BetMGM on Monday raised its full-year 2025 revenue forecast to at least $2.6 billion after continued growth in online sports betting and iGaming.
The revised guidance, issued by Entain plc, reflects performance trends that remained consistent with the first quarter of the year.
A 34% increase in net revenue was reported for the period, as both online sports and iGaming contributed to it.
EBITDA for 2025 is now expected to reach at least $100 million. This marks an increase from the previous forecast, which projected a positive EBITDA figure without specifying a minimum.
The company also reiterated that online sports are projected to contribute positively to annual results, alongside iGaming.
The update follows guidance originally given on Feb. 4, which estimated full-year net revenue between $2.4 billion and $2.5 billion. The earlier projection for EBITDA was listed only as “positive.”
BetMGM said it plans to provide additional performance details for the second quarter in July.
The joint venture between Entain and MGM Resorts (NYSE:MGM) International operates in the U.S. under brands including BetMGM, Borgata Casino (EPA:CASP) and Party Casino.
