The betting and gaming operator remains on track to achieve its full-year financial guidance
BetMGM grew third quarter revenue by 7 per cent year-on-year to $710 million, with growth in both iGaming and sports betting.
iGaming revenue at BetMGM climbed by 6 per cent to $483.6 million in the third quarter of 2026, while online sportsbook revenue improved by 7 per cent to $216 million, and retail sports betting revenue by 5 per cent to $11 million.
The company achieve its revenue growth despite a 3 per cent fall in the average number of active players during the period to 878,000.
Within iGaming, net gaming revenue (NGR) per active player increased by 4 per cent year-on-year, with the company noting the strong performance of its new ‘Game of Thrones’ titles, which became BetMGM’s most successful game franchise launch to-date.
Sportsbook NGR per active player increased by 18 per cent in Q3 2026, on 13 per cent higher handle per active player, which the company attributed to sportsbook product enhancements and ongoing marketing efficiency.
The solid third quarter revenue growth helped to growth Adjusted EBITDA by 112 per cent to $86 million.
Q3 and 9M 2026 Results Comparison (US$’millions)
| Q3 2029 | Q3 2025 | 9M 2026 | 9M 2025 | |
| Net Revenue | ||||
| iGaming | 483 | 454 | 1,447 | 1,345 |
| Online Sports | 216 | 202 | 647 | 624 |
| Retail / Other | 11 | 11 | 23 | 46 |
| Total Net Revenue | 710 | 667 | 2,116 | 2,016 |
| Contribution | 175 | 133 | 462 | 440 |
| Adjusted EBITDA | 86 | 41 | 185 | 150 |
| Capital Expenditures | 4 | 3 | 26 | 29 |
| Parent Fees | 18 | — | 36 | — |
| Average Monthly Actives (thousands) | 878 | 902 | 909 | 957 |
Chief executive Adam Greenblatt said: “BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth. Our product is stronger than it’s ever been, with significant improvements to speed, stability, and responsiveness ahead of this football season.
“We have continued to prioritize our areas of strength – particularly our iGaming franchise – and remain operationally nimble as we navigate a highly competitive environment. Our underlying player fundamentals remain strong, and we are generating positive cash flow and Adjusted EBITDA. These put us on track to deliver against our 2026 guidance and support our confidence in the long-term outlook of our business.”
BetMGM paid out $68 million to its parent companies Entain and MGM Resorts in the third quarter, comprised of $18 million in parent fees and $50 million in distributed cash.
For the first nine months of 2026, BetMGM reported total NGR of $2,116 million (+5 per cent), made up of iGaming revenue of $1,447 million (+8 per cent), online sports revenue of $647 million (+4 per cent), and retail sports revenue of $23 million (-50 per cent).
Adjusted EBITDA in the nine-month period was 24 per cent ahead of the same period last year at $185 million.
BetMGM said that it expects to achieve its full-year 2026 guidance of between $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in AEBITDA, although at the lower end of the guidance ranges.
BetMGM also reiterated its confidence in delivering AEBITDA of $500 million in the coming years.
Shares in MGM Resorts International (NYSE:MGM) gained 0.27 per cent to close at $29.40 per share in New York Tuesday, while shares in Entain plc. (LSE:ENT) closed 0.26 per cent lower at 426.80 pence per share in London.