BetMGM Reports Q2 Revenue Growth, Maintains Guidance Amid Competitive Pressures
BetMGM reported a 3% year-over-year revenue increase to $711 million in the second quarter of 2026. The growth was driven by an 8% rise in iGaming revenue, which offset flat online sports betting and weak retail performance. Adjusted EBITDA for Q2 stood at $74 million with a first-half total of $99 million. Despite maintaining its full-year guidance—revenue between $2.9 billion to $3.1 billion and adjusted EBITDA from $300 million to $350 million—the company now expects results near the lower end due to heightened competition, prediction markets, and consumer spending pressures. CEO Adam Greenblatt emphasized a strategy of profitable growth by focusing marketing in multi-product states where cross-selling between sports betting and iGaming is more effective. BetMGM plans for strong second-half profit flow-through and aims to exceed $500 million in adjusted EBITDA from its current footprint, likely after 2027. The company cited exclusive game releases and improved player engagement as key drivers of growth in the iGaming segment.
Tickers: $MGM
Topics: EBITDA guidance iGaming revenue growth sports betting