Entain has published upgraded full-year (FY) 2025 guidance for BetMGM, with bosses optimistic the US and Ontario-facing JV with MGM Resorts International will exceed initial forecasts.
Management now expected that BetMGM’s FY 2025 net revenue will reach $2.6bn (£1.9bn) – an uptick from previously issued guidance that estimated the metric to sit between $2.4bn and $2.5bn.
Additionally, adjusted EBITDA is now anticipated to total $100m, as per Entain’s update.
The update has sent Entain’s shares spiking by more than 11% in early morning trading to 836p. The firm’s stock is up almost 24% over the past 12 months.
Previously, bosses had pegged 2025 adjusted EBITDA to be merely positive, after 2024 was characterised as an “investment year”.
The first quarter of 2025 marked an initial positive adjusted EBITDA return after 12 months of further spending, with Entain now expecting those gains to continue to manifest throughout H2.
The operator’s announcement highlighted that the positive momentum shown in Q1 has continued in Q2 2025, with notable growth reported across both online sports betting and igaming.
Trading for the second quarter has been, up to and including 13 June, “broadly consistent” with the 34% year-on-year (YoY) net revenue growth reported in Q1.
Entain said: “BetMGM remains excited about the significant opportunities ahead. Its strengthened business revised strategic approach and performance momentum, further reinforce its confidence in future growth prospects and pathway to $500m EBITDA in the coming years.”
The update comes just over a month after BetMGM’s strong Q1 display was published, with the operator reporting $657m in revenue, alongside adjusted EBITDA of $22m.
It marked a $154m positive swing after posting an EBITDA loss of $132m in Q1 2024.
While its igaming arm contributed the lion’s share of the topline figure with $443m in revenue, it was BetMGM’s online sports betting division that reported the most notable growth, climbing 68% YoY to sit at $194m.
In turn, Entain’s update adds that the recently issued guidance reiterates the expectation that BetMGM’s online sportsbook will return a positive contribution over the course of FY 2025.
Entain is due to report its full H1 performance on 29 July.
The post Entain upgrades BetMGM 2025 guidance as JV expected to surpass $2.5bn revenue first appeared on EGR Intel.
Operator’s shares soar as net revenue predicted to hit $2.6bn in full-year 2025, while 2026 $500m adjusted EBITDA target is still on track
The post Entain upgrades BetMGM 2025 guidance as JV expected to surpass $2.5bn revenue first appeared on EGR Intel.