Salem Radio Network News Tuesday, July 5, 2022

Business

BetMGM to turn a profit next year

(Reuters) – BetMGM is expected to turn a profit next year, while revenue in 2022 is likely to exceed a previous forecast as the U.S. sports-betting joint venture between MGM Resorts and Entain expands into more markets and launches new products.

Britain’s Entain said on Wednesday the joint venture, which operates online and in MGM casinos in the United States, is estimated to deliver over $1.3 billion in net revenue from operations in 2022 and would reach positive core profit in 2023.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Krishna Chandra Eluri)

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