BetMGM boosts annual forecast on iGaming, online growth
1. BetMGM raised its revenue and earnings forecast, benefitting MGM. 2. Strong growth in iGaming and online sports boosts MGM's outlook.
FAQ
Why Bullish?
The forecast increase suggests increased consumer demand, similar to previous revenue surges in the sector post-legalization in various states, which historically benefited MGM's stock.
How important is it?
The increase in revenue forecasts directly correlates to MGM's joint venture, making it crucial for its stakeholders.
Why Short Term?
Immediate impacts are likely as the revised forecast may influence investor sentiment quickly; the upcoming earnings report should reflect this.