“We’re number 2!”
Sounds like a joke but in the ever-growing population of sportsbooks and states with sports betting, rising to second in the U.S. is an achievement to be celebrated. And BetMGM, the joint venture between Entain and MGM Resorts International finished second in sports wagering and online gaming during the second quarter.
According to a Q2 2021 results, BetMGM’s share of the online market rose from 23 to 29 percent between April 1 and June 30, according to Pokerfuse.
“Our market share has benefited slightly in the last couple of months from seasonality in the sports calendar,” CFO Rob Wood said during a trading update on July 8. “iGaming was a greater piece of the mix, but nonetheless we’re pleased to see that our continued operational progress is being rewarded with market share gains.
The company also benefitted from new customer acquisitions during March Madness and activations of the M-life Reward program.
CEO Jette Nygaard-Andersen said 97 percent of net gaming revenue grew 10 percent or more with internet availability still low.
BetMGM’s sportsbook has a presence in 10 states: Colorado, Indiana, Iowa, Michigan, Nevada, New Jersey, Pennsylvania, Tennessee, Virginia and West Virginia. The company also runs online poker rooms in Michigan, and New Jersey.
