BetMGM is feeling bullish about 2025. After a strong Q1 showing, the company’s momentum hasn’t let up in Q2. That’s led to a bump in its full-year outlook, with the BetMGM FY 2025 guidance now moving higher.
BetMGM saw continued growth from April through mid-June, with both iGaming and online sports betting driving gains. The business says net revenue growth remains in line with the 34% year-on-year growth posted in Q1. Handle volumes are behind the surge, with customer engagement holding steady.
As a result, BetMGM FY 2025 guidance has been raised. Net revenue is now expected to hit at least $2.6 billion, compared to earlier projections of $2.4–2.5 billion. This is the second guidance revision this year.
EBITDA is also now projected to be at least $100 million. That’s a jump from the prior guidance of merely being EBITDA-positive. BetMGM says this reflects improved operating leverage across its platform.
The company reiterated its expectations that Online Sports will be contribution-positive for the full year. iGaming is also delivering solid contribution margins, helping drive profitability.
BetMGM credits its results to a revamped strategic approach and an improved product experience. It also noted that recent product launches and tech improvements are yielding strong returns.
Looking further ahead, BetMGM is still eyeing $500 million in EBITDA over the coming years. Management said the current pace gives them more confidence in hitting that long-term target.
“This upgraded guidance is a testament to the resilience of our model and execution,” said a BetMGM spokesperson. The firm remains optimistic about scaling further in North America.
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