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BetMGM expects to turn profitable in 2025 following e-betting boom
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BetMGM expects to turn profitable in 2025 following e-betting boom
Feb 4, 2025 4:47 AM

Feb 4 (Reuters) - U.S. sports-betting service BetMGM

said on Tuesday it expects to turn a profit in 2025, boosted by

an enhanced online presence following the integration of

Angstrom Sports and strength in its iGaming segment.

BetMGM, a joint venture between MGM Resorts ( MGM ) and

Entain ( GMVHF ), has been driving up efforts to expand its online

operations to cash in on the e-betting boom, as regulatory

pressures to tackle gambling addiction intensify in the U.S.

The betting firm expects to report a core profit with net

revenues of $2.4 billion to $2.5 billion for the full-year.

It posted a core loss of $244 million for fiscal year

2024, in line with its expectations after a year of increased

investments, against the $67 million loss reported a year

earlier.

Shares in Entain ( GMVHF ) were up 7.3% at 745.4 pence at 1215

GMT.

(Reporting by Anandita Mehrotra and Yamini Kalia in Bengaluru;

Editing by Savio D'Souza and Mrigank Dhaniwala)

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