BetMGM, a, has released its half-yearly figures for 2025 which show $1.35 billion in net revenue for H1 2025, a year-on-year increase of 35 per cent.
The joint venture between MGM Resorts International and Entain Holdings has seen its strategic drive into the sports betting market rewarded with $422 million in revenue for that vertical, a 61 per cent growth compared with the first half of last year.
The US sports betting and online gaming specialists also reported iGaming remained the central pillar of the company’s growth, with net revenue increasing to $891 million, a rise of 28 per cent year-on-year.
BetMGM CEO Adam Greenblatt said: “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’s H1 2025 Figures In Focus
Overall, BetMGM’s first-half net revenue of $1.35 billion has created a sizeable turnaround in EBITDA (earnings before interest, taxes, depreciation, and amortisation) which stands at $109 million, a $232 million increase on H1 2024’s $123m loss.
Exclusive games such as The Wizard Of Oz, Price Is Right and Family Feud were highlighted as engagement drivers among its portfolio, together with the development of its live dealer offerings in its online casino.
Average monthly player growth was up 6 per cent for the half year with 984,000 players, while the quarterly figures available at the same time showed a 7% rise for Q2 with 901,000 players.
The only small downturn was in Retail and other revenue sources, which contributed $36 million in H1, down from $42m from the previous year.
New Fiscal Year Forecast For 2025
Based on the robust H1 figures, BetMGM has revised its fiscal year 2025 guidance, and is now expecting net revenue of at least $2.7 billion, up 12.5% from the original projection of $2.4 billion.
The forecast for EBITDA has also been upgraded to “no less than $150m”, a significant increase on the original figure of $100 million.
“BetMGM has seen a strong first half of the year, delivering significant revenue and EBITDA growth that is underpinned by the ongoing execution of our strategic plan,” said Greenblatt.
“The momentum we have built since the second half of 2024 accelerated through the first half of 2025.
“Our stronger than expected performance through H1 2025 positions us well for the rest of the year.
“It reinforces our confidence in the future and the many opportunities ahead.”
Jim Munro is a betting industry and gambling expert who has been a national newspaper journalist for over 30 years, predominantly at The Sunday Times and The Sun, where he wrote a weekly soccer betting column. Jim also worked on the launch of Virgin Bet with Gamesys and was subsequently head of editorial at LiveScore, the sports media and betting group.
