Entain’s US three way partnership slumps to a loss because it ramps up funding
Marketing spend: Ladbrokes owner Entain has seen its joint venture with MGM Resorts fall to a loss of £96m for the first half of 2024
Ladbrokes owner Entain’s US joint venture BetMGM has said it expects to post a loss for the full year as it ramps up marketing spend.
The American sports betting and gaming group reported an loss of £96million for the first half of 2024.
Entain is expecting a similar result for the remaining six months, adding that investment in its iGaming business over the second half will be more than first thought.
Entain said the ‘greater than planned marketing investment’ will be funded by bank debt.
Entain said the ‘greater than planned marketing investment’ will be funded by bank debt.
The investment spree follows attempts to strengthen its foothold in the rapidly expanding US market after restrictions were eased in a number of states.
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
