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Entain provided an update for BetMGM, the joint venture it owns with MGM Resorts International. BetMGM operates as one of the leading sports betting and iGaming companies across North America.
Entain trades on the London Stock Exchange while MGM Resorts is listed on the NYSE. The two companies jointly own and operate BetMGM in the competitive US market.
BetMGM has been building momentum throughout 2025. The company’s performance has exceeded earlier expectations for the year.
Strong momentum from the first quarter of 2025 continued through the second quarter ending June 13. The company saw robust net revenue growth across both iGaming and online sports betting.
Handle growth drove the revenue increases in both business segments. Trading performance has been consistent with the 34% year-over-year net revenue growth delivered in Q1 2025.
This sustained strength gave BetMGM increased confidence in its full-year performance. The company decided to raise its financial targets based on actual results.
The operator now expects FY 2025 net revenue of at least $2.6 billion. This represents an increase from the previous guidance range of $2.4 billion to $2.5 billion.
The company also upgraded its EBITDA forecast to at least $100 million for FY 2025. Previously, BetMGM had only guided to be EBITDA positive for the year.
BetMGM reiterated that online sports betting will contribute positively to FY 2025. The iGaming segment continues delivering strong contribution margins.
The company maintains its longer-term target of reaching $500 million EBITDA in the coming years.
The company points to significant opportunities ahead in the North American market. BetMGM has strengthened its business operations and revised its strategic approach.
Current performance momentum reinforces management’s confidence in future growth prospects. The company believes its pathway to $500 million EBITDA remains achievable.
The company will provide more details on second-quarter performance at its H1 update scheduled for Tuesday, July 29, 2025. This presentation will include additional guidance and strategic updates.
The upgraded forecasts reflect both strong execution and favourable market conditions. BetMGM continues benefiting from expansion in regulated US states and growing customer adoption.
Both iGaming and sports betting segments are contributing to the improved outlook. The company’s diversified revenue streams provide stability and growth opportunities across different market conditions.
Management expects the positive trends to continue through the remainder of 2025. BetMGM’s market position and operational improvements support the higher guidance ranges.
Following this announcement, BetMGM secured a deal with Push Gaming to bring new games to its Michigan platform. This deal was Push Gaming’s first US launch to date outside Ontario. The deal included MGM-branded exclusives such as MGM Grand Gamble and Bellagio Diamonds.
