BetMGM CEO Adam Greenblatt has said the upcoming introduction of legal online casinos in Maine will not move the needle for the operator and that further state launches are key to driving growth.
Speaking on BetMGM’s Q4 earnings call on Wednesday, 4 February, Greenblatt was asked what the main levers were for the joint venture to hit or surpass its full-year 2026 forecast.
The Entain- and MGM Resorts International-owned brand expects to generate revenue of between $3.1bn and $3.2bn this year.
Greenblatt said: “The thing that moves the dial for BetMGM, given how we over-index in gaming, is more igaming states. That’s the mic drop moment.
“Expanding our igaming TAM; that’s the thing that fundamentally changes our outlook.”
Maine is set to become the eighth US state to offer online casino, albeit via the four federally recognised tribes in the jurisdiction partnering with commercial operators.
Slots, table games and poker will be permitted, while operators will pay a tax rate of 18% on revenue.
Currently, only DraftKings and Caesars are live in the Pine Tree State as sports betting operators.
Governor Janet Mills allowed online casino bill LD 1164 to become law without her signature earlier this month, yet she faces pushback from various groups, including those calling for a ‘people’s veto’ to overturn the law through a statewide referendum.
Greenblatt added: “We’re positive about the potential to see some movement in Virginia.
“In Maine, regardless of the veto plays out, that’s not going to move the dial for us one way or the other, frankly. It’s Virginia and new igaming states that are the primary upsides.”
In Virginia, which rolled out sports betting in 2021, HB 161 was approved in the House subcommittee this week by a narrow 5-4 vote. It is now heading to the to the House Appropriations Committee.
For comparison, Virginia boasts a population of almost nine million, while the inhabitants of Maine total around 1.4 million.
Greenblatt went on to touch on the cross-sell opportunities from online sports betting to igaming, including offering more sports-themed casino games for players.
During the analyst call, bosses revealed that over the course of the NFL season, around 60% of sports bettors also engaged with igaming.
Online casino revenue for BetMGM rose 24% to $1.8bn for full-year 2025, alongside a 24% jump in average monthly actives.
Greenblatt added: “We’re doing a lot of work to encourage cross-sell. Smoother integrations, more interesting calls to action.
“We’re certainly not sitting on 60% and accepting that being the threshold. Whether it can get to 65% or 70% remains to be seen, but I don’t imagine it could get significantly more than that, but I’d love to be wrong.”
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Adam Greenblatt says he is more positive on the igaming bill in Virginia making its way through the legislature, while expanding the TAM is paramount for JV’s financial targets
The post BetMGM CEO: Maine legalising online casino doesn’t move the needle first appeared on EGR Intel.