The operator also more than doubled its adjusted EBITDA, which rose 112% to $86 million. iGaming remained BetMGM’s biggest source of revenue, bringing in $483 million, up 6% from the same period last year. Online sports betting revenue increased by 7% to $216 million, while betting handle grew by 3% to $3.24 billion. The operator reported an average of 878,000 monthly active players during the quarter, down 3% from 902,000 a year earlier, but revenue per active player increased for both products.
BetMGM attributed its results to improvements to its sportsbook, new gaming content, and strong player activity during the World Cup. The company also reported a successful launch in Alberta, where player metrics are performing above those recorded during its launch in Ontario, although it didn’t disclose separate figures for the Canadian province.
Adam Greenblatt, CEO of BetMGM, said:
“BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth. We have continued to prioritize our areas of strength, particularly our iGaming franchise, and remain operationally nimble as we navigate a highly competitive environment.”
For the first nine months of 2026, net revenue reached $2.12 billion, up 5% year-on-year, while adjusted EBITDA increased 5% to $185 million. Despite the growth, BetMGM expects to finish the year toward the lower end of its revenue guidance of $2.9 billion to $3.1 billion and adjusted EBITDA guidance of $300 million to $350 million.
