BetMGM is redirecting investment towards higher-value customers and markets as competition intensifies across the US betting industry. CEO Adam Greenblatt outlined the strategy during a post-third-quarter investor call, explaining that the company is becoming more selective about where it spends on growth.
Greater Focus on iGaming and Multi-product Markets
BetMGM is prioritising iGaming and markets where it can offer multiple products, including Nevada and Alberta. It is also focusing on higher-staking sportsbook customers while reducing investment in online sports betting markets that deliver weaker returns.
Lower Acquisition Costs Improve Returns
Greenblatt said targeted marketing and more efficient media spending have helped the company maintain its position despite reduced marketing investment. He also reported that customer acquisition costs had fallen, improving the expected time needed to recover acquisition spending.
BetMGM plans to continue investing where returns remain attractive while placing greater emphasis on retaining existing customers as markets mature.
