(Alliance News) - Entain PLC on Monday gave an outlook for BetMGM, its joint-venture in the US, owned jointly with MGM Resorts International, ahead of its business update for analysts and investors at 16:00 GMT.

The London-based sports betting and gambling operator - via Coral, Ladbrokes, PartyPoker and various other brands - said it expected a BetMGM revenue in the upper range of USD1.8 billion to USD2.0 billion for 2023. For 2022, Entain had reported BetMGM net gaming revenue of USD1.44 billion.

Further, Entain expects BetMGM to achieve earnings before interest, tax, depreciation and amortisation profitability in the second half of 2023. For 2026, it targets about USD500 million in Ebitda for BetMGM.

Entain noted "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."

Entain shares fell 1.3% to 797.60 pence each on Monday afternoon in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.