BetMGM’s first-quarter net revenue up 34%
BetMGM one of the leading sports betting and iGaming operators across North America, jointly owned by Entain and MGM Resorts International is today providing an update on its 1Q 2025 performance.
BetMGM’s strong momentum from 2H 2024 continued during 1Q 2025, driven by its leading iGaming offering and strengthened sports product, and refined approach to player management
1Q Net Revenue up +34% YoY to $657 million with strong growth across both iGaming (+27%) and Online Sports (+68%). Positive 1Q EBITDA and underlying trends reaffirm confidence that FY 2025 will be EBITDA positive.
Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan.
The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale. In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavorable sports outcomes during key moments in the quarter.
As we approach May, we remain confident in achieving full year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter.”