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.
A potential bid could affect the ownership of Entain and its BetMGM joint venture, but no transaction has been confirmed.
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BetMGM reported third-quarter net revenue of $710 million, up 7% year on year, and adjusted EBITDA of $86 million, up 112%, according to the company update. It reaffirmed full-year 2026 guidance of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in adjusted EBITDA. The update also reported a 3% decline in monthly active customers to 878,000.
BetMGM reported revenue of $696m for Q1 2026, up 6% year on year, and said it accrued its first parent fees to MGM Resorts and Entain. The operator recorded $3m in fees, while adjusted EBITDA rose to $25m from $22m a year earlier. BetMGM lowered its 2026 revenue forecast to $2.9bn-$3.1bn and retained its adjusted EBITDA target of $300m-$350m, with expectations at the lower end.
BetMGM opened its first poolside sportsbook at Tailgate Beach Club, beside Mandalay Bay Resort and Casino in Las Vegas. The venue offers an outdoor betting window and access to the BetMGM app; the dayclub can accommodate up to 2,000 guests. BetMGM said the site joins its 10 other retail sportsbooks at MGM Resorts properties on the Las Vegas Strip.
BetMGM and MGM Resorts said they would contribute $320,000 to responsible gambling initiatives during September’s Responsible Gaming Education Month. The money will support research, state problem gambling councils, the 1-800-GAMBLER helpline and the Evive Foundation. The companies also reported that more than 3,000 employees had qualified as GameSense Advisors.
The 2028 Los Angeles Olympics will add flag football, baseball, softball, cricket, lacrosse and squash to a programme that already includes basketball, soccer and golf. The IOC estimated about €11bn was wagered globally on the 2024 Paris Games, more than 20% above Tokyo, and Entain said its Olympic betting volume doubled over the same period. DraftKings reported a 650% rise in World Cup bets against 2022 for the North American-hosted 2026 tournament.