An initial public offering to take BetMGM public is one of the options on the table if its sports betting joint venture breaks even next year.
That is according to Entain CEO Jette Nygaard-Andersen, who tackled the question on the company’s third-quarter trading update call Thursday.
Companies listed in London are not required to give detailed reports in the first and third quarters so the four-page update was short on specifics. Entain called out BetMGM‘s successful start to NFL betting and $400 million in US quarterly net gaming revenue, though.
BetMGM IPO comment
Entain should reach sustainable positive EBITDA next year based on current expectations of state launches, the company said. That led one analyst to reference back to the second-quarter call when Nygaard-Andersen said it would be time to look at how to get value out of BetMGM once it was profitable.