BetMGM, the sports‑betting arm of MGM Resorts International, began offering mobile and retail sports betting in Missouri on December 1, 2025. The launch opened a physical sportsbook at Century Casino & Hotel Cape Guitar and enabled the BetMGM app and website to accept wagers across the state.
Missouri’s sports‑betting market officially opened on the same day after voters approved Amendment 2 in November 2024. The amendment legalized sports betting statewide, allowing up to 14 online licenses; BetMGM was among the first operators to launch once the market went live.
The expansion marks BetMGM’s first combined online and in‑person presence in Missouri and is a key component of the company’s omnichannel strategy. By pairing a digital platform with a physical venue, BetMGM aims to capture a larger share of the Midwest market, strengthen customer engagement, and create new revenue opportunities for MGM Resorts.
Financially, BetMGM generated $2.1 billion in revenue in 2024, a 7% year‑over‑year increase, and reported net revenue of $1.35 billion in the first half of 2025, up 35% YoY. The company posted an EBITDA loss of $244 million in 2024, largely attributed to a “year of investment” in growth initiatives, but it forecasts a positive EBITDA in 2025. MGM Resorts reported $4.35 billion in revenue for Q4 2024, a 1% decline YoY, yet the results beat analyst estimates and reinforced confidence in the company’s profitability outlook.
Segment data shows BetMGM’s iGaming net revenue rose 13% to $1.48 billion in 2024, while online sports net revenue increased 4% to $554 million. MGM Resorts’ revenue is segmented across Las Vegas Strip, Regional Operations, MGM China, and MGM Digital, with the company holding a 14% gross‑gaming‑revenue share in its active states as of 2024.
Management comments underscore the strategic intent behind the launch. BetMGM CEO Adam Greenblatt described 2024 as a “year of investment and rebuilding momentum,” noting encouraging run rates across key metrics. MGM Resorts CEO Bill Hornbuckle highlighted strong demand and record convention bookings for 2025, expressing optimism that BetMGM will achieve profitability in the coming year.
While specific market reaction to the Missouri launch is not documented, the broader context of MGM Resorts’ Q4 2024 earnings—where the company beat revenue and earnings estimates—provided a positive backdrop for the announcement.
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