BetMGM revenue increases in Q3
The operator has reported net revenue of $667m, up 23 per cent from the same period in 2024.
US.- BetMGM, jointly owned by Entain and MGM Resorts has released its financial results for the third quarter of 2025. The operator reported net revenue of $667m, up 23 per cent year-over-year.
Igaming net revenue totalled $454m, up 21 per cent from the same period in 2024, and online sports net revenue was $202m, an increased 36 per cent. EBITDA was $41m. In Q3, igaming and sports betting handle totalled $3.16bn, up 13 per cent.
For H1, revenue was $1.35bn, up 35 per cent. The operator’s full-year guidance is $2.75bn in revenue and EBITDA of $200m.
Adam Greenblatt, chief executive officer of BetMGM, said: “BetMGM’s momentum from H1 continued into Q3, underpinned by the ongoing execution of our strategic plan. The execution in operations we have described this year – improved marketing efficiency, player management, brand positioning, and product and platform improvements – all contributed to our strong revenue growth and material cash flow increase from both sides of the business.
“Strong underlying metrics and margin outperformance during July and August support our confidence in raising guidance for full year 2025. Furthermore, we have reached yet another inflection point in our journey, returning operating cash flow back to Entain and MGM Resorts. My previous statements that BetMGM is healthier than it has ever been still ring loudly, and our stronger than expected performance through Q3 positions us well for the rest of the year and into 2026.”
The operator recently named Jarrod Schwarz as chief operating officer, a new position. After serving as the company’s chief product officer for nearly five years, Schwarz will oversee product, customer operations, technology and trading in the new role.
Meanwhile, Entain’s results were also released today. It reported that its Q3 revenue was up 6 per cent year-on-year, beating expectations for the quarter. The result means that year-to-date revenue was up by 7 per cent, and by 3 per cent when excluding BetMGM.
