BetMGM has ended FY 2025 with a stronger-than-expected set of numbers after a year of operational changes. Growth was recorded across both iGaming and online sports betting.  BetMGM FY 2025 also marks a clear shift into sustained profitability.

• BetMGM generated net revenue of USD 2.8bn in FY 2025, up 33% year-on-year. iGaming accounted for USD 1.83bn of the total, while online sports betting delivered USD 903m. EBITDA for the year came in at USD 220m, reversing losses reported in the previous financial year.

• Online sports betting revenue rose 63% year-on-year as hold levels normalised and player management improved. Total sports handle increased to USD 15.2bn, representing 16% growth compared to FY 2024. Net gaming revenue hold reached 5.9%, an improvement of 170 basis points.

• iGaming revenue increased 24% year-on-year, supported by higher engagement and repeat play. Average monthly actives across products climbed 4% to 979,000 during the year. The number of active player days rose by 14% compared to the prior period.

• The final quarter of the year saw net revenue reach USD 780m, up 39% year-on-year. Online sports betting revenue jumped 93% in Q4 2025, with December highlighted as a strong trading month. EBITDA for the quarter totalled USD 71m.

• BetMGM returned USD 270m in cash to Entain and MGM Resorts during Q4 2025. Looking ahead, the operator expects FY 2026 net revenue between $3.1bn and $3.2bn, with Adjusted EBITDA forecast at USD 300m to USD 350m. CEO Adam Greenblatt said: “2025 was a record year for BetMGM, outperforming expectations with the execution of our refined strategy coming together at scale.”

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