MGM Resorts (MGM)and Entain Plc's joint venture, BetMGM, expects net revenues from operations to be more than $1.3 billion in 2022.
(Reuters) -BetMGM raised its 2022 revenue forecast to more than $1.3 billion from $1 billion on Wednesday and said it expects a core profit in 2023 as the U.S. sports-betting joint venture between MGM Resorts and Britain's Entain expands. The online sportsbook for betting on NFL American football and NBA basketball was in the spotlight last year when both MGM and DraftKings tried and failed to take over Entain. Gambling companies have been looking to capitalise on the growing U.S. sports-betting market, while online gaming has also taken off since the start of the coronavirus pandemic.
MGM Resorts' (MGM) BetMGM continues to strengthen its sports betting presence. The company receives approval for online operations from the New York Gaming Commission.