BetMGM ups full year guidance after strong second quarter
BetMGM has enjoyed a strong second quarter and first half performance as its ongoing strategic execution drives strong and profitable growth with Q2 revenue up 36 per cent year-on-year.
First half revenue was up 35 per cent year-on-year with EBITDA of $109m, up $232m year-on-year. Its iGaming offering and enhanced player engagement delivered 2Q revenues up 29 per cent whilst a strong online sports performance with 2Q revenues, up 56 per cent, driven by refined player marketing and management and strengthened product. It is upgrading its FY25 guidance and increased confidence in path to $500m EBITDA in coming years. It expecst FY25 Net Revenue of at least $2.7bn and EBITDA of at least $150m. In Q2, it secured a stabilised 14 per cent GGR market share in active markets with iGaming at 22 per cent and online sports at eight per cent, further cementing its podium position in the market.
Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “BetMGM has seen a strong first half of the year, delivering significant revenue and EBITDA growth that is underpinned by the ongoing execution of our strategic plan. The momentum we have built since the second half of 2024 accelerated through the first half of 2025. Our iGaming business continues to deliver new records as we showed why BetMGM is the go-to destination for all players, and in Online Sports, our refined player targeting and management capabilities have driven strong engagement and player KPIs across the board. BetMGM is healthier than it has ever been, a testament to the hard work of our teams and colleagues across the business. Our stronger than expected performance through 1H 2025 positions us well for the rest of the year, reinforcing our confidence in the future and the many opportunities ahead.”
