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Sam Antar appeals dismissal of BetMGM problem-gambling case

Regulation

Sam A. Antar has appealed to the US Court of Appeals for the Third Circuit after a New Jersey district judge dismissed his case against BetMGM. Antar alleges that the operator’s staff encouraged him to gamble despite signs of problem gambling; the judge ruled that the state Consumer Fraud Act did not apply and identified the Casino Control Act as the relevant law. BetMGM and related parties previously sought dismissal and accused Antar of making false claims.

The appeal may clarify which New Jersey law governs claims alleging staff encouraged gambling despite problem-gambling signs.

End-of-day close Entain (ENT), GBp, to 29 July 2024
Story date30 April 202429 July 2024

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BetMGM reports Q3 revenue of $710 million and reaffirms 2026 guidance

BetMGM reported third-quarter net revenue of $710 million, up 7% year on year, and adjusted EBITDA of $86 million, up 112%, according to the company update. It reaffirmed full-year 2026 guidance of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in adjusted EBITDA. The update also reported a 3% decline in monthly active customers to 878,000.

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