Entain PLC, formerly known as GVC Holdings Plc, is a leading global sports betting and gaming company. It operates various online and retail brands, including BetMGM, Ladbrokes, Coral, bwin, and PartyPoker, catering to customers across multiple jurisdictions. In August 2023, Entain launched its BetMGM iGaming and online sports betting brand in the UK, leveraging its successful brand and MGM Resorts' entertainment heritage to deliver an immersive online experience.
The BetMGM UK offering features exciting product features like large jackpots, loyalty rewards, sports promotions, and exclusive slots. Entain's diversified portfolio and international presence position it as a prominent player in the online gambling industry. In January 2022, the company announced a USD 133 million investment to establish Ennovate, a global innovation lab focused on developing entertainment experiences in the metaverse, including applications for non-fungible tokens (NFTs).
Entain's joint venture with MGM Resorts, BetMGM, LLC, continues to operate the BetMGM brand in the US and Canada, utilizing technology provided by Entain. As of April 2024, BetMGM's revenue was on track to meet or exceed forecasts, ranging from GBP 1.41 billion to GBP 1.57 billion, indicating growth potential in the rapidly expanding US sports betting market. In June 2023, Entain raised approximately GBP 600 million through a new stock issue to acquire the Polish sports betting operator STS, aligning with its strategic expansion goals.
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