BetMGM Q3 Revenue Rises 7%, Outlook Maintained

BetMGM reported third-quarter net revenue of $710 million on October 13, 2026, up 7% year over year, as strong World Cup betting and a revamped sportsbook offset a decline in average monthly active players.

iGaming net revenue rose 6% year over year to $483 million, while online sports net revenue climbed 7% to $216 million, according to the operator's own third-quarter business update. 

Adjusted EBITDA more than doubled to $86 million, up 112% year over year, even as average monthly actives fell 3%, a decline the company said reflects more selective player acquisition and management rather than weaker demand.

Executive Comment

BetMGM chief executive Adam Greenblatt said the operator "delivered a strong Q3 as we continue to execute with discipline and generate profitable growth," pointing to improvements in product speed, stability and responsiveness ahead of the NFL season. 

He added that the company's iGaming franchise remains its primary area of strength and that it is generating positive cash flow and adjusted EBITDA heading into the final quarter of the year.

Guidance Reiterated

BetMGM reiterated its full-year 2026 guidance, with net revenue expected toward the lower end of its $2.9 billion to $3.1 billion range and adjusted EBITDA toward the lower end of its $300 million to $350 million range. 

The operator said it remains confident in reaching $500 million in adjusted EBITDA within the coming years, citing strong year-to-date performance and an expectation of accelerating profitability in the fourth quarter.

Alberta Launch Adds Momentum

BetMGM also pointed to a successful multi-product launch in Alberta, with per-player metrics trending above the operator's earlier Ontario launch, as it builds out its Canadian footprint alongside the US business. 

The company said new exclusive gaming content and an enhanced sportsbook experience supported engagement through the quarter, with the World Cup acting as a particular driver of online sports handle, which rose 3% year over year to $3.24 billion.

Context

The update follows a year in which BetMGM has expanded its responsible gaming tools alongside its product push, part of a wider effort by MGM Resorts and Entain, BetMGM's joint-venture parents, to balance growth with player protection as online betting competition intensifies heading into football season.