Key Moments:
- Jarrod Schwarz has been elevated to Chief Operating Officer, a new role at BetMGM
- In July 2025, BetMGM surpassed FanDuel to become Kansas’ second leading sportsbook by total wagers
- BetMGM raised its full-year revenue forecast to at least $2.7 billion following a 35 percent increase in first-half revenue
Leadership Expansion: Schwarz Steps into COO Position
BetMGM has made a significant leadership move by naming Jarrod Schwarz as its first-ever Chief Operating Officer (COO). Schwarz, who previously spent nearly five years as Chief Product Officer, will now manage product, customer operations, technology, and trading teams throughout the organization.
🚨BetMGM Appoints Jarrod Schwarz to Chief Operating Officer🚨
We’re proud to share that Jarrod Schwarz has been promoted to Chief Operating Officer, a newly created role at @BetMGM. After nearly five years as Chief Product Officer, Jarrod will now oversee product, customer… pic.twitter.com/JQUeU0p2Jk
— BetMGM News (@BetMGMNews) September 26, 2025
With more than 20 years of background in digital product development for brands across e-commerce, sports, and entertainment, Schwarz brings extensive expertise to this new position. His prior experience includes time at Disney, where he contributed to the launch of ESPN+. His career also includes senior roles at eBay and Bloomspot, a tech startup ultimately acquired by JP Morgan Chase.
“Jarrod has been an integral part of our incredible team, building BetMGM into one of the most recognisable and successful brands in sports betting and iGaming,” said Adam Greenblatt, CEO of BetMGM. “He has consistently demonstrated strong leadership, strategic thinking, and a deep understanding of our business. I’m confident that this change will ensure we continue to deliver exceptional products and experiences to our players.”
Schwarz said on his appointment, “I’m grateful for the opportunity to step into this role.” He added, “It’s a privilege to continue the incredible journey we’ve been on at BetMGM, building on our momentum in sports betting and iGaming. Together with our exceptionally talented team, I look forward to pushing the boundaries of innovation and strengthening our position as a market leader.”
Corporate Structure Aligns for Strategic Growth
BetMGM has also initiated broader changes to its organizational structure alongside Schwarz’s promotion. Key strategy, corporate development, and selected business development functions now report to CFO Gary Deutsch within the Finance division. In addition, the company recently formed two new verticals, with Oliver Bartlett leading iGaming and Raymond Doyle heading Sports. These updates are designed to streamline planning, improve cross-functional collaboration, and strengthen the company’s strategic capabilities.
Market Shake-Up: BetMGM Rises in Kansas
In July 2025, BetMGM emerged as Kansas’ second most popular sportsbook, overtaking FanDuel’s total betting volume for the first time. The new ranking reflects an increasingly dynamic and competitive market environment, with operators vying for market share.
| Sportsbook | Total Wagers (July 2025) | Rank |
|---|---|---|
| DraftKings | $58.6 million | 1 |
| BetMGM | $53.4 million | 2 |
| FanDuel | $36.9 million | 3 |
This development marks the first time BetMGM has outranked FanDuel in the state, potentially indicating a shift in market dynamics for Kansas.
Financial Performance and Industry Concerns
BetMGM announced robust results for the first half of the year and increased its projected full-year revenue to at least $2.7 billion. The company’s U.S. sports betting operations achieved a 35 percent increase in first-half revenue, driven by high demand for both its online sports betting and iGaming platforms.
Amid this strong financial performance, Adam Greenblatt has been vocal regarding regulatory issues affecting the gaming industry. He has expressed concerns that go beyond standard corporate commentary and highlight the frustrations of operators firmly committed to compliance in a landscape where some competitors may benefit from regulatory gaps.
Addressing the sweepstakes casino sector, Greenblatt commented: “We believe sweeps should be illegal iGaming, and it’s bad for the regulated sector. It’s bad for state revenues. It’s bad for players.” The sentiment is shared by many in the industry, with the American Gaming Association stating that illegal gambling operators handled approximately $109 billion in bets during 2024, potentially costing the United States up to $17.3 billion in tax revenue.
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- Author
Daniel Williams
