BetMGM Q3 revenue rises, maintains annual outlook
MGM•BetMGM reported third-quarter revenue of $710 million, up 7% from a year earlier, and maintained its 2026 outlook, expecting revenue and adjusted EBITDA toward the lower ends of its ranges.
1. Revenue and outlook
BetMGM said third-quarter net revenue rose to $710 million from $667 million a year earlier, driven by strong betting during the World Cup and a revamped sportsbook ahead of the NFL season. The company reiterated its 2026 guidance, expecting net revenue toward the lower end of $2.9 billion to $3.1 billion and adjusted EBITDA toward the lower end of $300 million to $350 million. It said it was confident of reaching $500 million in adjusted EBITDA in the coming years.
2. Competitive pressure
Licensed U.S. sportsbook operators face growing pressure from prediction market platforms such as Kalshi. BetMGM rivals FanDuel, DraftKings and Fanatics have launched similar prediction market products.
