REG - Entain PLC - Notice of BetMGM Update

EntainAnnouncement

14/01/2022 14:05

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RNS Number : 5208Y  Entain PLC  14 January 2022

14 January
2022

 

ENTAIN AND MGM RESORTS INTERNATIONAL

Notice of BetMGM update

 

 

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 release an update on
Wednesday 19(th) January 2022 at 1.30 pm UK (8.30am EST).

 

The statement will provide an update on BetMGM's 2021 performance and outlook
for 2022.

 

BetMGM will host a conference call at 3.00pm UK (10.00am EST), which will
include an overview of its results, followed by a brief Q&A session.  The
call will be accessible via the Internet through
https://www.webcaster4.com/Webcast/Page/2832/44324
(https://www.webcaster4.com/Webcast/Page/2832/44324) or by dialling:

 

U.S. (Toll Free):                     +1 (877) 871-3172

U.K.:
 
+44 (0) 20 3147 4901

International:                        +1 (412) 902-6603

Conference access code: 3122358

 

A replay of the call will be available at
https://entaingroup.com/investor-relations/results-centre/
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fentaingroup.com%2Finvestor-relations%2Fresults-centre%2F&data=04%7C01%7CDavina.Hobbs%40entaingroup.com%7Cb32ef304a1c143a347b108d8f9a6c213%7C60c43c0a64ac4050bf3e31e1cdfffdeb%7C0%7C0%7C637533842631221669%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=exRCE8M4fac2VFZ9ViQFfKGQl5vTXIv0SId5UKGCnWw%3D&reserved=0)

 

Contacts:

 BetMGM
 Elisa Richardson

 press@betmgm.com (mailto:press@betmgm.com)

 Head of Public Relations & Communications
 Entain plc
 Investor Relations

 David
 Lloyd-Seed
 investors@entaingroup.com (mailto:investors@entaingroup.com)

 Group Director of Investor Relations & Corporate Communications

 Davina Hobbs

 Head of Investor Relations

 News Media

 Tessa
 Curtis
 media@entaingroup.com

 Head of Media Relations

 MGM Resorts International
 Investment Community

 Catherine Park

 cpark@mgmresorts.com (mailto:)

 Executive Director, Investor Relations

 News Media

 Brian Ahern

 media@mgmresorts.com (mailto:media@mgmresorts.com)

 Executive Director, Media Relations

 

 

LEI: 213800GNI3K45LQR8L28

 

Forward-looking statements

This document contains certain statements that are forward-looking statements.
They appear in a number of places throughout this document and include
statements regarding our intentions, beliefs or current expectations and those
of our officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity, prospects, growth,
strategies and the business we operate. These forward-looking statements
include all matters that are not historical facts. By their nature, these
statements involve risks and uncertainties since future events and
circumstances can cause results and developments to differ materially from
those anticipated. Any such forward-looking statements reflect knowledge and
information available at the date of preparation of this document. Among the
important factors that could cause actual results to differ materially from
those indicated in such forward-looking statements include the significant
competition within the gaming and entertainment industry; BetMGM's ability to
execute on its business plan; changes in applicable laws or regulations,
particularly with respect to iGaming and online sports betting; BetMGM's
ability to manage growth and access the capital needed to support its growth
plans; and BetMGM's ability to obtain the required licenses, permits and other
approvals necessary to grow in existing and new jurisdictions. In providing
forward-looking statements, Entain is not undertaking any duty or obligation
to update these statements publicly as a result of new information, future
events or otherwise, except as required by law. Other than in accordance with
its legal or regulatory obligations (including under the Market Abuse
Regulation (596/2014), the Listing Rules, the Disclosure Guidance and
Transparency Rules and the Prospectus Rules), Entain undertakes no obligation
to update or revise any such forward-looking statements. Nothing in this
document should be construed as a profit forecast. Entain and its directors
accept no liability to third parties in respect of this document save as would
arise under English law.

 

Non-GAAP Financial Information

This press release includes projected net revenue from operations, which has
not been prepared in accordance with GAAP. BetMGM believes this presentation,
which it uses for its own analysis of operations, is useful in that it
reflects the true economic performance of the business. If BetMGM presented
net revenue from operations in accordance with GAAP, then BetMGM would present
the revenues associated with its Nevada digital and retail sports betting
operations different, until such time as BetMGM is licensed as a Nevada gaming
operator. Currently under GAAP, its calculation of Net Revenue would be on a
basis net of operating costs, such that the GAAP reported Net Revenue would be
lower than the Net Revenue reported herein, with Net Income remaining the
same.

 

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 Resorts' 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 http://www.betmgminc.com/
(http://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 bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and
Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco
Digitale, 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's joint-venture with MGM Resorts International, BetMGM, is a leader
in sports-betting and iGaming in the US. Entain provides the technology which
powers BetMGM and exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK with licenses in
a total of 27 regulated markets. 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
(http://www.entaingroup.com)

 

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500® 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 32 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. 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
(https://www.mgmresorts.com/en/company/csr.html) , 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® Magazine's World's Most Admired
Companies®. For more information, please visit us at www.mgmresorts.com
(https://nam11.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.mgmresorts.com%2F&data=02%7C01%7C%7Cc0dc1390d0904f667a7108d859a99f07%7Cc64a4fa65c9344ee83651e8c8c86f41a%7C0%7C0%7C637357932355339142&sdata=pi4SrXbP6AHPM%2F3tbPdGbDiN5gaHaVOcwgRF7e6iYo0%3D&reserved=0)
. Please also connect with us @MGMResortsIntl on Twitter
(https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2FMGMResortsIntl&data=02%7C01%7C%7Cc0dc1390d0904f667a7108d859a99f07%7Cc64a4fa65c9344ee83651e8c8c86f41a%7C0%7C0%7C637357932355339142&sdata=Edzh21FkcebIrXkOZzP%2FERFy38qvF6lPhiDuW8jGCO4%3D&reserved=0)
as well as Facebook
(https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2Fmgmresorts&data=02%7C01%7C%7Cc0dc1390d0904f667a7108d859a99f07%7Cc64a4fa65c9344ee83651e8c8c86f41a%7C0%7C0%7C637357932355349136&sdata=GWuYqi0PleUBlZrV2BIU8DKiG9cHQOsSlnrQMYAi8Fc%3D&reserved=0)
and Instagram
(https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Fmgmresortsintl&data=02%7C01%7C%7Cc0dc1390d0904f667a7108d859a99f07%7Cc64a4fa65c9344ee83651e8c8c86f41a%7C0%7C0%7C637357932355349136&sdata=aCKNsXspnc3RYL5spHtEs0tuL92OPB4ndD4Ij7MR4Fw%3D&reserved=0)

 

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