On March 25, 2026, during a public hearing of the Pennsylvania Gaming Control Board (PGCB), BetMGM representatives announced that the operator would begin banning credit card...
BetMGM generates $696M in Q1 revenue
BetMGM has announced its Q1 2026 results, with revenue reaching $696 million, representing a 6% year-on-year growth.
Adjusted EBITDA stood at $25 million, which was an 11% year-on-year marginal increase compared to 2025’s $22 million. At the same time, contributions remained flat at $116 million.
Regarding specific sectors, iGaming revenue increased by 9% and reached $481 million, with online sports revenue rising by 4% to $203 million. Company executives noted that the customer-friendly sports outcomes during the Super Bowl and March Madness led to the visible iGaming growth.
CEO of BetMGM, Adam Greenblatt, commented:
“Although it has been a steady start to the year, BetMGM is delivering on our strategic plan, carrying forward the initiatives that drove our transformation in 2025. We are generating sustainable, profitable growth and paying cash to our parent companies. Our iGaming business is growing at scale, and our online sports business continues to strengthen despite a challenging market in Q1.”
The company recorded a 9% drop in average monthly active users, with the number reaching 597,000, as BetMGM connected the decrease to disciplined acquisition and stricter player management.
As a result, the company adjusted its expected full-year revenue, expecting to generate a net revenue from $2.9 billion to $3.1 billion in 2026, which is slightly less compared to the previous guidance of $3.1 billion to $3.2 billion.
The Pennsylvania Gaming Control Board (PGCB) has fined BetMGM $100,000 for not having the appropriate measures to prevent fraudulent accounts from using the platform.The...
