16th Jun 2025 08:02
(Alliance News) - Entain PLC's US joint-venture has had a strong second-quarter so far, it said on Monday, with earnings for the full-year now expected to be stronger than previously forecast.
BetMGM is expected to achieve earnings before interest, tax, depreciation, and amortisation of at least USD100 million in 2025, the Ladbrokes owner said. Net revenue of at least USD2.6 billion is now expected.
The gambling firm noted the previous guidance was for BetMGM to be "Ebitda positive" this year, and for it to achieve revenue between USD2.4 billion and USD2.5 billion.
Entain, which owns 50% of BetMGM, said the sports betting and iGaming operator's "positive momentum" seen in the first-quarter has continued so far in the second.
Trading in the second-quarter up to Friday is "broadly consistent" with the first-quarter's 34% on-year net revenue hike.
"This continued strength provides BetMGM increased confidence in its performance for 2025," Entain added.
Entain's one-time suitor MGM Resorts International owns the other 50% of BetMGM.
"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 USD500 million Ebitda in the coming years," Entain added.
BetMGM will release a first-half update on July 29.
By Eric Cunha, Alliance News news editor
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