BetMGM sees U.S/Canada sports betting market at $32b

BetMGM, the online joint venture between MGM Resorts and the U.K.’s Entain, said it sees the long-term sports betting market in the U.S. and Canada as being worth $32 billion and expects its share in the U.S. to be between 20 and 25 percent.

In a business update, BetMGM said it expects operational revenues of $1 billion next year.

“The U.S. market is shaping up to be even larger and more exciting than we originally envisaged, and we now believe it will be worth $32 billion, including Canada,” BetMGM CEO Adam Greenblatt said. “The unique partnership of MGM Resorts’ leading brand and loyal customer base and Entain’s proprietary technology platform gives us the best resources to win in this market.”

Company filing