Entain's BetMGM Faces £96 Million Loss Due to Elevated Marketing Expenses

Monday, 29 July 2024, 21:02

Ladbrokes owner Entain has reported a significant loss of £96 million for its joint venture, BetMGM, with MGM Resorts International in the first half of 2024. The losses are attributed to ramped-up spending on marketing efforts aimed at gaining market share in the competitive U.S. sports betting industry. Despite these financial setbacks, the company remains focused on long-term growth strategies in the U.S. market, indicating potential recovery in the future.
Daily Mail
Entain's BetMGM Faces £96 Million Loss Due to Elevated Marketing Expenses

Entain's Financial Challenges

Entain, the owner of Ladbrokes, has experienced a substantial loss in its U.S. joint venture, BetMGM. This joint venture recorded a staggering £96 million loss in the first half of 2024.

Factors Contributing to the Loss

  • The primary factor behind the loss is increased spending on marketing efforts.
  • Entain aims to strengthen its position in the competitive U.S. sports betting industry.

Future Outlook

Despite these financial challenges, Entain's leadership remains optimistic about long-term growth strategies in the U.S. market.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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