Online gambling operator BetMGM has announced an increase in its financial forecast for fiscal year 2025, benefiting from the continued growth of online sports betting and iGaming businesses. The company expects its annual net revenue to reach at least $2.6 billion, up from the previous estimate of $2.4 to $2.5 billion.
BetMGM is jointly owned by Entain and MGM Resorts. According to the latest guidance, the company has also raised its 2025 EBITDA expectations from the previous "break-even" to "over $100 million," demonstrating a strong profit transformation.
This adjustment is based on the strong performance in the first quarter of 2025. During this quarter, BetMGM achieved a 34% year-over-year increase in net revenue, a momentum that continued until mid-June, serving as a key driver for this forecast revision.
The company stated that the online sports betting business will achieve profitable contributions, while the iGaming sector is expected to continue to maintain high returns. Entain and MGM Resorts noted that the updated expectations reflect high confidence in BetMGM's strategic transformation and execution, and reiterated their long-term target of achieving an annualized EBITDA of $500 million.
It is worth noting that BetMGM plans to release mid-term results and more detailed forward-looking guidance on July 29, 2025.
In addition to financial growth, BetMGM has also been active in product and market expansion recently. At the beginning of 2025, the company partnered with UK supplier Push Gaming to launch several exclusive games in Michigan, marking Push Gaming's first entry into the US market outside of Ontario. These games include "MGM Grand Gamble" and "Bellagio Diamonds" among other MGM brand exclusive content.
Meanwhile, in May, BetMGM also partnered with Century Casinos to prepare for the launch of sports betting services in Missouri, planning to commence operations when the market opens in December.
Overall, this financial forecast increase not only reflects BetMGM's ongoing expansion capability in the regulated US market but also indicates that its strategy is evolving towards a more efficient and profitable direction.
