BetMGM, the joint venture between Entain and MGM Resorts International, has significantly upgraded its full-year 2025 financial outlook, signaling strong performance and accelerating momentum across its online sports betting and iGaming operations. The company now expects net revenue to exceed $2.6 billion, up from a prior projection of $2.4–$2.5 billion.
Q1 Growth Sets the Tone for Upgraded Projections
The revised guidance is grounded in an exceptional 34% year-on-year increase in net revenue for Q1 2025, with strong performance continuing into the second quarter. This upward trend reflects BetMGM’s increasingly dominant position in the rapidly expanding US online betting landscape, supported by both its digital sportsbook and online casino offerings.
Unlike previous forecasts that cautiously projected break-even EBITDA by year-end, BetMGM now anticipates positive EBITDA exceeding $100 million—a milestone that highlights the company’s evolving efficiency and scalable growth strategy.
iGaming and Sports Betting Driving Profitability
While online sports betting has historically faced challenges around profitability due to high acquisition and marketing costs, BetMGM reports a positive contribution from its sportsbook operations for the first time. Meanwhile, its iGaming division continues to be a consistent profit engine, benefiting from repeat engagement, higher margins, and expanding product offerings.
This balanced performance across verticals demonstrates that BetMGM is not only growing but also narrowing its path toward long-term financial sustainability. The company remains on track for its mid-term goal of generating $500 million in annual EBITDA, as outlined in earlier strategic roadmaps by Entain and MGM Resorts.
New Content and Market Expansion Fuel Growth
BetMGM’s recent content partnership with Push Gaming further enhances its iGaming appeal. The deal, which introduces new games such as Bellagio Diamonds and MGM Grand Gamble exclusively to Michigan players, also marks Push Gaming’s first U.S. launch outside Ontario—a sign of BetMGM’s pull as a platform for international developers looking to scale in the U.S.
In addition, the operator’s May 2025 partnership with Century Casinos to launch a sportsbook in Missouri—slated to go live in December—underscores its aggressive market expansion strategy.
Confidence in Strategy, Eyes on July Update
Entain and MGM Resorts credited the upgraded outlook to refined operational strategies, customer retention improvements, and disciplined cost control. A more detailed update on BetMGM’s H1 2025 financials and strategic direction will be published on 29 July 2025, which is expected to provide further clarity on long-term targets.
Conclusion: BetMGM Enters a New Phase of Profit-Driven Growth
As U.S. online betting matures, BetMGM’s revised projections highlight its successful transition from growth-at-any-cost to profitable scaling. With strong revenue, operational efficiency, and expanding market presence, BetMGM is not just keeping pace with competitors like FanDuel and DraftKings—it is positioning itself as a future leader in both sportsbook and iGaming verticals. The upgraded guidance reflects a broader industry shift toward sustainable, regulated, and data-driven growth.
