BetMGM Q3 revenue rises, maintains annual outlook

By Reuters News

Oct 13 (Reuters) - US online gambling operator BetMGM on Tuesday reported a 7% rise in third-quarter revenue, driven by strong betting during the World Cup and a revamped sportsbook ahead of the NFL season.

  • Shares of Ladbrokes-owner Entain ENT.L rose 4% after the update from BetMGM, a joint venture between Entain and US-based MGM Resorts MGM.N

  • BetMGM reiterated its 2026 guidance, expecting net revenue toward the lower end of its $2.9 billion to $3.1 billion range and adjusted EBITDA toward the lower end of its $300 million to $350 million range

  • The company reported net revenue of $710 million for the three months ended September 30, up from $667 million a year earlier.

  • BetMGM said it was confident in reaching $500 million in adjusted EBITDA in the coming years

  • Licensed US sportsbook operators face growing pressure from prediction market platforms such as Kalshi, and BetMGM rivals FanDuel, DraftKings and Fanatics have launched similar prediction market products


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