2025 Was a Record Year for BetMGM, Which Exceeded All Expectations

Online gaming and sports betting giant BetMGM has published its financial results for 2025, highlighting performance that exceeded its leadership’s expectations. As revenue continued to experience double-digit growth, the company turned EBITDA positive, sparking optimism about its long-term success.

BetMGM Remains on Track to Achieve EBITDA of $500M in 2027

The report outlined FY 2025 performance that exceeded expectations. The company attributed its success to the result of its various strategic initiatives across its iGaming and online sports divisions.

The company’s net revenue for the year reached $2.8 billion, marking an increase of 33% year-on-year. Both the iGaming and sports betting divisions experienced double-digit growth. The former vertical’s net revenue for 2025 increased by 24%, while the latter division experienced growth of a staggering 64% year-on-year.

In 2025, BetMGM turned EBITDA positive, reporting EBITDA of $220 million, which corresponds to an increase of $464 million from 2024.

Additional highlights included the successful execution of BetMGM’s customer retention strategy, which contributed to the strong figures.

In the meantime, BetMGM returned $270 million to its parent companies, Entain and MGM Resorts, in Q4 2025 alone.

BetMGM also published its forecasts for 2026, saying that it expects net revenue of between $3.1 billion and $3.2 billion, as well as adjusted EBITDA of between $300 million and $350 million. Additionally, the company reaffirmed that it remains bullish on achieving adjusted EBITDA of $500 million in FY 2027.

CEO Adam Greenblatt Hails the Record Year

Adam Greenblatt, BetMGM’s chief executive officer, addressed the results, calling 2025 a “record year” for the business. He said that the final quarter of the year saw record performances across the board, allowing his team to wrap up 2025 on a very strong note.

Greenblatt also commented on the company’s long-term ambitions, which have been reaffirmed thanks to BetMGM’s meaningfully improved profitability.

Looking ahead to 2026 and beyond, the strong underlying metrics and health of the business continue to reinforce our confidence in our outlook as we enter the next phase of growth. As the industry continues to evolve, we will continue to focus on winning the BetMGM way.

Adam Greenblatt, BetMGM CEO

This report comes shortly after the company updated its terms of service to prohibit athlete harassment and warn players that harassing athletes online or in-person could cause them to lose their betting accounts.

While BetMGM has never tolerated such abuse, the latest changes added wording that explicitly mentions athlete harassment amid a spike in cases of disgruntled bettors harassing professional sports players online.