Key points:
- BetMGM expects FY 2025 net revenue of at least $2.6bn, up from a prior range of $2.4bn–$2.5bn
- EBITDA is now forecast to exceed $100m, revised from a previous expectation of break-even
- Growth momentum reflects a 34% year-on-year increase in net revenue during Q1 2025
BetMGM has upgraded its full-year 2025 financial guidance following sustained growth in both online sports betting and iGaming through the second quarter.
Jointly owned by Entain and MGM Resorts, BetMGM now expects net revenue of at least $2.6bn for the year, up from earlier projections of $2.4bn to $2.5bn.
This revision follows continued momentum from Q1 2025, which saw net revenue rise by 34% year-on-year – a trend reportedly maintained through mid-June.
The operator also raised its earnings forecast, anticipating a minimum EBITDA of $100m. Previous guidance had only suggested EBITDA would turn positive by year-end.
Contribution from online sports betting is expected to be positive, while iGaming continues to deliver strong returns.
Good to know: A detailed update on the operator’s half-year results and forward guidance is expected on 29 July 2025
Earlier this month, BetMGM partnered with UK-based Push Gaming to bring new titles to its Michigan platform, marking Push Gaming’s first US launch outside Ontario. The partnership includes MGM-branded exclusives like Bellagio Diamonds and MGM Grand Gamble.
In a separate move in May 2025, BetMGM entered into an agreement with Century Casinos to launch a sportsbook in Missouri, set to go live upon market opening in December.
Entain and MGM Resorts said the upgraded guidance reflects confidence in BetMGM’s revised strategy and operational performance, with longer-term ambitions still targeting $500m in EBITDA in the coming years.
The revised outlook follows BetMGM’s Q1 2025 results, released earlier this year, which revealed a sharp uptick in net revenue and a reaffirmation of its US market strategy.
