BetMGM LLC, the joint venture between MGM Resorts International and Entain plc, reported a strong start to 2025, achieving positive EBITDA of $22 million in the first quarter. This represents a $154 million improvement year-over-year, affirming its revised strategic plan.
The company's iGaming net revenue grew 27% to $443 million, while online sports net revenue increased 68% to $194 million. BetMGM's total net revenue for Q1 2025 was $657 million, a 34% increase from the prior year.
Adam Greenblatt, CEO of BetMGM, stated that the momentum built in the second half of 2024 continued into the first quarter, driven by a powerful iGaming strategy and improved online sports performance. BetMGM remains confident in achieving full-year positive EBITDA in 2025, supported by solid underlying activity trends.
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