Entain and BetMGM are in alignment that the global betting operator needs further support and investment during 2024.

Entain Plan Further Investment Into BetMGM During 2024

BetMGM is one of the leading sports betting and iGaming sites in the world, however, according to its partner Entain – the sportsbook has still not reached the expected heights.

The two global organizations believe that there needs to be another year of investment in 2024, after a few mishaps during the early stages of the year.

Stella David, Interim CEO at Entain, has revealed that the financial backing and general support will be directed towards building momentum within the company.

She said (via Entain’s first-quarter trading update): “We are aligned with MGM that 2024 is a year of investment for BetMGM, investing in marketing and building momentum behind our improved player experience with more US tailored products and new game launches.

“For example, the tangible capabilities of Angstrom are just starting to reach players now and our differentiated Parlay and Parlay+ offerings are live for MLB and will follow shortly for NBA and later this year for NFL.”

In 2023, both companies invested $150 million into pushing BetMGM to the next level and an exact amount for this next investment is yet to be revealed.

First-quarter reports from MGM are expected to be revealed on May 1st, which could dictate whether the amount is increased or decreased.

Bill Hornbuckle, MGM CEO, spoke about the possibility of further investment in February this year and his approach did not seem to support the idea of putting more money into the company.

He said: “We all have to be rational players. There is growth left, but no, there’s no large-scale capital. That business should begin to mend and take care of itself.”

The CEO at MGM also revealed in August last year that the betting site was not at the level he expected and directed the blame towards Entain for not delivering enough US products to BetMGM.