BetMGM has reported Q2 net revenue of $692m, representing a 36% year-on-year (YoY) increase for the Entain and MGM Resorts International joint venture (JV).
The North America-facing business also reported EBITDA soared from $8m in Q2 2024 to $86m in the latest reporting period. Average monthly actives increased 7% YoY to 901,000.
The operator said the gains were down to its “ongoing strategic execution” driving “strong and profitable growth”.
In early morning trading, Entain’s shares in London are up nearly 2% to 1,010p – the first time the stock has eclipsed the £10 mark for almost two years.
By vertical, igaming continues to represent the lion’s share of BetMGM revenue, rising 29% YoY to $449m.
Management said its investment in the division had allowed it to “acquire and retain a broader pool of players at attractive payback periods”.
The Jersey City-based operator reported that during H1, average monthly actives in igaming increased 38% YoY, while active player days each month rose 34%.
Player engagement tools, investment in live casino, exclusive content and the cross-sell of sports customers into online casino were also cited as core drivers for the business.
BetMGM noted its igaming market share across the five states the brand is live is now 22%.
In online sports betting, where the JV’s market share is 8%, Q2 revenue was up 56% to $228m.
The firm said it had focused on a more premium player cohort as part of a brand repositing, which in turn boosted the P&L.
Additionally, there was a strengthening of the product, including a “broader offering and parlay capabilities, plus enhanced UX navigation and app speed”.
This included Angstrom Sports-powered markets, with Entain having snapped up the odds and data specialists in 2023 in a deal worth £203m.
In turn, H1 handle per active customer was up 34% while net gaming revenue rose 70% YoY.
H1 active player days increased 14% and there were 24% more bets per active customer in the first six months of the year, BetMGM added.
Meanwhile, Q2 GGR hold for online sports betting was 9.8%, up 40 basis points YoY, while total online sports betting handle amounted to $3.4bn – up 25% on the same period last year.
Revenue increased 35% in H1 to $1.3bn, with igaming revenue alone rising 28% to $891m. Sports revenue in the first six months of the year was up 61% to $422m.
The JV has also upgraded its full-year 2025 guidance, with net revenue expected to reach more than $2.7bn and EBITDA to hit at least $150m.
The operator is maintaining its $500m EBITDA target for the “coming years”.
Adam Greenblatt, BetMGM CEO, said: “The momentum we have built since the second half of 2024 accelerated through the first half of 2025.
“Our igaming business continues to deliver new records as we showed why BetMGM is the go-to destination for all players, and 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. Our stronger than expected performance through H1 2025 positions us well for the rest of the year, reinforcing our confidence in the future and the many opportunities ahead.”
The post BetMGM “healthier than it has ever been” as Q2 revenue leaps 36% first appeared on EGR Intel.
North America-facing JV puts its igaming market share at 22%, while strong H1 performance leads to an increase in full-year 2025 guidance
The post BetMGM “healthier than it has ever been” as Q2 revenue leaps 36% first appeared on EGR Intel.