Entain plc (LON:ENT), the global sports betting and gaming group, has provided an update to FY 2025 guidance for BetMGM LLC, one of the leading sports betting and iGaming operators across North America, jointly owned by Entain plc and MGM Resorts International (NYSE:MGM).
· BetMGM’s positive momentum seen during 1Q 2025 has continued for the period 2Q 2025 to 13 June 2025, with strong Net Revenue growth across both iGaming and Online Sports, driven by handle1 growth
o Trading for the period is broadly consistent with +34% YoY Net Revenue growth delivered in 1Q 2025
· This continued strength provides BetMGM increased confidence in its performance for 2025 and as a result BetMGM upgrades its guidance for FY 2025:
o FY 2025 Net Revenue is now expected to be at least $2.6 billion (up from the previous guidance range of $2.4bn to $2.5bn2,3)
o FY 2025 EBITDA is now expected to be at least $100 million (up from the previous guidance to be EBITDA positive2,3)
o Reiteration of the expectation that Online Sports will be contribution2 positive for FY 2025, in addition to strong contribution2 from iGaming
· 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 $500 million EBITDA in the coming years.
BetMGM looks forward to providing further details on 2Q 2025 performance and guidance at its H1 update on Tuesday 29th July 2025.
Notes:
1. Handle is defined as the total Online Sports handle (cash + bonus bets).
2. Guidance provided at BetMGM’s FY24 update (4 February 2025).
3. Net Revenue, EBITDA, and Contribution are based on how management analyzes the performance of the business, which are not prepared in accordance with GAAP. Refer to “Non-GAAP Financial Information” section below for additional detail.
