Revenue up, earnings down at Entain's BetMGM venture

(Sharecast News) - Entain and MGM Resorts' BetMGM reported second-quarter net revenue of $711m on Tuesday, up 3% year-on-year, as an 8% increase in iGaming revenue to $483m offset flat online sports revenue of $228m. Adjusted EBITDA fell 15% to $74m, while first-half net revenue rose 4% to $1.41bn and adjusted EBITDA declined 9% to $99m.

Average monthly active users fell 3% in the quarter, reflecting a more disciplined approach to customer acquisition and management.

BetMGM said it now expected full-year net revenue and adjusted EBITDA towards the lower end of its existing guidance ranges of $2.9bn to $3.1bn and $300m to $350m, respectively.

"BetMGM has started 2026 well and continues to execute with discipline," said chief executive Adam Greenblatt.

The group also said its target of $500m in adjusted EBITDA was now likely to be achieved beyond its previous 2027 expectation, citing the current market environment and regulatory complexity surrounding prediction markets.

At 1546 BST, shares in Entain were up 0.17% at 575.4p.

Reporting by Josh White for Sharecast.com.

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