BetMGM Q3 Adjusted EBITDA Jumps 112% to $86M
MGM is trading near its 52-week low of $28.72 (2.5% above the low).
Summary
BetMGM, the 50/50 joint venture between MGM Resorts and Entain, reported Q3 adjusted EBITDA of $86 million, up 112% year-over-year, and Q3 2026 net revenue of $710 million, up 7%. The company is on track to deliver toward the lower end of its FY26 revenue guidance of $2.9B-$3.1B and adjusted EBITDA guidance of $300M-$350M. This is the first concrete quarterly profit metric from the digital unit since the July guidance cut, and it suggests the business is stabilizing. The figure is a material positive for MGM's digital segment, which took a $111 million goodwill impairment in Q2. No revenue or net income figures were disclosed in the headline, so the full picture remains incomplete. The stock is trading near its 52-week low, so this beat could support a relief rally.
At the time of this announcement, MGM was trading at $29.44 on NYSE in the Trade & Services sector, with a market capitalization of approximately $7.4B. The 52-week trading range was $28.72 to $51.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.