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)