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MGM Sees Online Bets Surging as Casino Market Remains Sluggish

  • BetMGM internet venture had $178 million in sales last year
  • Company made failed attempt to merge with partner last month
Bellagio Resort In Las Vegas Demonstrates Coronavirus Safety Protocols Ahead Of Reopening

Photographer: Ethan Miller/Getty Images

MGM Resorts International’s attempt to merge with its online betting partner sputtered last month, but their joint venture continues to thrive.

BetMGM, which it co-owns with Entain Plc, generated revenue of $178 million last year and the amount should more than double in 2021, MGM said in a presentation released Wednesday. The company said it had 17% the U.S. market, which it expects to climb to $25 billion by 2025.