TIDMENT
RNS Number : 0176N
Entain PLC
17 January 2023
2.00pm 17 January 2023
ENTAIN AND MGM RESORTS INTERNATIONAL
Notice of BetMGM Update
BetMGM LLC ("BetMGM"), one of the leading sports betting and
iGaming operators across the U.S., jointly owned by Entain plc
(LSE: ENT) ("Entain") and MGM Resorts International (NYSE: MGM)
("MGM Resorts") will release an update on BetMGM's 2022 performance
and outlook for 2023 at approximately 1.30 pm UK (8.30 am EST) on
Thursday 26(th) January 2023 .
BetMGM will also host a conference call at 3.00pm UK (10.00am
EST) that day, which will include an overview of its results,
followed by a brief Q&A session.
The live webcast will be accessible at
https://edge.media-server.com/mmc/p/e6xy3tdg .
For those wishing to ask a question, please register at
https://register.vevent.com/register/BI036a28fe1b0f49929c731f43afb942c6
.
Upon registration, dial-in details and a personalised PIN will
be provided.
A replay of the call will be available at
https://entaingroup.com/investor-relations/results-centre/
Contacts:
BetMGM
--------------------------------------------------
Elisa Richardson press@betmgm.com
Head of Public Relations & Communications
Entain plc
--------------------------------------------------
Investor Relations
David Lloyd-Seed investors@entaingroup.com
Chief Investor Relations & Communications Officer
Davina Hobb s
Head of Investor Relations
Callum Sims
IR Manager
News Media
Lisa Attenborough media@entaingroup.com
Head of Media Relations
Jodie Hitch
PR Manager
MGM Resorts International
--------------------------------------------------
Investment Community
Andrew Chapman achapman@mgmresorts.com
Director, Investor Relations
News Media
Brian Ahern media@mgmresorts.com
Executive Director, Media Relations
LEI: 213800GNI3K45LQR8L28
Forward-looking statements
This document contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this document and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. These
forward-looking statements include all matters that are not
historical facts. By their nature, these statements involve risks
and uncertainties since future events and circumstances can cause
results and developments to differ materially from those
anticipated. Any such forward-looking statements reflect knowledge
and information available at the date of preparation of this
document. Among the important factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include the significant competition
within the gaming and entertainment industry; BetMGM's ability to
execute on its business plan; changes in applicable laws or
regulations, particularly with respect to iGaming and online sports
betting; BetMGM's ability to manage growth and access the capital
needed to support its growth plans; and BetMGM's ability to obtain
the required licenses, permits and other approvals necessary to
grow in existing and new jurisdictions. In providing
forward-looking statements, Entain is not undertaking any duty or
obligation to update these statements publicly as a result of new
information, future events or otherwise, except as required by law.
Other than in accordance with its legal or regulatory obligations
(including under the Market Abuse Regulation (596/2014), the
Listing Rules, the Disclosure Guidance and Transparency Rules and
the Prospectus Rules), Entain undertakes no obligation to update or
revise any such forward-looking statements. Nothing in this
document should be construed as a profit forecast. Entain and its
directors accept no liability to third parties in respect of this
document save as would arise under English law.
Non-GAAP Financial Information
This press release includes projected net revenue from
operations, which has not been prepared in accordance with GAAP.
BetMGM believes this presentation, which it uses for its own
analysis of operations, is useful in that it reflects the true
economic performance of the business. If BetMGM presented net
revenue from operations in accordance with GAAP, then BetMGM would
present the revenues associated with its Nevada digital and retail
sports betting operations different, until such time as BetMGM is
licensed as a Nevada gaming operator. Currently under GAAP, its
calculation of Net Revenue would be on a basis net of operating
costs, such that the GAAP reported Net Revenue would be lower than
the Net Revenue reported herein, with Net Income remaining the
same.
About BetMGM
BetMGM is a market leading sports betting and gaming
entertainment company, pioneering the online gaming industry. Born
out of a partnership between MGM Resorts International (NYSE: MGM)
and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of
MGM Resorts' U.S. land-based and online sports betting, major
tournament poker, and online gaming businesses. Utilizing Entain's
U.S.-licensed, state of the art technology, BetMGM offers sports
betting and online gaming via market leading brands including
BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in
2018, BetMGM is headquartered in New Jersey. For more information,
visit http://www.betmgminc.com/
About Entain plc
Entain (LSE: ENT) is a FTSE100 company and is one of the world's
largest sports-betting and gaming groups, operating both online and
in the retail sector. The Group owns a comprehensive portfolio of
established brands; Sports brands include BetCity, bwin, Coral,
Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports
Interaction and SuperSport; Gaming brands include Foxy Bingo, Gala,
GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino.
The Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services
to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK with operations in over 40
regulated or regulating territories. Entain is a leader in ESG, a
member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group
has set a science-based target, committing to be carbon net zero by
2035 and through the Entain Foundation supports a variety of
initiatives, focusing on safer gambling, grassroots sport,
diversity in technology and community projects. For more
information see the Group's website: www.entaingroup.com
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500(R)
global entertainment company with national and international
locations featuring best-in-class hotels and casinos,
state-of-the-art meetings and conference spaces, incredible live
and theatrical entertainment experiences, and an extensive array of
restaurant, nightlife and retail offerings. MGM Resorts creates
immersive, iconic experiences through its suite of Las
Vegas-inspired brands. The MGM Resorts portfolio encompasses 32
unique hotel and gaming destinations globally, including some of
the most recognizable resort brands in the industry. The Company's
50/50 venture, BetMGM, LLC, offers U.S. sports betting and online
gaming through market-leading brands, including BetMGM and
partypoker. The Company is currently pursuing targeted expansion in
Asia through the integrated resort opportunity in Japan. Through
its "Focused on What Matters: Embracing Humanity and Protecting the
Planet" philosophy , MGM Resorts commits to creating a more
sustainable future, while striving to make a bigger difference in
the lives of its employees, guests, and in the communities where it
operates. The global employees of MGM Resorts are proud of their
company for being recognized as one of FORTUNE(R) Magazine's
World's Most Admired Companies(R). For more information, please
visit us at www.mgmresorts.com . Please also connect with us
@MGMResortsIntl on Twitter as well as Facebook and Instagram
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END
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