe. The Company is currently pursuing
targeted expansion in Asia through the integrated resort
opportunity in Japan. Through its "Focused on What Matters:
Embracing Humanity and Protecting the Planet" philosophy, MGM
Resorts commits to creating a more sustainable future, while
striving to make a bigger difference in the lives of its employees,
guests, and in the communities where it operates. . The global
employees of MGM Resorts are proud of their company for being
recognized as one of FORTUNE(R) Magazine's World's Most Admired
Companies(R). For more information, please visit us at
www.mgmresorts.com . Please also connect with us @MGMResortsIntl on
Twitter as well as Facebook and Instagram .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFSEFFLEDSESE
(END) Dow Jones Newswires
December 04, 2023 09:00 ET (14:00 GMT)
Entain (AQSE:ENT.GB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Entain (AQSE:ENT.GB)
Historical Stock Chart
From Dec 2023 to Dec 2024
