BetMGM, the US online sports betting and casino joint venture owned by MGM Resorts and Entain, reported higher revenue and a sharp improvement in profit for the third quarter of 2026. In an update published on October 13, the company said net revenue rose about 6% to $710 million, from $667 million in the same quarter last year. Adjusted EBITDA more than doubled to $86 million, up from $41 million.
Where the growth came from
iGaming, which covers online casino and slots in the states where they are legal, remains BetMGM’s largest business. According to the company’s figures, iGaming net revenue was $483 million, up about 6%, while online sports net revenue was $216 million, up about 7%.
The company credited new content and product improvements for keeping players engaged. Alliance News reported that BetMGM highlighted upgrades to the speed and stability of its sportsbook ahead of the NFL season. Average monthly active users were slightly lower than a year earlier, which the company said it had expected.
Guidance held at the lower end
BetMGM kept its full-year 2026 targets of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in adjusted EBITDA, but said it is tracking toward the lower end of both ranges. For comparison, it reported 2025 net revenue of $2.80 billion and EBITDA of $220 million. Its longer-term target of $500 million a year in adjusted EBITDA was left unchanged.
Chief executive Adam Greenblatt said BetMGM had delivered “a strong Q3” while focusing on profitable growth.
Context
The update arrived during a busy period for the US market. Rival DraftKings is due to report its third-quarter results on November 5, and Flutter, which owns FanDuel, typically reports in November. Across the industry, operators have been balancing customer acquisition spending against profitability, while also responding to competition from prediction markets that offer sports event contracts in states where traditional sportsbooks are licensed and taxed.
Entain shares rose about 4% in London on the day of the update, according to Alliance News. Entain released its own third-quarter trading statement on October 15.
What it means for players
A focus on profitability rather than pure growth usually means sportsbooks are more selective about how much they spend on promotions. Bettors may see fewer large sign-up offers and more targeted, smaller rewards over time. It pays to read the terms on any bonus, including playthrough requirements and expiry dates. Our guide to free bets explains how common offer types work.
BetMGM is licensed state by state, and its sportsbook and casino are only available in states where it holds a license and where those products are legal. If you are unsure whether online casino is legal where you live, check your state regulator’s list of authorized operators before you sign up. For tools such as deposit limits and time-outs, see our responsible gambling page.
Sources
- BetMGM Q3 2026 Update (Entain plc via Investegate (RNS))
- Entain shares rise as BetMGM JV backs guidance after strong quarter (AJ Bell (Alliance News))
Written in our own words from the sources above. Spotted an error? Tell us and we will correct it and log it on our corrections page.
About the author
The BettingSeeker News Desk covers regulation, operator news and safer gambling developments in the UK, the US and Canada. Every story is based on primary sources such as regulator announcements, government publications and company filings, or on reporting by established news outlets, and every source is linked at the end of the article.
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