BetMGM has reported iGaming revenue growth in its Q1 2026 business update, with overall performance reflecting continued expansion across North American regulated markets, the company reported in a Trading Update today.
The iGaming operator, jointly owned by MGM Resorts International and Entain plc, recorded total net revenue of US$696 million (£513.49m) for the three months ending 31 March 2026, representing a six percent, year-on-year, increase.
Within this, BetMGM’s iGaming net revenue rose nine percent to US$481 million (£354.85m), while online sports betting revenue increased four percent to US$203 million (£149.74m).
Standouts
BetMGM’s Adjusted EBITDA for the quarter reached US$25 million (£18.44m) up 11 percent, y-o-y; with both iGaming and sportsbook standouts.
Average monthly active users, however, declined compared to the same quartile of 2025, which the operator claimed was the result of “a more selective approach to customer acquisition and ongoing player management strategies”.
Looking ahead, BetMGM revised its full-year 2026 iGaming revenue guidance to between US$2.9 billion to US$3.1 billion (£2.13bn-£2.28bn) — down from previous expectations.
Reiterating its long-stated goal to hit Adjusted EBITDA of US$500 million by 2027, BetMGM maintained its Adjusted EBITDA outlook for this year as US$300 million to US$350 million (£221.29m-£258.19m), albeit towards the lower end of the range.
Leader
The updated guidance reflects moderated growth expectations alongside continued investment in key iGaming markets and product development initiatives, said the third-placed U.S. market leader.
“[It’s] been a steady start to the year, [we are] delivering on our strategic plan, carrying forward the initiatives that drove our transformation in 2025,” affirmed BetMGM CEO Adam Greenblatt.
“We are generating sustainable, profitable growth and paying cash to our parent companies.
Confidence
“Our iGaming business is growing at scale, and our Online Sports business continues to strengthen despite a challenging market in Q1.
“As we look to the rest of the year, we will continue to focus on our areas of strength, particularly in iGaming, multi‑product states, omnichannel in Nevada, and servicing our premium mass sports players.
“These give us confidence that we will deliver on our updated 2026 guidance as well as continue on the path to $500 million of Adjusted EBITDA in 2027.”
