A report says BetMGM is concentrating on higher-value betting and online casino markets in the US.
BetMGM’s focus on higher-value betting and online casino markets signals its competitive priorities in the US.
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BetMGM Rewards is adding live-event ticket redemptions through Gametime, according to the headline. The source text was not available, so further details of the arrangement are not stated.
Reportedly, BetMGM is directing more marketing towards New Jersey, Pennsylvania, Michigan and West Virginia, where it offers both online casino and sportsbook products. Online casino generated approximately 68% of Q3 revenue, with revenue from that segment increasing 6% year on year to $483m.
Online casino accounted for roughly 68% of BetMGM's third-quarter revenue, and the operator now plans to concentrate more marketing spending on the four markets where it runs both a casino product and a sportsbook. Those states are New Jersey, Pennsylvania, Michigan and West Virginia. By contrast, the company's mobile sportsbook is regulated and available in 25 jurisdictions. Online Poker Report covered the shift, drawing on a company release and the earnings call.
BetMGM has extended its partnership with Edmonton Oilers captain Connor McDavid and plans to launch a new advert featuring him, reportedly after Alberta’s iGaming market opened. The pair have worked together since 2022, mainly promoting BetMGM’s responsible gambling tools.
SportsGrid has reportedly been marketed to potential buyers since summer, with Telos Advisors leading the sale process, according to a report. The company generated about $20 million in revenue in 2022, but revenue fell in subsequent years after it lost major sportsbook partnerships, including with FanDuel and BetMGM. The expected sale value was not disclosed.
SportsGrid is reportedly seeking a buyer with help from investment bank Telos Advisors, citing an unnamed source first reported by Front Office Sports. The company has reportedly held talks with potential buyers for several months, and one possible lead buyer has emerged. SportsGrid’s revenue has declined in recent years after it lost major sportsbook partnerships with operators such as FanDuel and BetMGM.
SportsGrid, a sports wagering media network, is reportedly working with investment bank Telos Advisors to find a buyer, according to an unidentified source cited in a report. The company has reportedly held talks with prospective buyers for several months, and one potential lead buyer has emerged. The identity of that buyer was not disclosed.