BetMGM revenue rises in Q1
Net revenue was up 6 per cent year-over-year.
US.- BetMGM has reported net revenue of $696m for Q1. That’s a rise of 6 per cent year-over-year.
According to the company’s report, igaming net revenue increased by 9 per cent to $481m, while online sports net revenue increased by 4 per cent to $203m. The handle totalled $4.2bn, up 3 per cent.
Adjusted EBITDA was $25m, up 11 per cent, with both igaming and online sports making a positive contribution.
The company said performance reflected “continued successful execution of refined player management strategy, delivering robust igaming growth alongside softer online sports growth including player-friendly sports results.”
Adam Greenblatt, chief executive officer of BetMGM, commented: “Although it has been a steady start to the year, BetMGM is delivering on our strategic plan, carrying forward the initiatives that drove our transformation in 2025. We are generating sustainable, profitable growth and paying cash to our parent companies. Our igaming business is growing at scale, and our online sports business continues to strengthen despite a challenging market in Q1.
“As we look to the rest of the year, we will continue to focus on our areas of strength, particularly in igaming, multi‑product states, omnichannel in Nevada, and servicing our premium mass sports players. These give us confidence that we will deliver on our updated 2026 guidance as well as continue on the path to $500m of adjusted EBITDA in 2027.”
