Operator continues on path to $500m of Adjusted EBITDA in 2027
With net revenue of $696m up six per cent, BetMGM said its strong performance in the first quarter of the year reflects the continued successful execution of its refined player management strategy alongside softer onlinesports growth, including player-friendly sports results.
iGaming net revenue was up nine per cent with online sports revenue up four per cent. The company said it expects full-year earnings of between $300 to $350m, albeit towards the lower end of the range, while net revenue is now expected to be between $2.9 to $3.1bn
Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “Although it has been a steady start to the year, BetMGM is delivering on our strategic plan, carrying forward the initiatives that drove our transformation in 2025. We are generating sustainable, profitable growth and paying cash to our parent companies. 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 $500m of Adjusted EBITDA in 2027.”
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Operator continues on path to $500m of Adjusted EBITDA in 2027 With net revenue of $696m up six per cent, BetMGM said its strong performance in the first quarter of the year reflects the continued successful execution of its refined player management strategy alongside softer onlinesports growth, including player-friendly sports results. iGaming net revenue was…
The post BetMGM up six per cent in first quarter of 2026 appeared first on G3 Newswire.