financetom
Business
financetom
/
Business
/
BetMGM expects to turn profitable in 2025 following e-betting boom
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Aramco second-quarter profit drops 3.4% on lower volumes, refining margins
Aramco second-quarter profit drops 3.4% on lower volumes, refining margins
Aug 5, 2024
DUBAI (Reuters) -Oil giant Saudi Aramco on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins. Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June 30, beating a company-provided median estimate from 15 analysts of $27.7 billion. Dividends of $31.1 billion were declared for the...
SoftBank seen posting modest profit in Q1, buyback potential in focus
SoftBank seen posting modest profit in Q1, buyback potential in focus
Aug 5, 2024
TOKYO, Aug 6 (Reuters) - Japan's SoftBank Group is expected to report a modest first-quarter profit on Wednesday but investors are set to hone in on whether the tech investment giant will either announce a major share buyback or flag its willingness to embark on one. The results come amid much market turmoil, particularly for large-cap Japanese stocks and major...
Norway salmon farming industry grapples with harsh climate effects
Norway salmon farming industry grapples with harsh climate effects
Aug 5, 2024
(Reuters) - Norwegian salmon farmers face challenges from an unusually harsh winter and the El Nino climate phenomenon which led to record fish mortality and concerns over long-term forecasts ahead of a warmer summer. El Nino - a climate pattern raising temperatures across the planet - followed by colder waters and a 20-year high in jellyfish attacks have driven fish...
Palantir CEO Alex Karp Warns Of Severe 'Violent Interactions' In Middle East, Reaffirms Support For Israel — Stock Surges Over 12% In After-Hours Trading
Palantir CEO Alex Karp Warns Of Severe 'Violent Interactions' In Middle East, Reaffirms Support For Israel — Stock Surges Over 12% In After-Hours Trading
Aug 5, 2024
Palantir Technologies Inc ( PLTR ) CEO Alex Karp issued a stark warning about potential conflicts in the Middle East, in the second-quarter earnings call. What Happened: Karp warned of a possible escalation of conflicts in the Middle East, emphasizing the company’s commitment to supporting U.S. interests in the region. “The world is on the precipice of what could be a...
Copyright 2023-2026 - www.financetom.com All Rights Reserved