Entain: BetMGM is 'challenging' for top spot in US sports betting market |  This is Money

MGM Resorts International and Entain are doubling down on their online betting venture, just as one of the biggest U.S. betting markets opens to mobile betting.

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The companies are investing around $450 million in BetMGM this year, the online sportsbook that they co-own. The fresh cash will be deployed toward growth into new markets and new products.

BetMGM anticipates $1.3b in net revenue in fiscal 2022.

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BetMGM earned $850 million in revenue in the past year, ahead of management expectations and up nearly five times from 2020.

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