BetMGM has released an impressive trading update for fiscal 2025, reporting better-than-expected performance across its North American iGaming and online sports betting operations, as well as significant progress towards positive EBITDA.
BetMGM has released an impressive trading update for fiscal 2025, reporting better-than-expected performance across its North American iGaming and online sports betting operations, as well as significant progress towards positive EBITDA.
Net revenue for iGaming hit US$1.83 billion (£1.33bn), up 24 percent, y-o-y; while online sports betting net revenue totalled US$903 million (£659.2m), an increase of 63 percent.
BetMGM recorded EBITDA of US$220 million (£160.59m), a spectacular result, compared to the loss of FY24.
BetMGM CEO Adam Greenblatt said:
2025 was a record year for us, outperforming expectations with the execution of our refined strategy coming together at scale. BetMGM’s meaningfully improved profitability and material EBITDA generation now sees us returning cash to our parent companies and marks a clear inflection in our growth trajectory. Looking ahead to 2026 and beyond, the strong underlying metrics and health of the business continue to reinforce our confidence in our outlook as we enter the next phase of growth.
BetMGM highlighted its continued focus on its iGaming offering in its trading update, with an emphasis on exclusive and branded content franchises, live dealer content expansion, and cross-selling initiatives designed to drive casino products to online sports betting customers.
The operator also cited its multi-channel presence in Nevada as a growth driver, driven by the integration of digital products and MGM Resorts’ land-based operations, improved CRM capabilities, and loyalty-related experiences.
