The casino operator BetMGM has just unveiled their outline for their 2022 performance as well as new plans for 2023. In the report BetMGM states, “BetMGM is well positioned to achieve net revenue from operations of between $1.8 billion and $2 billion in FY2023 and be EBITDA positive in the second half of 2023.” Operations in 2022 were able to produce $1.44 billion in net revenue, exceeding its expectation of $1.3 billion with BetMGM attributing the FY2022 success to, “improved customer experience and other product improvements.” BetMGM now has now expanded to include 25 jurisdictions, launching six in 2022: New York, Louisiana, Illinois, Ontario, Kansas, and Maryland.

A Pennsylvania lawmaker just recently proposed a new legislation that would legalize betting on esports, which are video games on a professional level. According to Rep. Neilson, Philadelphia is in the process of building multi-million dollar facility that will be dedicated esports events and tournaments. The esports industry is now worth nearly $1.2 billion and could be worth as much as $5.5 billion by 2029, according to a report by Fortune Business Insights. If the proposal goes through it could lead to a whole new audience of sports bettors as there’re hundreds of millions of people who play online video games.

MGM Resorts is starting off 2023 with a new initiative to make their casino rewards system more convenient and accessible to bettors. New MGM Rewards kiosks have began popping up throughout their resorts that allow new and existing bettors to create or retrieve a new players card that can be used in all of their casinos and many restaurants to acquire rewards points towards rooms, food, and free-play. The kiosks are built by Everi ($EVRI) who mass produces slot machines and financial equipment for casinos. The new initiative by MGM Rewards will help ensure that more players are receiving rewards for their play and creates efficiency for both the hotel and its players.