BetMGM reports a US market share of 23% and is in second place

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The company targets net sales of $ 1 billion in 2022 and expects long-term US market share of 20-25%.

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etMGM, a US joint venture between MGM resorts and Receivesaid it was Wednesday It aims to generate net sales of $ 1 billion in 2022and that both were partners expected to invest $ 450 million in the sports betting company this year, which is on top of the $ 210 million invested by the end of 2020.

The company made a business update available as part of Investors Day when it announced it did Leader in the US iGaming market for the three months ended February. With a 23% market share During this period, the company said it did on track to take second place in US sports betting and iGaming overall. BetMGM now expects it to run long-term market share of approx. 20% – 25% in the USA

Entain said BetMGM is now expecting that The total addressable market in the US and Canada will be around $ 32 billion in the long term.

“BetMGM has shown strong momentum and built a leadership position in iGaming. It is well on its way to be number two in sports betting and iGaming in the US.” BetMGM managing director Adam Greenblatt specified.

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