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Marketing spend: Ladbrokes owner Entain has seen its joint venture with MGM Resorts fall to a £96m loss for the first half of 2024
Ladbrokes owner Entain’s US joint venture BetMGM has said it expects to post a loss for the full year as marketing spending increases.
The US sports betting and gaming group reported a loss of £96m for the first half of 2024.
Entain expects a similar result for the remaining six months and added that investment in its iGaming business during the second half will be higher than initially thought.
Entain said the “higher than planned marketing investment” would be funded by bank debt.
Entain said the “higher than planned marketing investment” would be funded by bank debt.
The investment wave comes as the company seeks to strengthen its presence in the rapidly expanding US market after restrictions were eased in several states.
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