BetMGM reported net revenue of $711m and adjusted EBITDA of $74m for the second quarter of 2026. Casino drove the gain — iGaming revenue rose 8% to $483m, while sportsbook revenue held flat at $228m.
The Entain and MGM Resorts joint venture continues to generate positive cash flow. Revenue climbed 3% year-on-year. Sports betting handle increased 2% to $3.49bn, with hold rising from 9.8% to 10.3%. First-half revenue came to $1.41bn, up 4%.
The operator revised guidance, saying full-year revenue and EBITDA will land at the lower end of the previously announced range. Reuters reports management has pushed back the long-term target of $500m EBITDA due to intensifying competition, including from prediction platforms.
CEO Adam Greenblatt said the company maintains investment discipline and is focused on projects with the highest returns. BetMGM intends to use its iGaming lead in multi-product states, omnichannel advantage in Nevada and high-margin customer base to grow profit.
