Entain PLC, alongside its joint venture partner MGM Resorts (NYSE:MGM) International, announced a forthcoming virtual Business Update Event for their shared venture, BetMGM. The event is scheduled for Monday, December 4 at 4:00 pm GMT (11:00 am Eastern Time) and will feature presentations by BetMGM's CEO Adam Greenblatt and CFO Gary Deutsch. Stakeholders and interested parties are invited to register for the event through a provided webinar link.
BetMGM, a leader in the U.S. sports betting market, is powered by Entain's technology and encompasses a portfolio of brands including Borgata Casino, Party Casino, and Party Poker. This event is expected to offer valuable insights into the company's strategic direction and operational updates.
Entain, recognized for its online sports betting brands such as Bwin and Coral, is committed to environmental, social, and governance (ESG) initiatives, including a goal to achieve carbon neutrality by 2035. This dedication to sustainability is shared by its partner MGM Resorts, which has a significant international presence in the hospitality and entertainment industries and is also pursuing growth opportunities in Asia.
The December 4 Business Update Event presents an opportunity for analysts and investors to engage directly with BetMGM's leadership and to ask live questions following the presentation. The collaboration between Entain and MGM Resorts International continues to emphasize innovation in sports betting and gaming, leveraging advanced North America-licensed technology, and upholding sustainable business practices in line with their philosophy of embracing humanity and protecting the planet.
InvestingPro Insights
As Entain PLC and MGM Resorts International gear up for their virtual Business Update Event, investors and stakeholders may find InvestingPro's real-time data and insights particularly valuable in assessing the companies' current financial health and future prospects.
For Entain PLC, the expectations of net income growth this year and impressive gross profit margins, as highlighted by InvestingPro Tips, underscore the company's potential for increased profitability. Additionally, the company's focus on ESG initiatives aligns with its robust gross profit margin of 80.23% over the last twelve months as of Q2 2023, which reflects efficient operations and a strong market position.
MGM Resorts International, on the other hand, is trading at a high P/E ratio relative to near-term earnings growth, suggesting that investors are expecting higher earnings in the future. This is supported by the InvestingPro Tip that analysts predict the company will be profitable this year. The company's strong return over the last month and the fact that liquid assets exceed short-term obligations are positive indicators of financial health and operational stability.
InvestingPro subscribers can access a wealth of additional insights, with a special Cyber Monday sale offering up to a 55% discount. For those interested in deeper analysis, there are 9 more InvestingPro Tips available for Entain PLC and 12 additional tips for MGM Resorts, providing a more comprehensive understanding of these companies' investment potential.
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