BetMGM Q3 Revenue Rises 7% to $710M, Guidance Reiterated
MGM is trading near its 52-week low of $28.72 (2.6% above the low) on light trading volume (0.2× avg).
Summary
BetMGM, the joint venture between MGM Resorts and Entain, reported Q3 net revenue of $710 million, up 7% year-over-year, with iGaming revenue up 6% and online sports revenue up 7%. The company reiterated FY26 guidance towards the lower end of $2.9 billion to $3.1 billion in revenue and $300 million to $350 million in adjusted EBITDA, while expressing confidence in reaching $500 million adjusted EBITDA in coming years. This follows the July guidance cut and provides concrete Q3 figures that show stabilization. Entain shares rose 4.1% on the news, reflecting positive market reaction to the JV's performance.
At the time of this announcement, MGM was trading at $29.47 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: ShareCast.