BetMGM posts 7% revenue gain in Q3, reiterates full-year guidance

BetMGM LLC reported third-quarter 2026 net revenue of $710 million, a 7% increase year-over-year, according to a press release issued Oct. 13, 2026. The sports betting and iGaming operator is jointly owned by MGM Resorts International (NYSE: MGM) and Entain plc (LSE: ENT).

iGaming net revenue rose 6% year-over-year to $483 million, while online sports net revenue grew 7% to $216 million. Adjusted EBITDA for the quarter reached $86 million, up 112% from $41 million in the same period a year earlier. For the first nine months of 2026, total net revenue was $2.116 billion, up 5% year-over-year, with adjusted EBITDA of $185 million, a 24% increase.

Average monthly active users declined 3% year-over-year to 878,000 in Q3. The company distributed $68 million in total cash to parent companies during the quarter, comprising $18 million in parent fees and $50 million in cash distributions to Entain and MGM Resorts.

BetMGM reported a 14% gross gaming revenue market share across active markets, including 20% in iGaming and 8% in online sports betting. The company completed a multi-product launch in Alberta, Canada, with per-player metrics described as trending above its Ontario launch levels.

CEO Adam Greenblatt said the company's "underlying player fundamentals remain strong" and that BetMGM is "generating positive cash flow and Adjusted EBITDA."

BetMGM reiterated its full-year 2026 guidance, stating it expects to deliver toward the lower end of its net revenue range of $2.9 billion to $3.1 billion and adjusted EBITDA range of $300 million to $350 million. The company also reaffirmed a longer-term target of $500 million in adjusted EBITDA. These figures are non-GAAP measures and have not been audited.

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