BetMGM says it’s raising its full-year profit forecast and plans to give at least $200 million back to its joint owners, Entain and MGM Resorts International, after posting stronger-than-expected results for the third quarter of 2025.
The company, which operates sports betting and online gaming platforms across North America, said in a press release that it brought in $667 million in net revenue for the quarter, a 23% increase from the same time last year.
Its iGaming revenue grew 21% year over year, and online sports revenue rose 36%. BetMGM also reported third-quarter EBITDA of $41 million, which is $57 million higher than last year.
“BetMGM’s momentum from H1 continued into Q3, underpinned by the ongoing execution of our strategic plan,” said Chief Executive Officer Adam Greenblatt. “The execution in operations we have described this year – improved marketing efficiency, player management, brand positioning, and product and platform improvements – all contributed to our strong revenue growth and material cash flow increase from both sides of the business.”
Greenblatt added that “strong underlying metrics and margin outperformance during July and August support our confidence in raising guidance for full year 2025.” He also pointed out that the company has “reached yet another inflection point in our journey, returning operating cash flow back to Entain and MGM Resorts.”
BetMGM Q3 2025 profit rises on online sports gain
For the first nine months of 2025, BetMGM reported year-to-date net revenue of $2.016 billion and EBITDA of $150 million. The company said it holds a 15% share of gross gaming revenue across active markets, including 21% in iGaming and 8% in online sports betting.
BetMGM has raised its full-year 2025 outlook to at least $2.75 billion in net revenue and about $200 million in EBITDA. It also reaffirmed its goal of generating more than $500 million in contribution, with positive results expected from online sports, like that of its first quarter.
The company plans to distribute extra cash to its parent companies each quarter while keeping at least $100 million in unrestricted cash on hand. By the end of 2025, BetMGM expects to have around $100 million in unrestricted cash after these distributions.
On the operations side, BetMGM highlighted recent product upgrades and the success of its “Make it Legendary” marketing campaign, which launched before the football season and features actor Jon Hamm. The company reported growth in player acquisition and retention, especially in iGaming, where the average number of monthly active users rose 21% from last year.
Never miss a photo finish
Make every play legendary this football season pic.twitter.com/jLDC4gwHC5
— BetMGM
(@BetMGM) August 29, 2025
Better player engagement and app improvements, such as live same-game parlay options and a refreshed design, also helped boost activity. The company said handle per active customer climbed 23%, while net gaming revenue per active customer jumped 49% compared with a year ago.
BetMGM also said it has more than $250 million in liquidity, made up of $100 million in unrestricted cash and an unused $150 million revolving credit facility.
“BetMGM is healthier than it has ever been,” Greenblatt said. “Our stronger than expected performance through Q3 positions us well for the rest of the year and into 2026.”
Featured image: BetMGM
The post BetMGM raises profit outlook as it plans $200M shareholder payout appeared first on ReadWrite.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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