iGaming Q3 saw the early bets placed back in Q2 2025. Now, when the results are in, Betsson, MGM Resorts, Flutter, Entain, Wynn, and DraftKings leave us curious about the...
BetMGM raises 2025 forecast after Q2 revenue jumps 36%
BetMGM lifts 2025 forecast after Q2 revenue jumps 36% year on year, fueled by strong gains in iGaming and online sports betting.
The company reported $692 million in revenue for the three months ending June 30, up from $509 million in the same period last year. EBITDA rose to $86 million, up $78 million year over year.
BetMGM raised its yearly revenue target to at least $2,7 billion and its 2025 EBITDA forecast to at least $150 million.
CEO Adam Greenblatt said:
“BetMGM has seen a strong first half of the year, delivering significant revenue and EBITDA growth that is underpinned by the ongoing execution of our strategic plan.
The momentum we have built since the second half of 2024 accelerated through the first half of 2025. Our stronger-than-expected performance through H1 2025 positions us well for the rest of the year. It reinforces our confidence in the future and the many opportunities ahead.”
iGaming is BetMGM’s largest revenue flow in Q2, generating $449 million, up 29% year over year. Online sports betting rose 56% to $228 million. Retail and other revenue fell 5% to $16 million. Monthly active players rose 7% compared to last year.
Greenblatt added:
“Our iGaming business continues to deliver new records as we showed why BetMGM is the go-to destination for all playersand, in online sports, our refined player targeting and management capabilities have driven strong engagement and player KPIs across the board,” Greenblatt said. “BetMGM is healthier than it has ever been, a testament to the hard work of our teams and colleagues across the business.”
For the first half of 2025, revenue totaled $1.35 billion, up 35% year on year, with iGaming up 28% to $891 million and sports betting up 61% to $422 million.
BetMGM has become a sponsorship partner for all three of Pittsburgh’s major professional sports teams after finalizing a deal with the NHL’s Penguins.
This agreement with...
