BetMGM reported $657 million in net revenue for the first quarter of 2025, up 34% year on year, and positive EBITDA of $22 million. The company said it expects 2025 net revenue of $2.4 billion to $2.5 billion and reaffirmed its guidance for positive EBITDA for the full year.
BetMGM reported positive first-quarter EBITDA and reaffirmed its full-year positive EBITDA guidance.
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BetMGM no longer expects to reach its $500m annual EBITDA target next year. The MGM Resorts and Entain joint venture reported mixed results.
BetMGM extended its MGM Live offering to Alberta on 20 August, streaming blackjack, roulette and baccarat from MGM Resorts International venues in Las Vegas. The company said the games are hosted at MGM Grand and Bellagio through its collaboration with Playtech.
People Incorporated has proposed acquiring the MGM Resorts International shares it does not already own for US$48.30 per share in cash, reportedly valuing the offer at US$18bn. The proposal is not a completed transaction; People Incorporated already holds roughly a quarter of MGM. The plan would be financed with existing cash, new debt and outside equity investment.
MGM may be preparing another attempt to acquire Entain, according to an unconfirmed report. The report says Apollo Global Management and CVC Capital may be working with MGM, while also considering a separate bid; no offer or agreement is confirmed.
bet365 launched in Michigan on 17 April, its 17th US state, alongside partnerships with the Detroit Red Wings and Detroit Tigers. The company said a possible Massachusetts launch could follow, but the supplied text gives no details of a decision or timetable.