BetMGM LLC, a sports betting and iGaming operator, is jointly owned by MGM Resorts International (NYSE: MGM) and Entain plc (LSE: ENT). The company reported net revenue of $2.8 billion for the previous fiscal year. This marks a 33% increase from 2025. This is according to a company press release issued recently.
The company posted EBITDA of $220 million for the year. This marks a $464 million improvement compared to the $244 million loss recorded in 2024. This profitability milestone let BetMGM to distribute $270 million to its parent companies in the Q4.
The company’s iGaming segment generated $1.83 billion in revenue, up 24% year over year. Online sports betting revenue rose 63% to $903 million. BetMGM held a 13% gross gaming revenue market share across its active markets, including 21% in iGaming and 8% in online sports betting.
BetMGM CEO Adam Greenblatt said that 2025 was a record year for the company. He added that BetMGM outperformed expectations as its refined strategy successfully scaled.
BetMGM forecasts net revenue of $3.1 billion to $3.2 billion for fiscal year 2026. The company also projects adjusted EBITDA between $300 million and $350 million. By fiscal year 2027, the company expressed confidence in achieving $500 million in adjusted EBITDA.
Now, BetMGM operates in 30 states following its December 1 launch in Missouri. The company reported strong performance in Nevada. Average monthly active users in the state increased 19%, while handle grew 26% year over year.
The company released its financial results ahead of a scheduled investor webcast and Q&A session. During the session, management will discuss performance and outlook.
Entain has experienced numerous notable developments in other recent news. Moody’s downgraded Entain plc’s corporate family rating from Ba1 to Ba2. The agency cited expectations of moderate deterioration in key credit metrics over the next 12–18 months due to substantial tax increases on online gaming and betting activities in the United Kingdom.
