BetMGM raises 2025 revenue outlook to $2.6 billion as online growth accelerates

BetMGM has increased its full-year revenue guidance for 2025 to at least $2.6 billion, up from the previous estimate of $2.4 billion to $2.5 billion, following a strong performance in the first half of the year. The update was shared by Entain plc in a regulatory disclosure, highlighting continued growth in both online sports betting and iGaming.

The operator reported a 34% year-on-year increase in net revenue during the first quarter, a trend that has reportedly carried into the second quarter through mid-June. As a result, BetMGM now expects its adjusted EBITDA to reach a minimum of $100 million in 2025, a significant turnaround from its $244 million EBITDA loss in 2024.

“BetMGM remains excited about the significant opportunities ahead,” Entain said in the update. “Its strengthened business, revised strategic approach, and performance momentum, further reinforce its confidence in future growth prospects and pathway to $500 million EBITDA in the coming years.”

The revenue gains were largely driven by higher player engagement and increased betting volumes. In Q1 alone, online sports betting revenue surged by 68%, while iGaming saw a 27% increase. BetMGM also secured early approval for market access in Missouri, positioning itself ahead of the state’s planned launch of online sports betting in December.

The company’s latest financial targets reflect a broader upward trend in parent company Entain’s performance. Entain posted a 9% increase in net gaming revenue during Q1 2025, although the figure dropped to 6% when BetMGM’s contribution was excluded.

Stella David, who was recently appointed as Entain’s permanent CEO after serving in an interim capacity, is expected to oversee the next phase of growth. A more detailed breakdown of BetMGM’s Q2 results and half-year performance is scheduled for release on July 29.