ntain Plc, whose shareholders on Wednesday approved the firm’s corporate rebrand to that new identity from GVC Holdings, marked its first day trading under its new name with a range of new measures that 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, growth across its core business, entry into new markets, and to new audiences. The firm, which has a track record of 19 consecutive quarters of double-digit growth in its online business, 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, Entain on Thursday 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, 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.
“We are firmly on track to be the leading operator in the U.S. as well as in many other newly regulated markets that are now opening around the world,” said CEO Shay Segev. “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.”
In line with its stated intention to focus on fully regulated markets, Entain announced Thursday it has become the first global sports betting and gaming operator to gain a licence in Latin America and expects to go live in Colombia over the next month. Colombia is one of the first countries to issue licences 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 licencing in Canada.
Entain also fleshed out 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 revolutionise player experiences and protection through world-leading research, data science and technology.
Furthermore, Entain has pledged to invest £100 million over five years in the Entain Foundation to fund responsible gaming initiatives and to support people and communities around the world where it operates. On Thursday, it announced a series of international commitments:
Moreover, under the recently announced Advanced Responsibility and Care (ARC) program, Entain will combine its technology with research and insight from leading psychologists and Harvard to develop innovative experiences and safeguards for a new era in interactive sport and entertainment. To this end, Entain today announced that Dr. Michael Auer, a leading academic and member of the scientific community at the University of Hohenheim in Germany, specialising in behavioural psychology and addiction, will join Entain alongside Professor Mark Griffiths, Distinguished Professor of Behavioral Addiction and Psychology at Nottingham Trent University. They will evaluate and advise on improvements to Entain's guidelines and processes in relation to responsible gaming.