London-listed Entain, formerly GVC Holdings, celebrated its first day of trading under its new moniker by going live in Colombia. Entain also plans to double its market share in the US via its joint venture with MGM Resorts International, the BetMGM casino, and sports betting apps.
Quickly Expanding Around the World
Along with the recent shareholder approval of its new name, Entain has launched its gaming and sports betting operations in Colombia; the move is aligned with the company strategy of making sure that 99% of its net gaming revenue comes from regulated markets by the end of 2020, then going to 100% by the end of 2023.
Entain also announced that the recent Tennessee launch of BetMGM has been its most successful to date in the US, with revenue already exceeding that of more established BetMGM states.
By the end of January, Entain expects BetMGM to be live in 12 states, reaching approximately 75 million people. Moreover, BetMGM is expected to be live in more than 20 states by the end of 2021.
“We’re firmly on track to gain leadership in the U.S. market, as well as in many other newly regulated markets around the world,” said Entain chief executive Shay Segev. “At the center of our growth strategy is our determination to bring the best player protections and experiences in our industry as technology moves interactive gaming entertainment and sports betting into a new era. In the U.S., Entain invested in creating the building blocks to grow the BetMGM platform and become a long-term leader in the US. Our topnotch technology and capabilities, are now paying off.”
Enhanced Responsible Gaming Technology
Entain has also enhanced its Advanced Responsibility and Care initiative; the gambling company has appointed Dr. Michael Auer, a leading academic and scientist at the University of Hohenheim in Germany. Dr. Auer specializes in behavioral psychology and addiction.
Working alongside Dr. Auer will be Professor Mark Griffiths, Distinguished Professor of Behavioral Addiction and Psychology at Nottingham Trent University in the UK. The pair will work to evaluate and advise Entain on improvements to its processes and guidelines in relation to responsible gaming.
The Entain Foundation
The UK-based gaming company recently announced several new commitments by the Entain Foundation, in partnership with the Trident Community Foundation, to support community-based football projects. Those projects are being launched by the Northern Premier, The Isthmian, and Southern Leagues in the UK.
The global foundation was launched in September 2019, to coordinate and support Entain’s charitable donations, initiatives, and objectives. Through the Foundation, Entain is committed to donating £100 million over the next five years.
Initially, the Entain Foundation is focused on four key areas:
- Sports integrity, responsible gambling education and treatment, and gambling regulation research
- Grassroots, disabled, and women’s sports
- Men’s health, with a special focus on mental health
- Projects within the local communities in Entain’s office locations
In the US, the foundation also plans to support the charitable organization EPIC, launching an extensive state-by-state program to educate the public on safer gambling.
In Australia, the foundation will work with Relationships Australia, a non-profit providing a range of support services and counseling to problem gamblers as well as their families.
The Entain Foundation is already supporting several charitable organizations, including the
- Division on Addiction, Cambridge Health Alliance, at Harvard Medical School
- Pitching In, a grassroots sports investment fund
- Inter Milan Football Club in Italy, to promote participation in women’s soccer
- US Fund to Support Research on Sports Wagering
- German Sports Integrity Forum
- Professional Players Federation
This is just the beginning; more projects and initiatives will be announced in the months and years to come.
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