Last year, BetMGM began by operating in just three states. And despite the challenges of a pandemic (or perhaps helped by the pandemic keeping people home) they had grown to operating in ten states.
The money was better than expected, too. Bringing in over $178 million in net revenue, significantly beating their target of $150 million. The real profits still lie ahead, however, as the company fully expects to make over $350 million this year… and they are off to a nice start.
January numbers are in, and the company has already seen well over $40 million in net revenue. They now say their BetMGM makes them the top sports book by market share in Tennessee, and second in Colorado. It takes the third spot in Indiana, New Jersey and West Virginia.
MGM specifically broke out details on sports betting in New Jersey to show its growth in its most mature market. You can read that and more about the BetMGM app at Legal Sports Report.