SPORTS BETTING: BETMGM TO RECEIVE $450M INVESTMENT TOWARDS U.S. GROWTH

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.

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.

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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