BetMGM raises 2025 revenue outlook to $2.75 billion after strong third quarter | Yogonet International
Summary
BetMGM reported a strong Q3 performance, lifting its full-year 2025 revenue outlook to at least $2.75 billion. Third-quarter net revenue rose 23% year-on-year to $667 million, driven by gains in both online sports betting and iGaming. EBITDA swung to a $41 million profit from a $16 million loss the prior year, and average monthly active users grew 6% to 902,000.
Online sports betting revenue jumped 36% to $202 million with handle up 13% at $3.16 billion, while iGaming revenue increased 21% to $454 million (year-to-date iGaming up 26% to $1.35 billion). BetMGM said it holds a roughly 15% gross gaming revenue market share in its active markets (21% in iGaming, 8% in online sports betting).
The operator raised full-year EBITDA guidance to about $200 million (from a prior baseline) and plans to return at least $200 million to parent companies (Entain and MGM Resorts) by the end of 2025, while keeping a minimum unrestricted cash balance of $100 million. Management credited improved marketing efficiency, player management and platform/product improvements for the uplift.
Key Points
- Q3 net revenue: $667m, up 23% from $544m a year earlier.
- EBITDA turned positive at $41m vs a $16m loss in the prior-year quarter.
- Average monthly active users rose 6% to 902,000.
- Online sports betting revenue grew 36% to $202m; handle was $3.16bn (up 13%).
- iGaming revenue increased 21% to $454m; YTD iGaming revenue is $1.35bn (up 26%).
- Maintained ~15% gross gaming revenue market share overall (21% iGaming, 8% online sports betting).
- Raised 2025 revenue guidance to at least $2.75bn and EBITDA to about $200m; plans $200m+ return to parents in 2025.
Why should I read this?
Quick version: BetMGM’s not just growing — it’s getting healthier. Revenue and profitability are up, guidance nudged higher, and there’s real cash being returned to parents. If you follow US sports betting, iGaming trends, or the balance sheets of Entain/MGM, this is worth a skim — we did the legwork so you don’t have to.
