BetMGM Reports Strong Q3 2025 Results with Significant Revenue Growth
Robust Revenue Growth in Q3
BetMGM, a leading operator in sports betting and online gaming, released its Q3 2025 financial results, announcing a remarkable increase in revenue that surpassed expectations. The company’s net revenue for the quarter rose by 23% compared to the previous year, reaching $667 million. This strong performance stems from positive momentum across both its betting and iGaming segments.
BetMGM’s earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to $41 million in Q3, a dramatic turnaround from a $16 million loss in the same period last year. Year-to-date, the company’s EBITDA totaled $150 million.
The iGaming segment contributed $454 million in net revenue, marking a 21% increase year-over-year, while sports betting revenue climbed 36% to $202 million, driven by enhanced product offerings and improved player engagement strategies.
Additionally, monthly active users on the BetMGM platform grew by 6% year-over-year, reflecting the effectiveness of targeted player management. BetMGM continues to hold a strong market presence, accounting for 15% of gross gaming revenue (GGR) in its active regions.
In light of these favorable results, BetMGM has raised its full-year 2025 projections, now anticipating $2.75 billion in net revenue and an EBITDA of $200 million. The company also aims to finish the year with approximately $100 million in unrestricted cash, even after distributing $200 million to its parent companies.
Operational Excellence and Product Innovation
Throughout Q3, BetMGM advanced several key initiatives, including product enhancements and marketing efforts. Notably, the “Make it Legendary” campaign, featuring acclaimed actor Jon Hamm alongside other ambassadors, played a significant role in promoting the brand.
The company continued to excel in the iGaming space by delivering premium player experiences and expanding its digital portfolio. New offerings included omnichannel games based on the Wizard of Oz franchise and Rakin’ Bacon, as well as branded casino titles connected to The Price Is Right and NFL teams, timed to coincide with the football season kickoff.
On the sportsbook front, BetMGM introduced visual improvements, additional statistical information, an upgraded rewards dashboard, and a range of new features designed to enhance user engagement.
A Pivotal Moment for BetMGM
CEO Adam Greenblatt highlighted the company’s sustained momentum from the first half of the year, crediting improved operational efficiencies, strong brand positioning, enhanced player management, and a robust platform for the positive outcomes in Q3.
Greenblatt emphasized that this strong performance has boosted confidence in achieving full-year targets and marked a pivotal moment for BetMGM, as it prepares to return operating cash flow to its parent firms, MGM Resorts and Entain.
He concluded by stating that BetMGM is in its healthiest position to date, with the impressive third-quarter results setting a confident tone for the remainder of 2025 and the year ahead in 2026.
