By SectorWire desk ·
The report said that BetMGM’s second-quarter revenue reached $711m. The operator released financial updates covering both the quarter and first half.
The update gives investors a second-quarter revenue figure for BetMGM.
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BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
The update shows modest revenue growth falling short of market expectations.
The revised expectation delays BetMGM’s targeted earnings milestone.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
BetMGM and MGM Resorts’ funding supports gambling research, state councils, the 1-800-GAMBLER helpline and the Evive Foundation.