In the second quarter of 2026, BetMGM reported some growth in terms of revenue from the previous year. However, the revenue growth was only minor and the outlook of the company regarding profitability in the long run was downgraded due to the pressure the earnings were subject to.
The revenue of the company has increased by 3% year-on-year, however, the adjusted EBITDA has suffered a decline of 15% and is now equal to 74 million dollars as compared to 86 million dollars in the second quarter of 2025. In the first half of the year, the adjusted EBITDA has gone down by 9% compared to the respective period of the previous year.
In light of the results, BetMGM revised its previous forecast of achieving the target of 500 million dollars of adjusted EBITDA by the year 2027 and has now stated that it will not reach that goal in the near future.
The company management explained the delay by the current market conditions particularly mentioning the growing influence of the prediction market and existing uncertain regulations. Thus, BetMGM anticipates its 2026 net revenue and adjusted EBITDA results to be within the lowest thresholds of the company’s existing prognosis of $2.9-3.1 billion and $300-350 million respectively.
CEO Adam Greenblatt said:
Competition is fierce, it’s tough out there. On the OSB side, the primary macro impacts are prediction markets, but then of course, gas prices don’t help, and consumer discretionary income is a factor. Trying to parse out those impacts is very difficult. Anyone who’s been to Vegas, you just have to land to understand the strength of the brand in Vegas, we benefit from that impact, in terms of BetMGM directly, we recruit thousands of players weekly in MGM properties.
Looking ahead, the operator expects continued growth from product enhancements, the expansion of its Borgata brand and early momentum in Alberta’s newly regulated online gaming market.
