BetMGM says it’s elevating its full-year revenue forecast and plans to present a minimum of $200 million again to its joint house owners, Entain and MGM Resorts Worldwide, after posting stronger-than-expected results for the third quarter of 2025.
The corporate, which operates sports activities betting and on-line gaming platforms throughout North America, stated in a press release that it introduced in $667 million in web income for the quarter, a 23% improve from the identical time final yr.
Its iGaming income grew 21% yr over yr, and on-line sports activities income rose 36%. BetMGM additionally reported third-quarter EBITDA of $41 million, which is $57 million increased than final yr.
“BetMGM’s momentum from H1 continued into Q3, underpinned by the continuing execution of our strategic plan,” stated Chief Government Officer Adam Greenblatt. “The execution in operations now we have described this yr – improved advertising effectivity, participant administration, model positioning, and product and platform enhancements – all contributed to our sturdy income progress and materials money circulation improve from either side of the enterprise.”
Greenblatt added that “sturdy underlying metrics and margin outperformance throughout July and August assist our confidence in elevating steering for full yr 2025.” He additionally identified that the corporate has “reached yet one more inflection level in our journey, returning working money circulation again to Entain and MGM Resorts.”
BetMGM Q3 2025 revenue rises on on-line sports activities acquire
For the primary 9 months of 2025, BetMGM reported year-to-date web income of $2.016 billion and EBITDA of $150 million. The corporate stated it holds a 15% share of gross gaming income throughout energetic markets, together with 21% in iGaming and eight% in on-line sports activities betting.
BetMGM has raised its full-year 2025 outlook to a minimum of $2.75 billion in web income and about $200 million in EBITDA. It additionally reaffirmed its purpose of producing greater than $500 million in contribution, with positive results expected from online sports, like that of its first quarter.
The corporate plans to distribute further money to its guardian corporations every quarter whereas protecting a minimum of $100 million in unrestricted money available. By the end of 2025, BetMGM expects to have round $100 million in unrestricted money after these distributions.
On the operations aspect, BetMGM highlighted current product upgrades and the success of its “Make it Legendary” advertising marketing campaign, which launched earlier than the soccer season and options actor Jon Hamm. The corporate reported progress in participant acquisition and retention, particularly in iGaming, the place the typical variety of month-to-month energetic customers rose 21% from final yr.
By no means miss a photograph end
Make each play legendary this soccer season pic.twitter.com/jLDC4gwHC5
— BetMGM
(@BetMGM) August 29, 2025
Higher participant engagement and app improvements, akin to reside same-game parlay choices and a refreshed design, additionally helped increase exercise. The corporate stated deal with per energetic buyer climbed 23%, whereas web gaming income per energetic buyer jumped 49% in contrast with a yr in the past.
BetMGM additionally stated it has greater than $250 million in liquidity, made up of $100 million in unrestricted money and an unused $150 million revolving credit score facility.
“BetMGM is more healthy than it has ever been,” Greenblatt stated. “Our stronger than anticipated efficiency via Q3 positions us properly for the remainder of the yr and into 2026.”
Featured picture: BetMGM
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