Entain reveals new vision and direction with big focus on US expansion

Entain, the global sports betting and gaming group formerly known as GVC Holdings plc, marked its first day trading under its new name with a range of new measures to deliver on the vision and direction recently outlined by its CEO Shay Segev.

The new measures extend across all the countries in which it operates with brands including bwin, PartyPoker, Ladbrokes, Coral, FoxyBingo and BetMGM.

Last month Entain announced a new strategy to deliver significant growth, driven by expansion in the US, development across its core business, entry into new markets, and to new audiences. The firm also committed to lead responsible gaming with a new Sustainability Charter. Under this charter, the business pledged to focus only on regulated markets and use its proprietary technology to raise levels of player protection. 

As part of these plans to deliver growth and sustainability, Entain also confirmed strong momentum in the US with its best three months yet for BetMGM, its joint venture with MGM Resorts. 

Between October and January BetMGM is adding five new states to its operation, doubling its population reach to around 75 million across 12 states. Entain also disclosed that BetMGM’s most recent state launch in Tennessee has been its most successful go-live yet, with revenues already ahead of that in more established states. Powered by Entain technology, BetMGM expects to be in 20 states by the end of 2021.

Segev commented: “We are firmly on track to be the leading operator in the US as well as in many other newly regulated markets that are now opening around the world. At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era. 

“In the US, we invested in building the right building blocks for the BetMGM platform to grow and become a long-term leader in the US, with superior technology and capabilities, and this is now paying off.”

The firm went on to flesh out details of its new Sustainability Charter, allocating money to new projects which will be delivered through its international Foundation around the world. It also gave further detail on its new Advanced Responsibility and Care (ARC) initiative, seeking to revolutionize player experiences and protection through world-leading research, data science and technology. Other new measures include:

Focusing on new regulated markets, Entertain added that it has become the first global sports betting and gaming operator to gain a license in Latin America and expects to go live in Colombia over the next month. Colombia is one of the first countries to issue licenses in Latin America with others, such as Brazil preparing to follow. 

Elsewhere in the Americas, Canada is also moving ahead with regulation and Entain confirmed it will be applying for licensing in Canada.

Turning to responsible gambling, the company confirmed that its Entain Foundation is rolling out an extensive state-by-state program with EPIC, a charitable organization which works with former athletes and people who have overcome gambling addiction to help educate people on how to play safely.

The US project with EPIC extends the scheme to a total of 15 Pro Sports teams and over 20 colleges across the country, including Harvard University, University of Oregon, and the Mid-American Conference. Entain and EPIC plan to work together to add additional professional sports leagues and colleges across the US during 2021.