DKNG - BetMGM aims to take a quarter of all sports betting and iGaming action in U.S.

BetMGM releases an update ahead of a presentation later this morning laying out its future expectations for the sports betting and iGaming businesses. BetMGM says it is the number one market leader across the U.S. in iGaming with a market share of 23% over the three months that ended in February. BetMGM say it is on course to take the number two spot in U.S. sports betting and iGaming overall.BetMGM now expects the total long-term addressable market in the U.S. and Canada to be approximately $32B. That figure is of high interest to DraftKings (DKNG) and Flutter Entertainment's Fanduel (PDYPY)"With continued strong momentum in its business, BetMGM now expects that, as a leading operator, it will drive long-term market share of approximately 20% - 25% in the U.S.""BetMGM expects to achieve $1 billion of net revenue from operations in 2022."MGM Resorts International ([[MGM]] +0.6%) and Entain Holdings (GMVHF) partner to run

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BetMGM aims to take a quarter of all sports betting and iGaming action in U.S.