LONDON (dpa-AFX) - BetMGM LLC, a sports betting and iGaming operator in North America, jointly owned by MGM Resorts International (MGM) and Entain PLC (ENT.L, GMVHY) on Tuesday reported a surge in adjusted EBITDA and a rise in revenue for the third quarter of fiscal 2026.
For the third quarter, the company posted adjusted EBITDA of $86 million, higher than $41 million in the same period last year. Total net revenue was $710 million, up from $667 million in the previous year. Revenue from the company's iGaming business moved up to $483 million from $454 million a year.
Looking ahead, for fiscal 2026, BetMGM expects adjusted EBITDA of $300 million to $350 million with net revenue of $2.9 billion to $3.1 billion. BetMGM projects adjusted EBITDA of $500 million in the coming years.
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