BetMGM CEO projects 2024 revenue will surpass $2B

Date:

Share post:


New York mobile sportsbooks hit a record $576.1 million in revenue for the week ending October 27, according to the New York Gaming Commission — the highest figure since betting launched in January 2022. BetMGM CEO Adam Greenblatt joins Asking for a Trend to discuss his company’s position in the sports betting landscape.

Greenblatt explains that BetMGM has prioritized “establishing our footprint” by investing extensively in their offerings, products, teams, and player acquisition to strengthen the brand. “Returns have been stellar,” he notes, adding that the company is projected to generate over $2 billion in revenues for 2024.

Greenblatt explains that BetMGM’s relationship with MGM Resorts (MGM) (which owns 50% of BetMGM), sets it apart from the competition. “We see ourselves as the sportsbook born in Vegas,” he states, citing MGM’s “premium qualities.” This partnership enables customers to earn MGM points and rewards, which he notes “reduces the cost of your next trip to Vegas.”

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Angel Smith



Source link

Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

Recent posts

Related articles

Israeli airstrikes kill 52 in east Lebanon, pound southern Beirut

Israeli airstrikes killed 52 people on Friday in eastern Lebanon, the Lebanese Ministry of Health said, while...

Man Welcomed His Alleged Killer To Campsite With A Beer Before Brutal Attack: Sheriff

A Montana man accused of killing a camper in a brutal attack initially believed to have been...

SC inmate to be executed despite calls for clemency from jurors, trial judge

About 25 people protested Friday, Nov. 1, 2024, outside Broad River Correctional Center calling for an end...

What states are getting rid of daylight saving time? These states already don't have it

It's that time of year again — get ready for the 4 p.m. sunsets. Daylight saving time...

Small cap banks, life sciences stocks look attractive, says CIO

STORY: There are "a lot of great small cap names and that space where you got to...

Peanut the Squirrel, social media star, seized from New York home leaving owner, fans upset

A wild animal turned social media star was confiscated from his New York residence this week, and...

Nate Silver: ‘Cheating’ Pollsters Are Putting ‘Finger on the Scale’

Polling data expert Nate Silver slammed election forecasts showing a close race between presidential candidates Kamala Harris...

Starting a small business? Here's how to grow it.

According to the Bureau of Labor Statistics, small businesses contributed 55% of total net job creation from...