By The Weekly Edge desk ·
SBC Americas reports that BetMGM is retreating from states without iGaming as prediction markets affect its business. CEO Adam Greenblatt said the company continues to focus on higher-value, higher-staking players.
BetMGM’s retreat signals reduced focus on states without iGaming as prediction markets affect its business.
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BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
Greenblatt expects prediction markets’ addressable market to contract before the Supreme Court hearing, while reporting BetMGM handle growth.
A potential sale could affect operators considering commercial relationships with sports wagering media companies.
Ontario’s CAD200,000 penalty connects an unhonoured cash-out offer with alleged player protection failures at theScore Bet.
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
BetMGM and MGM Resorts’ funding supports gambling research, state councils, the 1-800-GAMBLER helpline and the Evive Foundation.