A drone view shows an advertisement for the online sports betting company BetMGM at Fenway Park in Boston, Massachusetts, U.S., June 18, 2024. REUTERS
June 16 (Reuters) – Ladbrokes owner Entain said on Monday BetMGM, its U.S. sports-betting joint venture with MGM Resorts, raised its annual revenue and core earnings forecast, driven by strong growth in its iGaming and online sports divisions.
BetMGM, which has been growing its online presence and capitalising on a booming e-betting market, now expects revenue of at least $2.6 billion and core earnings of at least $100 million in fiscal 2025, Entain said.
It had earlier forecast revenue of between $2.4 billion and $2.5 billion, and positive earnings before interest, taxes, depreciation, and amortization (EBITDA).
Reporting by Shashwat Awasthi in Bengaluru; Editing by Rashmi Aich
