BetMGM has kicked off 2025 with a strong set of numbers, showing sharp growth in both net revenue and earnings. The joint venture between Entain and MGM Resorts pulled in $1.35bn over the first six months, a 35% rise on last year. EBITDA came in at $109m, a big swing from the loss posted in H1 2024.

  • Q2 2025 net revenue came in at $692m, up 36% year-on-year, with EBITDA at $86m for the quarter. iGaming net revenue climbed 29% while online sports betting surged 56%.

  • Total sports betting handle hit $3.4bn in Q2 2025, 25% higher than the same period in 2024.  Handle reflects the total online sports handle (inclusive of cash and bonus bets) taken in the period.

  • Across the half-year, iGaming brought in $891m in net revenue, supported by exclusive content and stronger engagement tools. Online sports betting net revenue reached $422m, up 61% from last year. Average monthly active players were up 6% year-on-year.

  • BetMGM said its GGR market share sat at 14% in active markets, with iGaming holding 22% and online sports 8%. The company also noted that its $150m credit facility remains unused and no extra cash is expected from its owners.

  • Sports betting growth was driven by an upgraded product, with more betting options, better parlay features and a smoother app experience. Handle per active player rose 34%, while net gaming revenue per active player jumped 70% in the first half.

  • The iGaming arm saw more players and longer sessions, with monthly active users up 38% and active player days up 34%.

  • BetMGM operates iGaming and Online Sports Betting in five markets and Sports Betting only (combined online and retail) in 24 markets.
  • CEO Adam Greenblatt said: “Our stronger than expected performance through H1 2025 positions us well for the rest of the year, reinforcing our confidence in the future.”

  • Off the back of this momentum, BetMGM raised its full-year guidance. The operator now expects at least $2.7bn in total net revenue and $150m in EBITDA for 2025, while maintaining its medium-term target of $500m EBITDA in future years.

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