By The Weekly Edge desk ·
Gambling Insider reported that BetMGM’s second-quarter revenue increased 3%. Revenue and earnings nevertheless came in below consensus forecasts in its business update.
The update shows modest revenue growth falling short of market expectations.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
The update gives investors a second-quarter revenue figure for BetMGM.
The revised expectation delays BetMGM’s targeted earnings milestone.
BetMGM and MGM Resorts’ funding supports gambling research, state councils, the 1-800-GAMBLER helpline and the Evive Foundation.
The agreements impose payments on MGM Resorts International and CountR for licensing breaches in Pennsylvania.