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Entain raises BetMGM guidance for sales, profits
(Sharecast News) - Gambling and sports betting group Entain has upgraded its guidance for BetMGM following a strong first half from the US division. The company, which owns a 50% share of BetMGM with MGM Resorts, said net revenue growth in the second quarter so far was consistent with the 34% year-on-year surge seen in the first three months of the year.
"BetMGM's positive momentum seen during 1Q 2025 has continued [...] with strong net revenue growth across both iGaming and Online Sports, driven by handle growth," the company said.
As a result, BetMGM revenues are now expected to be "at least $2.6bn", up from the previous $2.4bn-2.5bn range.
BetMGM accounted for around two fifth's of Entain's revenues in 2024, growing the top line by 11% on a constant currency basis to $2.1bn.
Meanwhile, BetMGM EBITDA is forecast to be "at least $100m", compared with previous guidance of above breakeven.
"BetMGM remains excited about the significant opportunities ahead. Its strengthened business, revised strategic approach, and performance momentum, further reinforce its confidence in future growth prospects and pathway to $500 million EBITDA in the coming years," Entain said in a statement.
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