BetMGM expects to reach 40% of US market in 2022

BetMGM expects to reach 40% of US market in 2022 plus Canada expansion

Leading online sportsbook and casino operator BetMGM has today released a series of business updates for its current operations, along with plans and outlook for the year ahead.

BetMGM, a joint venture between MGM Resorts International and Entain, is one of the fastest growing betting and gaming sites in the United States and has stated that based on current performance it expects to reach around 40% of the adult market in the US, which is based on the entire adult population of the country.

Although the brand may be considered in its early stages compared with some sportsbook and casinos, it is without a doubt one of the strongest on the market and has experienced a good year in 2021, whereby it was the iGaming market leader to November 2021 with 30 percent share and the second largest across all active markets for betting and gaming to November 2021.

In addition, BetMGM is now live in 19 different jurisdictions, dominated by sports betting and is looking to add another 2 jurisdictions in the near future, along with launching the brand in Puerto Rico and Canada.

According to reports, the operator finished the year strong with net revenue expected to be around $850 million, an amount that is almost five times higher compared with the same period in the previous year.

Furthermore, BetMGM has stated that based on new figures and current operational growth, it is expecting net revenue for this year to hit the $1 billion mark at around $1.3 billion overall.

The current plans and projections are based on BetMGM deploying new products across existing active and new jurisdictions for its sportsbook and iGaming product verticals, including a retail sportsbook in Puerto Rico along with both sports betting and gaming services in Ontario towards the end of 2022.

BetMGM is a consistently growing operator that will continue to utilise the MGM Resorts loyalty program as part of its marketing strategy along with expanding in to the bingo market in addition to maintaining a top-level customer service in all aspects of its operations.

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