By SectorWire desk ·
The report said that BetMGM’s sports betting business recorded no Q2 growth as monthly active users fell 3%. BetMGM expects to reach its $500m adjusted EBITDA target later than planned, citing competition from prediction markets.
BetMGM’s earnings target is delayed as it reports pressure from prediction markets.
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The extension keeps McDavid involved in BetMGM’s responsible gambling activity as its campaigns reach new US markets.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.
The inquiry could inform MGC policy on safeguards for AI use in sportsbook marketing and responsible gaming.
A potential sale could affect operators considering commercial relationships with sports wagering media companies.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
Greenblatt expects prediction markets’ addressable market to contract before the Supreme Court hearing, while reporting BetMGM handle growth.