BetMGM, owned by MGM Resorts International and Entain, released its Q1 2025 results, revealing a 34 percent increase in net revenue.
“2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan,” rejoiced Adam Greenblatt (pictured above), Chief Executive Officer of BetMGM, adding: “The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale.”
iGaming and online sports drive growth
According to the company, iGaming and online sports betting were the two main drivers of these strong results.
“BetMGM’s strong momentum from the second half of 2024 continued during the first quarter of 2025, fuelled by its leading iGaming offering, strengthened sports product, and refined approach to player management,” explained Entain in a press release.
The numbers speak for themselves: net revenue for Q1 increased by 27 percent in iGaming and by 68 percent in online sports betting.
“In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavourable sports outcomes during key moments in the quarter,” added Greenblatt.
A focus on digital strategy
Over the past few years, BetMGM has heavily invested in its digital strategy. It was the first operator to launch an omnichannel betting wallet in Nevada, allowing bettors to play seamlessly both online and in-person at retail sportsbooks. A strategy that has paid off — the initiative contributed to a 60 percent increase in first-time depositors compared to the prior NFL season in Nevada.
Moreover, as of 28 April 2025, following Pennsylvania’s recent entry into the Multi-State Internet Gaming Agreement (MSIGA), BetMGM has unified its poker player pools across three states. Players in Pennsylvania, New Jersey, and Michigan can now compete together in larger, shared pools.
Optimistic about the future
Buoyed by these encouraging results, BetMGM says it is ready to continue growing. “As we approach May, we remain confident in achieving full-year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter,” concluded Greenblatt.
