REG - Entain PLC - BetMGM Business Update

EntainAnnouncement

04/12/2023 14:00

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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 (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/
(https://www.entaingroup.com/investor-relations/results-centre/)

http://investors.mgmresorts.com/investors/events-and-presentations/
(http://investors.mgmresorts.com/investors/events-and-presentations/)

 

 

Contacts:

 BetMGM
 Witek Wacinski - VP Strategy & Development                  witek.wacinski@betmgm.com (mailto: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 (mailto:cpark@mgmresorts.com)

 Media
 Brian Ahern - Executive Director of Communications          media@mgmresorts.com (mailto: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
(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 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 (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 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® 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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