Entain upgrades BetMGM FY25 guidance

(Sharecast News) - Bookmaker Entain upgraded FY25 guidance for its North American business, BetMGM, on Monday, noting that continued "strong momentum" had supported "increased confidence" in its performance. Entain said BetMGM net revenue was now expected to be at least $2.6bn in FY25, up from the previous guidance range of $2.4bn-2.5bn, while underlying earnings were pegged to be no less than $100.0m, ahead of previous guidance to be EBITDA positive.

The FTSE 100-listed group also reiterated the expectation that its online sports unit will deliver a positive contribution in FY25, in addition to a strong showing in its iGaming division.

"BetMGM remains excited about the significant opportunities ahead. Its strengthened business, revised strategic approach, and performance momentum, further reinforce its confidence in future growth prospects and pathway to $500.0m EBITDA in the coming years," said Entain.





Reporting by Iain Gilbert at Sharecast.com