BetMGM recently raised its full-year 2025 earnings guidance. The move follows a 23% increase in third-quarter revenue. Growth in both online sports betting and iGaming drove the rise.
BetMGM recently raised its full-year 2025 earnings guidance after reporting a 23% jump in third-quarter revenue. The growth was driven by both online sports betting and iGaming.
Average monthly active users rose 6% to 902,000. EBITDA reached $41 million, recovering from a $16 million loss a year ago.
The handle rose 13% to $3.16 billion. Revenue from online sports betting surged 36% to $202 million in the third quarter. While handle per active user rose 23%, net gaming revenue per active user increased 49%.
iGaming revenue rose 21% to $454 million. With total group revenue reaching $2.02 billion, year-to-date, revenue from the segment is up 26% at $1.35 billion.
According to the company, it maintained a 15% gross gaming revenue market share in its active markets. This includes 21% in iGaming and 8% in online sports betting.
Now, BetMGM expects full-year revenue of at least $.275 billion and EBITDA of about $200 million. This is in comparison with a prior view of at least $.2.7 billion. With online sports betting expected to remain profitable, it forecast more than $500 million in contributions for the year.
Adam Greenbelt, CEO, said BetMGM’s H1 momentum carried into Q3, supported by the continued execution of their strategic plan.
He added that improved marketing efficiency, player management, brand positioning, as well as product and platform improvements — all contributed to their strong revenue growth and material cash flow increase from both sides of the business.
Greenblatt said strong underlying metrics and margin outperformance in July and August supported the decision to lift guidance. He added the company reached another inflection point, returning operating cash flow to Entain and MGM Resorts.
