Ontario’s BetMGM casino jackpot hits record $1.6M
BetMGM, the popular online casino platform created by MGM Resorts and Entain, hit a major milestone in Ontario with the highest-ever jackpot of CA$1.6 million.This...
BetMGM celebrates record Q1 and first EBITDA profit
BetMGM started 2025 with a significant milestone. For the first time ever, the sports betting and iGaming powerhouse posted positive EBITDA with $4 billion and $443 million, respectively.
Supported by joint owners Entain and MGM Resorts, BetMGM generated $657 million in net revenue in Q1. When compared to Q1 2024, this is an increase of $194 million. Out of the generated $657 million, $198 million came from sports betting.
BetMGM CEO Adam Greenblatt commented:
“The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale.”
All these numbers helped push BetMGM to $22 million in EBITDA, flipping the switch into profitability for the first time. This success isn’t random—it’s the result of smart, strategic investments made earlier in the year, with leadership laser-focused on growth across both betting and gaming.
Good numbers are encouraging investors too, as MGM’s stock saw a boost, and Entain’s shares climbed before settling slightly. The company expects to hit $2.5 billion EBITDA for the whole year of 2025.
BetMGM Canada receives C$110K fine for illegal promotions
Ontario’s gambling regulator, the Alcohol and Gaming Commission of Ontario (AGCO), fined BetMGM Canada C$110,000 for violating the rules on player incentives.According to...
