By SectorWire desk · · Updated
BetMGM recorded Q3 2026 net revenue of $710m, up 7% year-on-year. Adjusted EBITDA increased 112% to $86m. The operator said it remained on course for the lower end of its annual guidance.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
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The update gives investors a second-quarter revenue figure for BetMGM.
The update shows modest revenue growth falling short of market expectations.
The revised expectation delays BetMGM’s targeted earnings milestone.
Greenblatt expects prediction markets’ addressable market to contract before the Supreme Court hearing, while reporting BetMGM handle growth.
BetMGM’s retreat signals reduced focus on states without iGaming as prediction markets affect its business.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.