THE BetMGM announced this Tuesday (14), the financial results of the first quarter of 2026, reporting net revenue of US$696 million, growth of 6% compared to the same period of the previous year.
The company, which is a joint venture between MGM Resorts International and Entain plc, focuses its reported financial operations primarily on the North American market, with a strong presence in the United States.
The performance was mainly driven by the growth of iGaming, which advanced 9% year-on-year, reaching US$481 million in revenue. The online sports betting segment recorded an increase of 4%, totaling US$203 million, impacted by favorable sporting results for players and greater market competitiveness.
The company’s adjusted EBITDA reached US$25 million in the quarter, an increase of 11% compared to the previous year. Despite the growth, the average monthly number of active users fell 9%, reflecting a more careful customer acquisition and management strategy, according to the company.
According to BetMGM CEO, Adam Greenblatt, the start of the year was stable, but aligned with the sustainable growth strategy implemented by the company.
“The start of the year was stable, but we continued to execute our strategic plan and drive sustainable and profitable growth. Our iGaming business continues to gain scale, while the online sports segment strengthens, even in a competitive environment”, said the executive.
iGaming leads growth
BetMGM highlighted that iGaming continues to be the main driver of growth, with a 12% increase in NGR per active user. The company also invested in new exclusive content, including titles from its partnership with Games Global, as well as releases based on popular franchises, such as the Survivor series.
In the sports betting segment, the company adopted a strategy focused on premium players, resulting in a 23% increase in transaction volume per active user and 11% growth in betting volume in the state of Nevada.
Market share
BetMGM maintained its position among the top operators in North America, with a 13% market share in GGR in active markets. In detail, the company registered 20% in iGaming and 7% in online sports betting.
Projections for 2026
For fiscal 2026, BetMGM has updated its expectations and now forecasts net revenue of between $2.9 billion and $3.1 billion, slightly below the previous estimate. The company maintained its adjusted EBITDA projection between US$300 million and US$350 million, although closer to the lower end of the range.
Among the main growth vectors, the company highlighted the expansion of iGaming, operations in multiple states, strengthening the operation in Nevada, activations related to the World Cup and launching products in new markets, such as Alberta.
The company also reiterated its goal of reaching US$500 million in adjusted EBITDA by 2027, maintaining its focus on sustainable growth and operational efficiency.
Fonte: Gaming365 – Brasil
