BetMGM has raised its 2022 revenue outlook with U.S. Sports betting taking off

BETMGM has raised their projection from $1 billion to $1.3 billion in what they expect in core profit in the sports betting & iGaming market. BetMGM said it was gaining market shares to hit the long term goal of 20%-25% of the sports betting and iGaming market.

BETMGM is the No. 2 operator for sports betting and iGaming in the US, and is challenging Flutter to be the top player in the American Market. Flutter is expected to invest another $450 million in 2022.

Bet MGM’s expected revenue is about $850 million for 2021 which is up nearly 5 times from 2020.