MGM - Don't forget about BetMGM as a sports betting player - UBS

Amid heightened focus on the online sports betting industry, UBS analyst Robyn Farley updates on her talks with GVC Holdings (GMVHF) and MGM Resorts (MGM) about the BetMGM joint venture. A few of the key points are highlighted below. "BetMGM is in 8 markets today but by 2025, they believe the market could include 38 states for sports betting and 13 states for online gaming. They see potential market value north of $20B. Those revenue projections are based on 225M adults in 38 states spending annually $60 per adult on sports betting, and average annual spend of $110 per adult on online gaming from the 62M adults in 13 states– based on actual spend levels in the UK." "BetMGM's target market share is 15-20%, and they have so far achieved ~16-17% in NJ YTD. BetMGM sees profitability by year 3 within a given state, depending on tax levels and regulations.They

For further details see:

Don't forget about BetMGM as a sports betting player - UBS