BetMGM, the joint venture in sports betting and iGaming backed by Entain and MGM Resorts, announced its second-quarter net revenue at $711 million, reflecting a 3% year-on-year increase.

This growth was largely driven by an 8% rise in iGaming revenue, although online sports revenue remained stable.

The adjusted EBITDA stood at $74 million, showcasing the company’s commitment to disciplined player acquisition and strong customer engagement metrics, despite facing lower contributions and decreased retail revenue. For the first half of the year, net revenue climbed 4% to $1.4 billion, accompanied by an adjusted EBITDA of $99 million, indicating robust cash generation.

However, this has led management to provide guidance for full-year revenue and EBITDA on the lower end of their previous forecasts. BetMGM continues to hold a commendable position in the market, capturing a 13% share of gross gaming revenue in active regions.

The company remains focused on enhancing its iGaming offerings, leveraging its omnichannel presence in Nevada, and catering to higher-value customers. Additionally, the expected timeline for achieving the ambitious $500 million adjusted EBITDA goal has been pushed beyond 2027, influenced by regulatory complexities and increased competition in the sector.

Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “BetMGM has started 2026 well and continues to execute with discipline. Our underlying player fundamentals remain healthy, and we are generating positive cash flow and Adjusted EBITDA, enabling us to continue to invest in our highest return opportunities.

While our industry faces regulatory complexity and an increasingly competitive environment, we remain agile and committed to our strategy that is delivering sustainable and profitable growth. Looking ahead, we will continue to prioritize our areas of strength, in particular leveraging our market leading iGaming offering across multi-product states, our omnichannel advantage in Nevada, and serving our higher-value customers. These strengths, combined with our disciplined strategic execution, underpin our confidence in the long-term outlook of our business.”