BetMGM Experiences Remarkable Growth in Q2 and H1 2025, Raises FY2025 Forecast

BetMGM Reports Strong Second Quarter and First Half Results for 2025

BetMGM LLC, a leading name in sports betting and iGaming across North America, has announced impressive financial results for the second quarter (2Q) and first half (1H) of 2025, showcasing its strategic execution's positive outcomes. The company, a partnership between MGM Resorts International and Entain plc, provided an upbeat outlook for the fiscal year 2025.

Key Financial Highlights

In 2Q 2025, BetMGM's net revenue soared by 36% year-over-year (YoY) to reach $692 million, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) skyrocketed to $86 million, up from a mere $8 million in the previous year. For the first half of 2025, the growth trend continued, with net revenue increasing by 35% YoY, culminating at $1.35 billion. This impressive growth resulted in a twofold EBITDA rise to $109 million, attributed largely to a successful execution of their strategic initiatives.

The iGaming division generated $449 million in revenue, which marks a 29% increase YoY, aided by a rich offering of exclusive content and innovative player engagement tools. Online sports betting exhibited even more remarkable growth, with a 56% revenue increase reaching $228 million, spurred by enhanced marketing strategies and product improvements.

CEO Adam Greenblatt commented, "Our strong performance throughout 1H 2025 validates our strategic efforts and highlights how BetMGM has emerged as the preferred destination for online gaming enthusiasts. The momentum we’ve built since late 2024 has accelerated further this year, showcasing BetMGM's strength in performance. Our iGaming initiatives are delivering record results, highlighting our appeal to a wide range of players."

Increased FY2025 Guidance

Given the robust performance in the first half of the year, BetMGM has raised its guidance for the entire fiscal year 2025. The company now expects net revenue of at least $2.7 billion and an EBITDA of not less than $150 million. This upward revision reflects strong confidence in achieving sustainable growth, with aspirations of reaching $500 million in EBITDA over the coming years.

Operational Achievements

BetMGM's operational achievements in 2025 have been commendable. Their strategic focus on providing unparalleled content and enhanced experiences for players led to a 7% increase in average monthly active players, with player engagement metrics revealing that players are more active than ever. Notably, BetMGM secured a 14% share of the Gross Gaming Revenue (GGR) market in active jurisdictions, underlining its dominant position in both iGaming and online sports betting segments.

The company also reported that it continues to invest in both its iGaming and online sports verticals, aiming to maintain a steady influx of new players while retaining existing ones. This commitment has yielded significant improvements in market dynamics, allowing BetMGM to establish a stable foothold amidst fierce competition.

Future Growth Strategies

Moving forward, BetMGM is set to capitalize on its growing player base and robust market presence by further broadening its entertainment offerings, including unique omnichannel experiences that merge online and retail into a seamless player journey. The anticipated launch of innovative features and an enhanced interface aims to improve the overall user experience, ensuring that BetMGM retains its competitive edge.

With the second quarter’s successful outcomes and the raised guidance, BetMGM is poised not only for continued financial success but also for impressive long-term growth in the dynamic online gaming arena. The ongoing evolution of the regulatory landscape also presents opportunities for further expansion, and BetMGM intends to leverage this effectively in the years to come.