{"id":182630,"date":"2021-08-12T12:28:11","date_gmt":"2021-08-12T19:28:11","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=182630"},"modified":"2021-08-12T14:26:55","modified_gmt":"2021-08-12T21:26:55","slug":"entain-sees-big-sports-betting-growth-in-us-with-betmgm","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/","title":{"rendered":"Entain Forecasts Up To 25% Share of $32B North American iGaming, Sports Betting"},"content":{"rendered":"

Entain Plc (OTC:GMVHY), half owner of the BetMGM business, said at its Investor Day today it’s aiming for 20 percent to 25 percent of the North American internet casinos and online sports wagering markets. The operator believes the market will eventually be worth $32 billion, up from $6 billion today.<\/p>\n

\"Entain\"
The BetMGM sign at Park MGM Las Vegas illuminates the sportsbook below. Entain, part owner of BetMGM, is forecasting big US growth. (Image: VegasChanges<\/em>)<\/figcaption><\/figure>\n

While Entain’s London-listed and over-the-counter US shares are trading lower today, the stock is higher by almost 80 percent year-to-date. That’s due in large part to BetMGM amassing impressive market share in the US.<\/p>\n

BetMGM is firmly established as the number two operator in the market, and is targeting a long-term market share of 20 percent to 25 percent of the North American online market that we expect will grow from around $6 billion today to around $32 billion over the long term,\u201d said Entain in an investor presentation.<\/p><\/blockquote>\n

That echoes previous commentary issued<\/a> by MGM Resorts International (NYSE:MGM), Entain’s partner on the BetMGM venture. When the casino giant reported second-quarter results last week, it also said BetMGM is the second-largest online sportsbook and iGaming platform in the US.<\/p>\n

Entain Talks Acquisitions From Buyer’s Perspective<\/h2>\n

The UK-based company has been at the center of multiple takeover rumors this year, some which position the operator as buyer<\/a>. It didn’t run away from that status at the investor event.<\/p>\n

\n

Entain previously attempted to acquire Tabcorp’s media and sports betting units in Australia, though that company opted for another transaction. The Coral owner was also rumored to be a potential bidder for William Hill’s international assets. But that appears unlikely at this juncture. However, the operator is still planning to be a player in industry consolidation.<\/p>\n<\/div>\n

\u201cWe have a strong track record of M&A, and our global brands, regulatory expertise, and scale also enable us to enter markets organically,\u201d said the company. \u201cIncreasing numbers of markets are regulating for betting and gaming; there are over 50 such markets around the world that we do not operate in today that we believe will be worth around $40 billion over the long term.\u201d<\/p>\n

Entain, which is currently licensed in 27 countries, said it plans to only operate in regulated nations by the end of 2023.\u00a0 But it didn’t highlight specific countries in which it could go shopping.<\/p>\n

No MGM Takeover Talk<\/h2>\n

While Entain wasn’t shy about discussing mergers and acquisitions activity in broad terms, the investor presentation doesn’t address the elephant in the room: The possibility of MGM making another offer for the company.<\/p>\n

In January, the Bellagio operator offered $11.06 billion for the British operator. But that bid was ultimately rejected as inadequate. With BetMGM taking off, analysts widely believe MGM<\/a> will return to the bargaining table, perhaps before the end of this year.<\/p>\n

Due to improving earnings and a variety of recent asset sales, MGM is armed with more cash with which to make an offer for Entain. It will need that ammunition because of the aforementioned rally in the target’s share price.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Entain Plc (OTC:GMVHY), half owner of the BetMGM business, said at its Investor Day today it’s aiming for 20 percent to 25 percent of the North American internet casinos and online sports wagering markets. The operator believes the market will eventually be worth $32 billion, up from $6 billion today. While Entain’s London-listed and over-the-counter […]<\/p>\n","protected":false},"author":46,"featured_media":182631,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32093,1074],"tags":[],"acf":[],"yoast_head":"\nEntain Sees Big Sports Betting Growth in US with BetMGM<\/title>\n<meta name=\"description\" content=\"BetMGM part owner Entain is forecasting big growth and is ready for acquisitions, but didn't mention MGM takeover.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entain Sees Big Sports Betting Growth in US with BetMGM\" \/>\n<meta property=\"og:description\" content=\"BetMGM part owner Entain is forecasting big growth and is ready for acquisitions, but didn't mention MGM takeover.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-12T19:28:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-12T21:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/MGM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/\",\"url\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/\",\"name\":\"Entain Sees Big Sports Betting Growth in US with BetMGM\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/MGM.jpg\",\"datePublished\":\"2021-08-12T19:28:11+00:00\",\"dateModified\":\"2021-08-12T21:26:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"BetMGM part owner Entain is forecasting big growth and is ready for acquisitions, but didn't mention MGM takeover.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-sees-big-sports-betting-growth-in-us-with-betmgm\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/MGM.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/MGM.jpg\",\"width\":1024,\"height\":768,\"caption\":\"The BetMGM sportsbook at Park MGM Las Vegas. 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