The BetMGM joint venture between Entain and MGM Resorts has raised its guidance for 2025 after seeing strong in the first 11 weeks of Q2.
BetMGM said that the strong momentum recorded in the first quarter of 2025 has continued into the second quarter of the year, with net revenue growth in both its iGaming and sports betting verticals.
Trading in the second quarter period up to 13 June has been broadly in line with the 34 per cent year-on-year net revenue growth in Q1, leading the company to raise its full year net revenue guidance to at least $2.6 billion.
This represents an increase of 4 per cent on the upper end of the previous guidance of between $2.4 billion and $2.5 billion.
The Entain-MGM Resorts joint venture also reiterated that online sports betting is expected to make a positive contribution in 2025, adding to the strong contribution from online gaming.
Full year EBITDA is now expected to exceed $100 million in 2025, compared to earlier guidance of becoming EBITDA positive.
“BetMGM remains excited about the significant opportunities ahead,” said Entain in an announcement Monday. “Its strengthened business, revised strategic approach, and performance momentum, further reinforce its confidence in future growth prospects and pathway to $500 million EBITDA in the coming years.”
BetMGM will provide an update on its second quarter financial performance on 29 July.
Shares in Entain plc. (LSE:ENT) were trading 7.80 per cent higher on the news at 810 pence per share in London early Monday morning. Shares in MGM Resorts International (NYSE:MGM) closed 4.25 per cent lower at $31.73 per share in New York Friday.