By SectorWire desk ·
The report said that BetMGM no longer expects to reach $500m in annual EBITDA in 2027. It attributed the delay partly to competition from prediction markets.
The revised expectation delays BetMGM’s targeted earnings milestone.
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BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
The update gives investors a second-quarter revenue figure for BetMGM.
The update shows modest revenue growth falling short of market expectations.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
BetMGM and MGM Resorts’ funding supports gambling research, state councils, the 1-800-GAMBLER helpline and the Evive Foundation.