The global sports betting and gaming group previously known as GVC Holdings PLC marked the first day of trading under its new name Entain PLC with a range of measures to deliver on the vision and direction recently outlined by its CEO Shay Segev.
Among those measures, Entain announced it has become the first sports betting operator to gain a license in Latin America, and expects to go live in Colombia within the next month. The country is one of the first in Latin America to issue licenses, with Brazil preparing to follow suit. Entain also confirmed it will be applying for a license in Canada as the country moves ahead with regulation there.
The new measures extend across all the countries in which Entain operates with brands including bwin, PartyPoker, Ladbrokes, Coral, FoxyBingo and BetMGM. Last month, Entain announced a new strategy to deliver significant growth, driven by expansion in the U.S., growth across its core business, entry into new markets, and to new audiences.
Entain, which has a strong track record of 19 consecutive quarters of double-digit growth in its online business, also committed to lead responsible gaming with a new Sustainability Charter. Under this charter, the business pledged to focus only on regulated markets and use its proprietary technology to raise levels of player protection.
As part of these plans to deliver growth and sustainability, Entain confirmed strong momentum and market share gains in the U.S. for BetMGM, its joint venture with MGM Resorts International. Between October and January, BetMGM is adding five new states, doubling its population reach in three months to around 75 million across 12 states.
Entain also disclosed that BetMGM’s most recent state launch in Tennessee has been its most successful go-live yet, with revenues already ahead of those in more established states. Powered by Entain technology, BetMGM expects to be in over 20 states by the end of 2021.
“We are firmly on track to take further leadership in the U.S. as well as in many other newly regulated markets that are now opening around the world,” said Segev. “At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era.
“In the U.S., we invested in building the right building blocks for the BetMGM platform to grow and become a long-term leader in the U.S., with superior technology and capabilities, and this is now paying off.”
Entain also fleshed out its new Sustainability Charter, allocating money to new projects which will be delivered through its international foundation around the world. It also gave further detail on its new Advanced Responsibility and Care (ARC) initiative, seeking to revolutionize player experiences and protection through world-leading research, data science and technology.
