BetMGM posts higher third-quarter revenue, keeps 2026 outlook unchanged
Online betting demand in the U.S. continues to support sportsbook operators as the autumn sports calendar lifts wagering activity. BetMGM reports a 7% rise in third-quarter revenue and maintains its full-year guidance at the lower end of its revenue and adjusted EBITDA ranges.
Highlights
- BetMGM reports third-quarter net revenue of $710 million, up from $667 million a year earlier, driven by World Cup betting and sportsbook upgrades.
- The company maintains its 2026 outlook, guiding for net revenue toward the lower end of $2.9 billion to $3.1 billion and adjusted EBITDA toward $300 million.
- Entain shares rise 4% after the update as BetMGM and competitors face increased competition from prediction market platforms and new product launches.
Third-quarter performance and 2026 targets
As reported by Reuters, BetMGM says stronger betting during the World Cup and a revamped sportsbook ahead of the NFL season help lift net revenue to $710 million in the three months ended September 30, from $667 million a year earlier.The online gambling operator reiterates its 2026 guidance, expecting net revenue toward the lower end of its $2.9 billion to $3.1 billion range and adjusted EBITDA toward the lower end of its $300 million to $350 million range. The company also says it remains confident in reaching $500 million in adjusted EBITDA in the coming years.
Sector pressure and market reaction
Shares in Entain, the owner of Ladbrokes and BetMGM's joint venture partner alongside MGM Resorts, rise 4% after the trading update.Licensed U.S. sportsbook operators are facing growing pressure from prediction market platforms such as Kalshi. BetMGM competitors FanDuel, DraftKings and Fanatics have also launched similar prediction market products, adding to competitive pressure across the online betting sector.
Our earlier coverage of Moody’s outlook on global economic trends highlighted a split backdrop in which some sectors remain resilient while others face pressure from regulatory shifts and rising geopolitical risks. We noted that companies need to adapt to changing conditions to stay competitive, even as emerging markets are projected to post slow but steady growth and investors keep a close eye on longer-term opportunities.
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