BetMGM CEO Adam Greenblatt said the operator is shifting investment towards higher-value customers and markets in the US as it seeks to navigate an increasingly competitive betting landscape in the country.
Speaking during a post-Q3 investor call, Greenblatt set out how BetMGM is becoming more selective about where it deploys capital. He said that the operator is targeting markets and customer segments where it can achieve stronger returns.
The strategy has seen BetMGM increase its focus on iGaming and multi-product states, such as Nevada and Alberta. It is also now placing more emphasis on higher-value, higher-staking sportsbook customers and reducing investment in lower-return online sportsbook-only markets.
“Consistent with our strategy, we’ve remained nimble and disciplined, leaning into better MGM strengths and where we can achieve the most attractive returns,” Greenblatt said.
“This has seen us increase our focus on iGaming, multi-product states, Nevada, and most recently Alberta, as well as higher value, higher staking players, particularly in online sports betting (OSB), while also reducing investment in certain lower return OSB-only markets.”
Greenblatt said the strategy has allowed BetMGM to maintain its position in the US despite the reduction in marketing investment.
The operator revealed in its Q3 update that it held around 8% market share in sports betting and 20% in gaming, with a 14% share overall in its active markets.
“Our continued optimisation of media channels, geographic targeting, and marketing mix is driving strong customer acquisition and attractive ROIs across both iGaming and online sports,” he said.
Marketing efficiency supports BetMGM’s strategy
Greenblatt said BetMGM’s more targeted approach is also improving the efficiency of its customer acquisition. He revealed that the operator had seen a reduction in customer acquisition costs (CPAs) in recent months.
“What’s been very good for us in recent weeks, since the back end of the World Cup, is the acquisition environment has improved a lot,” Greenblatt said.
“Our cost per acquisition has meaningfully reduced, and our predicted returns, as measured in months to payback; we haven’t seen returns this favourable since the beginning of the year and the back end of last year.”
He added that BetMGM would continue to invest in acquisition where returns remain attractive, while also putting greater emphasis on player retention as its markets mature.
The comments were supported by analysts at Macquarie, who said BetMGM continues to generate efficiencies through better acquisition economics, lower customer acquisition costs, payment processing improvements and operating leverage.
Analysts noted that customer acquisition returns were now at their most attractive levels in several quarters. They also noted the stability of market share, despite reduced marketing spend on OSB.
Dingnews.com 15/10/2026