Leading U.S. sportsbook BetMGM is anticipating 2025 Full Year revenue of US$2.7 billion (£2.02bn), with EBITDA of over US$150 million (£112.35m), the Entain-MGM Resorts International joint-venture reported in a Q2/H1 Trading Update today.
In nothing short of a spectacular lift-off, BetMGM has marked significant growth across all verticals — except minority retail in the second quarter.
FY EBITDA now lies in the land of the super positive after the loss of US$244 million (-£182.75m) last year.
Reporting for Q2, revenue of the Vegas-headquartered sportsbook–now holding a 22 percent share of the national U.S. iGaming market and eight percent slice of online sports betting–was up by 36 percent, hitting US$692 million (£518.26m); iGaming was up 29 percent to US$449 (£336.33m) and sports betting surged 56 percent to US$228 million (£170.79m).
Momentum
“The momentum we have built since the second half of 2024 accelerated through the first half of 2025,” affirmed BetMGM CEO Adam Greenblatt in the Trading Update.
“Our stronger than expected performance through H1 2025 positions us well for the rest of the year.
“[And] it reinforces our confidence in the future and the many opportunities ahead.”
BetMGM’s average number of monthly active players was also up by seven percent during the second quarter, ending June 30.
Delivery
EBITDA in Q2 was US$86 million (£64.42m), compared to only US$8 million (£5.99m) in the same period in 2024.
Total revenue for the first six-months of this year was US$1.35 billion (£1.01bn), up 35 percent, year-over-year. Revenue from iGaming during the half was US$891 million (£667.79m), up 28 percent, and sports wagering, in a 61 percent increase, reached US$422 million (£316.32m).
Added Greenblatt: “As we showed why BetMGM is the go-to destination for all players, our iGaming business continues to deliver new records.
“In online sports, our refined player targeting and management capabilities have driven strong engagement and player KPIs across the board.
“BetMGM is healthier than it has ever been, a testament to the hard work of our teams and colleagues across the business.”
