its U.S. revenue rising 159% year-on-year to 652 million pounds , performing much better than its UK and international businesses, which saw slower sales growth. The company now expects its U.S. division to generate positive EBITDA in 2023 and plans to spin off and list part of the business. Shares rose as much as 9% on Tuesday morning.
That positive news should bode well for UK rival Entain, which has an American joint-venture with MGM Resorts International . Earlier this year, the U.S. group walked away from an $11 billion takeover, but can return in July. The Ladbrokes-owner’s shares have grown 150% in the last month, and are now some 40% above MGM’s offer in January. With the U.S. market growing rapidly, MGM will have to pay up if it wants to keep playing. Inflation sours upside for Tate & Lyle split