BetMGM FY EBITDA guidance raised to $150 million after positive Q2

BetMGM FY EBITDA guidance raised to $150 million after positive Q2

Article Date: Tue, 29 Jul 2025 09:14:57 +0000
Source URL: https://igamingbusiness.com/finance/quarterly-results/betmgm-full-year-guidance-positive-q2/
Image: BetMGM Q2 image

Summary

BetMGM has upgraded its full-year 2025 EBITDA guidance to at least $150 million after a strong Q2 performance, marking the second consecutive guidance raise this year. The operator also lifted its revenue target to at least $2.7 billion. Q2 revenue grew 36% year‑on‑year to $692 million, driven by double‑digit growth in both iGaming and sports betting. Group EBITDA for H1 reached $109 million, reversing losses from 2024.

Key Points

• • Full‑year 2025 EBITDA guidance increased to at least $150 million (up 50% from prior guidance).
• • FY revenue target raised to at least $2.7 billion (from $2.4 billion previously).
• • Q2 revenue hit $692 million, a 36% YoY increase; iGaming $449m (+29%), sports betting $228m (+56%).
• • Sports betting handle for Q2 was $3.43 billion (up 25%); H1 handle was $7.5 billion (up 27%).
• • Q2 EBITDA was $86 million, $78 million higher than Q2 2024; H1 group EBITDA reached $109 million versus a $123 million loss in H1 2024.
• • Retail revenue fell 5% to $16 million; average monthly active players rose 7% in Q2 (6% for H1).

Content Summary

BetMGM reported a strong Q2 driven by both online casino (iGaming) and sports betting. iGaming remains the largest revenue stream at $449m, supported by exclusive content and enhanced player engagement tools. Sports betting delivered substantial growth, with revenues up 56% and improved player targeting and product strength cited as key drivers. Retail and other segments declined slightly.

The upgrade to at least $150m EBITDA for FY2025 follows positive momentum since H2 2024 and a better‑than‑expected first half of 2025. Management highlighted execution of strategic plans and increased confidence in future opportunities. The FY outlook now implies a material turnaround from the $244m EBITDA loss reported in FY2024.

Context and relevance

For investors and industry watchers this is a notable pivot: BetMGM is shifting from heavy losses to clear profitability guidance, which alters market expectations for the US online gambling sector. The combination of product improvements, exclusive content and refined player management illustrates how operators are monetising scale and engagement. Competitors, suppliers and potential partners should take note — the benchmarks for growth and efficiency are rising.

Why should I read this?

Because it’s not just better numbers — it’s proof that BetMGM’s strategy is working. If you follow iGaming, sports betting or casino finance, this update matters: guidance hikes mean the company is on a faster path to profit, which affects investment calls, market share battles and partnership talks. Short version: BetMGM’s no longer just growing revenue — it’s starting to make real money.

Author note

Punchy: This is a milestone quarter. Moving from a multi‑hundred million EBITDA loss in 2024 to a $150m+ guidance for 2025 signals a structural improvement — worth reading in full if you track sector profitability or market dynamics.

Source

Source: https://igamingbusiness.com/finance/quarterly-results/betmgm-full-year-guidance-positive-q2/