BetMGM Cuts Sports Betting Spend as Prediction Markets Grow

BetMGM is reducing investment in lower-return US sports betting markets as competition from prediction platforms puts additional pressure on operators. The company is directing more resources toward online casino gaming and higher-spending customers, following a third quarter that delivered revenue growth despite a decline in active sportsbook users. CEO Adam Greenblatt outlined the strategy during BetMGM’s October 13 business update, explaining that the MGM Resorts and Entain joint venture has become more selective about customer acquisition and market spending.