BetMGM reported Q1 2026 revenue of $696m, up 6% year-on-year, marking a key milestone as the operator paid its first parent fees to MGM Resorts and Entain.
Growth was led by iGaming, which increased 9% to $481m, while online sports betting rose 4% to $203m. The company noted that sports performance was softened by player-friendly outcomes and a competitive promotional environment.
CEO Adam Greenblatt said:
Although it has been a steady start to the year, BetMGM is delivering on our strategic plan… We are generating sustainable, profitable growth and paying cash to our parent companies.
Adjusted EBITDA rose slightly to $25m, while contribution remained stable at $116m. The company also recorded $3m in parent fee payments as profitability thresholds were met under its joint venture structure.
Average monthly active users fell 9% to 975,000, which BetMGM linked to more disciplined acquisition and tighter player management. Despite the decline, engagement per user increased, with iGaming and sports both showing higher revenue per active player.
Following the results, BetMGM slightly lowered its full-year 2026 revenue forecast to $2.9bn–$3.1bn, while maintaining its EBITDA guidance of $300m–$350m, at the lower end of the range.
The company continues to focus on iGaming expansion, premium sports players, and content partnerships, including new exclusive titles and branded collaborations aimed at strengthening retention and differentiation.
