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BetMGM reported continued profitable growth in the second quarter of 2026, with net revenue increasing three per cent year-on-year to $711m as the operator’s iGaming business continued to outperform its online sportsbook.
The Entain and MGM Resorts joint venture generated Adjusted EBITDA of $74m during the quarter, extending its run of positive earnings and cash generation. iGaming revenue rose eight per cent to $483m, while online sports betting revenue was unchanged at $228m despite a two per cent increase in betting handle to $3.49bn. Sports betting gross gaming revenue hold improved to 10.3 per cent from 9.8 per cent a year earlier.
For the first six months of 2026, BetMGM reported net revenue of $1.41bn, up four per cent year-on-year, driven by sustained growth in its online casino business and continued expansion across regulated North American markets.
Despite the positive performance, BetMGM said it now expects both full-year net revenue and Adjusted EBITDA to finish towards the lower end of its previously announced guidance ranges, reflecting trading performance during the first half of the year. Reuters also reported that management indicated its longer-term $500m EBITDA target would take longer to achieve amid intensifying competition, including from emerging prediction market platforms.
Chief Executive Officer Adam Greenblatt said the business had continued to execute its strategy while maintaining disciplined investment. “BetMGM has started 2026 well and continues to execute with discipline,” Greenblatt said. “Our underlying player fundamentals remain healthy, and we are generating positive cash flow and Adjusted EBITDA, enabling us to continue to invest in our highest return opportunities.”
He added that the company remained focused on leveraging its leading iGaming position in multi-product states, its omnichannel advantage in Nevada and its higher-value customer base to support long-term profitable growth.
