Earnings release
Page 1
October 13 , 2026 BETMGM Q3 2026 BUSINESS UPDATE Strong Q3 with disciplined execution continuing to drive profitable growth BetMGM LLC ( " BetMGM " ) , a leading sports betting and iGaming operator across North America , jointly owned by Entain plc ( LSE : ENT ) ( " Entain " ) and MGM Resorts International ( NYSE : MGM ) ( " MGM Resorts " ) , is today providing an update on its Q3 2026 performance . • • • Strong Q3 performance reflects disciplined execution supported by new exclusive gaming content and enhanced sportsbook offering Net Revenue of $ 710 million , up + 7 % YOY ° ° ° о iGaming Net Revenue of $ 483 million ( + 6 % YoY ) and Online Sports Net Revenue of $ 216 million ( + 7 % YoY ) Adjusted EBITDA of $ 86 million , up + 112 % YoY Strong player engagement through Q3 including successful World Cup , driving continued growth in revenue and player values Successful multi - product launch in Alberta with per player metrics trending above Ontario launch BetMGM reiterates its FY 2026 guidance and remains on track to deliver towards the lower end of Net Revenue ( $ 2.9- $ 3.1 billion ) and Adjusted EBITDA ( $ 300- $ 350 million ) guidance ranges Adam Greenblatt , Chief Executive Officer of BetMGM , commented : " BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth . Our product is stronger than it's ever been , with significant improvements to speed , stability , and responsiveness ahead of this football season . We have continued to prioritize our areas of strength particularly our iGaming franchise - and remain operationally nimble as we navigate a highly competitive environment . Our underlying player fundamentals remain strong , and we are generating positive cash flow and Adjusted EBITDA . These put us on track to deliver against our 2026 guidance and support our confidence in the long - term outlook of our business . " Key Financial Highlights Q3 2026 BetMGM Financial Summary .1.2.3 Q3 $ millions , unless otherwise noted Net Revenue iGaming 2026 Q3 2025 ΥΟΥ Change 9M 2026 9M 2025 YOY Change $ 483 $ 454 + 6 % $ 1,447 $ 1,345 + 8 % Online Sports $ 216 $ 202 + 7 % $ 647 $ 624 + 4 % Handle4 $ 3,240 $ 3,159 + 3 % $ 10,948 $ 10,674 + 3 % GGR Hold % 10.7 % 10.1 % + 55bps 9.8 % 9.3 % + 60bps NGR Hold % 6.7 % 6.4 % + 30bps 5.9 % 5.8 % + 5bps Retail / Other $ 11 $ 11 + 5 % $ 23 $ 46 ( 50 ) % Total Net Revenue $ 710 $ 667 + 7 % $ 2,116 $ 2,016 + 5 % Contribution $ 175 $ 133 + 32 % $ 462 $ 440 + 5 % Adjusted EBITDA $ 86 $ 41 + 112 % $ 185 $ 150 + 24 % Capital Expenditures $ 4 $ 3 + $ 1 $ 26 $ 29 ( $ 3 ) Parent Fees $ 18 + $ 18 $ 36 + $ 36 Average Monthly Actives ( thousands ) 5 878 902 ( 3 ) % 909 957 ( 5 ) % Financial Highlights¹ Q3 Net Revenue of $ 710 million , up + 7 % YoY о ° iGaming Net Revenue up + 6 % YoY with player engagement momentum underpinned by the strength of our iGaming offering Online Sports Net Revenue up + 7 % YoY , with strong World Cup engagement and our enhanced sportsbook launched ahead of NFL season Average Monthly Actives down ( 3 ) % YoY , as expected , reflecting refined player acquisition and management5 Q3 Adjusted EBITDA of $ 86 million ( year - to - date $ 185 million ) with profitable growth continuing ° 0 Q3 iGaming Contribution $ 135 + million and Online Sports Contribution positive Total cash to parents of $ 68 million for Q3 consisting of $ 18 million of Parent Fees and $ 50 million of cash distributed to Entain and MGM Resorts 6,7 Podium position with 14 % GGR market share in active markets , including iGaming ( 20 % ) and Online Sports ( 8 % ) 8,9