BetMGM enjoys strong iGaming market share in Entain Q3 report
A company record number of active customers was recorded this quarter, up 6% annually.
Operator Entain has reported its Q3 highlights, which have shown a steady performance, with group gaming revenue (NGR) up 2% year-on-year. Online NGR was up 1% annually, which was broadly in line with the company’s expectations.
Focusing more on its North American arm, however, BetMGM, a joint venture between Entain and MGM Resorts, continued to perform strongly, with a 25% market share in the markets it is active in (excluding New York). A successful start to the NFL year saw the sportsbook achieve a Q3 NGR of $400m, which was up 90% year-on-year.
In other good news for BetMGM, it continued to do well within the online casino industry where it achieved a 31% market share. This performance has helped set Entain on track for an overall 2022 financial year of $1.3bn NGR.
Also encouraging for Entain will be the record level of active customers in Q3 of 2022, which went up 6% from the same prior year period.
Entain CEO Jette Nygaard-Andersen commented: “Our business continues to perform well with good underlying momentum across the group, including in BetMGM. This illustrates the effectiveness of our growth strategy, the unique capabilities of the Entain platform, and the underlying strength of our diversified global business.
“I am delighted that we have welcomed even more customers to our brands across the world. This is a testament to our relentless focus on the customer, as well as the quality of our products, content and talented people.
Nygaard-Andersen is also enthused about what Q4 will hold for Entain, with the Qatar World Cup taking place from November-December.
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