Mgm resorts international and entain announce betmgm investor day highlights
Las vegas, april 21, 2021 /prnewswire/ -- betmgm, llc ("betmgm"), one of the leading sports betting and igaming operators in the u.s., jointly owned by mgm resorts international (nyse: mgm) ("mgm resorts") and entain plc (lse: ent) ("entain"), is today providing a business update setting out the key drivers of its strong momentum and future expectations as it delivers a market leading position in the u.s. as part of the investor day, betmgm announces the following: betmgm is the number one market leader across the u.s. in igaming with a market share of 23% over the three months ended february 2021, and is on course to take the number two spot in u.s. sports betting and igaming overall sports betting & igaming continues to accelerate across north america. as such, betmgm now expects the total long-term addressable market in the u.s. and canada to be approximately $32 billion with continued strong momentum in its business, betmgm now expects that, as a leading operator, it will drive long-term market share of approximately 20% - 25% in the u.s. betmgm expects to achieve $1 billion of net revenue from operations in 2022 the investment by mgm resorts and entain this year is expected to be approximately $450 million, incremental to the $210 million already invested until the end of 2020 further details will be presented at the investor day event.
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