BetMGM LLC has released its Q2 and first-half 2026 performance update, revealing that full-year guidance will land towards the lower end of existing ranges.
The joint venture, owned by MGM Resorts International and Entain plc, reported iGaming Net Revenue of $483 million for Q2, representing an 8% year-on-year increase.
Online Sports Net Revenue came in at $228 million for the quarter, which was flat compared to the same period in the previous year.
Both Net Revenue and Adjusted EBITDA for the full year are now expected to track towards the lower end of the company’s previously communicated guidance ranges.
CEO Adam Greenblatt sought to strike a broadly positive tone in his accompanying statement, emphasising disciplined execution and healthy underlying player fundamentals across the business.
Greenblatt said: “BetMGM has started 2026 well and continues to execute with discipline,” pointing to positive cash flow generation as evidence of the company’s improving financial health.
The company acknowledged that it operates in an increasingly complex environment, with regulatory pressures and competitive intensity both cited as ongoing challenges for the business.
BetMGM also confirmed that its target of reaching $500 million in Adjusted EBITDA has been pushed beyond 2027, attributing the delay to prevailing market conditions.
The update was accompanied by a financial disclosure overhaul, with the company stating its intention to provide investors with more comprehensive and transparent information going forward.
An audio webcast held on July 28 included a 30-minute Q&A session for analysts and investors, giving stakeholders the opportunity to probe the company’s revised outlook and strategy directly.
BetMGM remains one of the leading sports betting and iGaming operators across North America, and the results will be closely watched by the wider industry as operators navigate tightening margins and evolving regulation.
The company reaffirmed its long-term commitment to sustainable and profitable growth, with Greenblatt indicating that the fundamentals supporting that strategy remain firmly intact despite near-term headwinds.
