Entain to spend big on BetMGM despite 2020 losses in excess of £60m

CFO Rob Wood admits losses will “absolutely be greater” in 2021 as chairman Barry Gibson distances Entain from MGM with declaration of independence

You have to spend money to make money. That is clearly the strategy being adopted by Entain as it seeks to drive revenue and bolster market share in the US market via its BetMGM joint venture. BetMGM – the betting brand formed in partnership with MGM Resorts – now expects to record full-year net gaming…

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