Jun. 16 at 10:04 AM
$MGM $GMVHY BetMGM raises FY25 revenue view to at least
$2.6B from
$2.4B-
$2.5B
Sees FY25 EBITDA at least
$100M. BetMGM, jointly owned by MGM Resorts (MGM) and Entain (GMVHF), is providing an update to FY25 guidance. BetMGM's momentum seen during Q1 has continued for Q2, with net revenue growth across both iGaming and online sports, driven by handle growth. Trading for the period is broadly consistent with 34% net revenue growth delivered in Q1.
FY25 net revenue is now expected to be at least
$2.6B up from the previous guidance range of
$2.4B-
$2.5B. FY25 EBITDA is now expected to be at least
$100M up from the previous guidance to be EBITDA positive. Reiteration of the expectation that online sports will be contribution positive for FY25, in addition to strong contribution from iGaming.
