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BetMGM

MGM RESORTS AND ENTAIN ANNOUNCE BETMGM BUSINESS UPDATE

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BetMGM, LLC, one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International and Entain plc, is providing an update on performance and outlook for 2022.

  • BetMGM is achieving market share in line with its long-term target of 20% – 25% in U.S. sports betting and iGaming
    • Number 2 operator for sports betting and iGaming across the markets in which it operates with a 24% market share for the three months to November 2021
    • Remains market leader in iGaming with 30% market share for the three months to November 2021 in the markets in which it operates
  • Live in 19 jurisdictions – 4 iGaming, 19 sports betting
    • Expects to reach approximately 40% of the U.S. adult population with 2 further jurisdiction launches as well as launch in Canada and Puerto Rico in the coming months
  • Strong financial performance in FY 2021:
    • Net revenue from operations expected to be approximately $850 million1, ahead of management expectations and up nearly 5 times from prior year
    • Same-state growth in net revenue from operations up 140% from prior year
    • FY 2021 EBITDA loss expected to be in the range of $420 – $440 million, in line with expectations
    • Cost per acquisition was in line with management’s forecast, which reaffirms the expectation of achieving a long-term acquisition cost of $250
    • Player values in line with expectations, supporting long-term total addressable market opportunity in North America of approximately $32 billion
  • FY 2022 net revenue from operations expected to be over $1.3 billion
  • Continued growth will be supported by investment in additional markets and product deployments:
    • Expecting to launch online sportsbooks in Illinois and Louisiana in the first quarter as well as retail sportsbooks in Puerto Rico and both online sportsbook and iGaming in Ontario later this year
    • Expanding our first-to-market Bingo product and the BetMGM Racing app into additional states while continuing to enhance our products in existing markets
    • Continuing to employ our returns-driven marketing strategy while further incorporating the MGM Resorts loyalty program into all aspects of our offering
    • Maintaining our market-leading customer service while prioritizing responsible gaming across all facets of our business
  • BetMGM anticipates reaching positive EBITDA in 2023, based on its current assumption of future live markets
    • We have achieved positive contribution in several states, some within one year of launch, driven by our prudent, data-driven marketing strategy and by leveraging our omni-channel offering
  • Wholly supportive of BetMGM’s continuing success, strong performance and market leadership, the investment by MGM Resorts and Entain is expected to be approximately $450 million in 2022
    • This would bring the combined total investment from MGM Resorts and Entain to approximately $1.1 billion since launch in 2018

 

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AJ Mazza

Jamie Foxx Spotlights BetMGM Casino in New Commercial

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BetMGM, a leading sports betting and iGaming operator, is premiering its first online casino commercial featuring company brand ambassador Jamie Foxx. The 30-second spot entitled “Vegas Lights” showcases the relationship between the award-winning online casino and MGM Resorts International, with Foxx using the BetMGM mobile app to illuminate iconic Las Vegas experiences with each successive tap.

“BetMGM has been a phenomenal company to work with the past few years and creating this new commercial for their online casino was no exception. I love the way the spot turned out,” said Foxx.

“Vegas Lights” follows Foxx as he travels to several of MGM Resorts’ Las Vegas destinations including Bellagio, ARIA Resort & Casino and MGM Grand. The commercial emphasizes the connection between playing online and earning in-person rewards, such as show tickets and resort accommodations. Created by BetMGM’s award-winning agency of record, Highdive, the spot was directed by the award-winning duo, The Malloys, with Superprime, and shot with renowned cinematographer Jeff Cronenweth.

Casey Hurbis, Chief Marketing Officer, BetMGM, said: “Jamie Foxx is an extraordinary talent and a pivotal part of the way we showcase the best of BetMGM. This spot brilliantly captures BetMGM’s major differentiator of blending online and in-person casino experiences.”

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Mark Gross, Highdive Co-Founder and Co-CCO, said: “No one lights up Vegas like BetMGM and Jamie Foxx. Our new ‘Vegas Lights’ spot showcases how BetMGM Casino, and its real-life connection to Vegas, can make every moment feel like a win.”

