Entain PLC BetMGM Business Update (5726V)

TIDMENT

RNS Number : 5726V

Entain PLC

04 December 2023

For release 14:00 (GMT) 4 December 2023

BETMGM BUSINESS UPDATE

Business on Track with Key Enhancements to Drive Sustainable Growth

BetMGM LLC ("BetMGM"), one of the leading sports betting and iGaming operators across the U.S., jointly owned by Entain plc (LSE: ENT) ("Entain") and MGM Resorts International (NYSE: MGM) ("MGM Resorts") will host a business update for analysts and investors at 4.00pm GMT (11.00am EST, 8.00am PST) today.

The virtual presentation will provide the latest views on BetMGM's performance to date, product enhancements and technology updates, sources of competitive differentiation and financial outlook. Following the presentations, there will be a live Q&A session.

During the presentation, BetMGM's Chief Executive Officer Adam Greenblatt and Chief Financial Officer Gary Deutsch will focus on the overall strategy and outlook, including:

-- Delivery of 2023 guidance, reaching the upper end of $1.8-$2.0 billion revenue and achieving EBITDA profitability in the second half

-- Key enhancements in both digital sports and market-leading iGaming product presenting the opportunity to invest competitively behind the brand, driving accelerated player acquisition and aiding player retention

-- Clarity on why 2024 is an investment year to drive enterprise value for shareholders; setting a target of approximately $500m EBITDA in 2026

The event, including registration, can be accessed through the following link:

https://app.webinar.net/JPrvyDGj8ge

Q&A participants may access the live audio dial-in, details below:

UK: [phone]

US: [phone]

Conference ID: 7129324

Presentation slides will be posted prior to the event on websites:

https://www.entaingroup.com/investor-relations/results-centre/

http://investors.mgmresorts.com/investors/events-and-presentations/

Contacts:

 
 BetMGM 
 Witek Wacinski - VP Strategy & Development             [e-mail] 
 
 Entain plc 
 Investors                                              [e-mail] 
 David Lloyd-Seed - Chief IR & Communications Officer 
 Davina Hobbs - Head of Investor Relations 
 Aimee Remey - VP US Investor Relations 
 Callum Sims - IR Manager 
 
 Media                                                      [e-mail] 
 Lisa Attenborough - Head of Corporate Communications 
 Jodie Hitch - PR Manager 
 
 MGM Resorts International 
 Investment Community 
 Andrew Chapman - Director of Investor Relations          [e-mail] 
 
 Media 
 Brian Ahern - Executive Director of Communications          [e-mail] 
 

About BetMGM

BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit www.betmgminc.com .

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, SuperSport and STS; Gaming Brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 40 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group's website : www.entaingroup.com

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500(R) global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. . The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE(R) Magazine's World's Most Admired Companies(R). For more information, please visit us at www.mgmresorts.com . Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram .

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December 04, 2023 09:00 ET (14:00 GMT)