BetMGM upgrades financial outlook for 2025
MGM Resorts International and Entain co-owned BetMGM has upgraded its financial outlook for 2025, citing a sustained positive momentum from the first to the second quarter.
The company announced that the robust revenue growth experienced in the first quarter, which grew 34% year-on-year to US$654 million has continued into the second quarter. The growth is attributed to strong net revenues across both igaming and online sports betting.
This sustained strength has allowed the company to revise its financial year guidance for 2025. Net revenue is now projected to be at least US$2.6 billion, an increase from the previous forecast range of US$2.4 billion to US$2.5 billion.
Likewise, EBITDA is expected to be at least US$100 million, upgraded from the prior guidance that the company would simply break even. The company has a long-term strategy to reach an EBITDA of US$500 million in the future.
BetMGM has also reiterated its expectation that its online sports betting business will contribute positively for the whole year, in addition to the strong expected contribution from its igaming operations.
The release accompanying the earnings report also expressed strong optimism about future opportunities, emphasizing that its revised strategy and current performance momentum reinforce its confidence in achieving significant future growth and the US$500 million EBITDA target in the coming years.
Further details on BetMGM’s second quarter performances and the updated 2025 guidance will be provided during an investor call on 29 July 2025.
Dig deeper
Verticals:
Sectors:
Topics:
