BetMGM, the US online gambling operator, reported a 7% increase in third-quarter revenue to $710 million for the period ending September 30, 2026. The company maintained its annual financial guidance for 2026.
What Happened
BetMGM announced a 7% rise in its third-quarter revenue, reaching $710 million for the three months concluding September 30, 2026. This figure represents an increase from $667 million recorded in the same period a year prior, according to The Star. The operator attributed this growth to strong betting activity during the World Cup and the launch of a revamped sportsbook ahead of the NFL season.
Following this update, shares of Entain, the co-owner of BetMGM with MGM Resorts, reportedly increased by 4%.
Key Details
- BetMGM’s third-quarter net revenue reached $710 million, an increase from $667 million in the previous year, as reported by The Star.
- The company reiterated its 2026 guidance, projecting net revenue toward the lower end of its $2.9 billion to $3.1 billion range, according to The Star.
- Adjusted EBITDA for 2026 is also expected to be at the lower end of its $300 million to $350 million range, The Star reported.
- BetMGM expressed confidence in achieving $500 million in adjusted EBITDA in the coming years.
- Licensed US sportsbook operators, including BetMGM, are reportedly facing increased competition from prediction market platforms such as Kalshi, with rivals like FanDuel, DraftKings, and Fanatics also launching similar products.
Why It Matters
The reported revenue increase and maintained financial outlook for BetMGM indicate sustained performance within the competitive US online gambling market. The company’s growth drivers, particularly major sporting events and product enhancements, demonstrate strategies for market engagement. The reiterated guidance provides clarity for investors and analysts regarding expected financial performance in the near term.
What’s Next
BetMGM aims to achieve $500 million in adjusted EBITDA in the coming years, as stated by the company. The ongoing landscape involves growing competition from prediction market platforms and established rivals, suggesting continued strategic adjustments will be relevant for market positioning.
Originally reported by The StarPublished
Sources & References
Primary source
- The Starthestar.com.my
Additional references
- BETMGM Q3 2026 BUSINESS UPDATE – Oct 13, 2026investors.mgmresorts.com
- BetMGM Q3 revenue rises, maintains annual outlook | KELO-AMkelo.com
- BETMGM Q3 2026 BUSINESS UPDATEfinviz.com