BetMGM has revised its full-year revenue forecast for 2025 upwards to a minimum of $2.6 billion from its earlier prediction of between $2.4 billion and $2.5 billion, owing to robust performance in the first half of the year. This update was provided by Entain plc in a regulatory filing, emphasizing ongoing growth in online sports betting and iGaming.

The company reported a remarkable 34% year-on-year increase in net revenue during Q1, a trend that has reportedly continued into Q2 up to mid-June. Consequently, BetMGM anticipates its adjusted EBITDA to hit at least $100 million in 2025, a notable recovery from its EBITDA loss of $244 million in 2024.

“BetMGM is optimistic about the significant possibilities ahead,” stated Entain in the report. “Its enhanced business strategy and ongoing positive performance further boost its confidence in achieving future growth objectives, including a target of $500 million EBITDA in the upcoming years.”

The revenue enhancements were primarily fueled by increased player engagement and greater betting volumes. In Q1 alone, online sports betting revenue skyrocketed by 68%, with iGaming experiencing a 27% growth. BetMGM also received preliminary market access approval in Missouri, positioning itself favorably ahead of the state’s scheduled online sports betting launch in December.

The latest financial targets of BetMGM present a broader upward trend in the performance of its parent company, Entain. Entain noted a 9% growth in net gaming revenue for Q1 2025; however, the figure dipped to 6% when excluding BetMGM’s contributions.

Stella David, who was recently appointed as Entain’s permanent CEO after serving in an interim role, is expected to lead the next growth phase. A comprehensive breakdown of BetMGM’s Q2 results and half-year performance will be disclosed on July 29.