The commercial will air in the five markets across North America where BetMGM Casino currently operates including Michigan, New Jersey, Pennsylvania, West Virginia, and Ontario.

AJ Mazza, Brand Director of BetMGM, said: “Jamie is a fantastic ambassador and opens up so many creative ways to unleash our brand. His energy and humor on set was irresistible, and it was an honor to collaborate with him.”

The post Jamie Foxx Spotlights BetMGM Casino in New Commercial appeared first on Gaming and Gambling Industry in the Americas.

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BetMGM

BetMGM Launches “Gretzky Light the Lamp” Slot Game

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BetMGM, a leading iGaming and sports betting operator, has launched its latest slot game “Gretzky Light the Lamp” at the BetMGM Casino. The new slot features NHL legend and BetMGM ambassador Wayne Gretzky. Gretzky Light the Lamp is now available at BetMGM Casino in New Jersey and Michigan and will be available in additional iGaming markets where the operator is live pending regulatory approval.

“The ability to bring ‘Vegas Magic’ to its players is one of the biggest reasons BetMGM is so unique. Gretzky Light the Lamp is a great combined example of my role as a BetMGM ambassador and the company’s constant innovation,” Wayne Gretzky said.

Developed by Spinberry, an omnichannel game development studio, Gretzky Light the Lamp is a 25 line, 5×3 slot game with a hockey theme that includes free spins and wild re-spins. The game is the first to showcase Spectacular Link and Spectacular Link Frenzy. Players will see Wayne Gretzky wearing a gold and black jersey adorned with a BetMGM logo.

“Wayne Gretzky’s historic legacy in hockey makes him a wonderful ambassador for BetMGM. We are honored to create a game that showcases his likeness and brings the excitement of lighting the lamp to iGaming,” Oliver Bartlett, VP of Gaming Product & Content at BetMGM, said.

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The post BetMGM Launches “Gretzky Light the Lamp” Slot Game appeared first on Gaming and Gambling Industry in the Americas.

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Adam Greenblatt

BetMGM Secures Exclusive Online Casino Content Rights to “Family Feud” and “The Price is Right” with Fremantle Partnership

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BetMGM, a leading iGaming and sports betting operator, announced a new and exclusive online casino rights partnership with Fremantle, a world leader in creating, producing and distributing entertainment content for over 100 years. The multi-year agreement secures the intellectual property rights for iconic game shows “The Price is Right” and “Family Feud” for slots, table games, and non-traditional casino games. The partnership establishes the foundation for BetMGM to create customized online casino content around both game show brands.

“This partnership unlocks various ways for BetMGM and Fremantle to collaborate and expand our brand. ‘Family Feud’ and ‘The Price is Right’ are two of the most popular game shows in North America, and we look forward to bringing their fun and excitement to our online casino in various exciting ways,” said Adam Greenblatt, Chief Executive Officer of BetMGM.

During select weeks throughout the upcoming seasons, BetMGM will be featured as a sponsor with exclusive, never-before-seen partnership integrations for “Family Feud” and “The Price is Right”. Throughout 2025 BetMGM and Fremantle will reveal additional details on these planned partnership activations.

Suzanne Lopez, COO of Fremantle North America, said: “Our exclusive deal with BetMGM and our premier game show IP represents a significant milestone for us both. This innovative collaboration paves the way for in-game branding across diverse online casino categories, while also providing opportunities for integrated TV sponsorships. It’s all about enhancing how fans of ‘The Price Is Right’ and ‘Family Feud’ connect with the shows in fresh, immersive ways.”

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The company’s award-winning online casino is home to over 3500 titles across North American markets and one of the largest state-by-state exclusive jackpot networks. BetMGM’s jackpot network currently consists of more than 20 game titles including popular games such as MGM Grand Millions, Bison Fury, and Loot’En Khamun and the Dead Sea Scrolls.

The post BetMGM Secures Exclusive Online Casino Content Rights to “Family Feud” and “The Price is Right” with Fremantle Partnership appeared first on Gaming and Gambling Industry in the Americas.

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