BetMGM will use the rest of 2024 to focus on tech reinvestment and player acquisition, MGM Resorts International’s chief executive officer reaffirmed during a webinar Tuesday.

After posting its first profitable quarter in history in 2023, BetMGM is turning to new technologies and a revamped customer acquisition approach, CEO Johnathan Halkyard said during the Deutsche Bank-hosted webinar. He added that new investments in the sports betting product will help BetMGM return to profitability in 2025 or 2026.

“We’ve made great progress this year at BetMGM on all of those fronts,” Halkyard said.

Halkyard said BetMGM’s key growth drivers are a new single sports betting wallet and the further acquisition of a new sports betting tech provider.

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