BetMGM’s next update arrives on October 13. MGM Resorts announced the date on October 6, setting a 9 a.m. Eastern Time Q&A webcast. The BetMGM Q3 update covers July through September. It has not given us the results yet, so the comparison starts with the last published figures, from July 28.
Editorial illustration of BetMGM’s October 13 reporting date; not an official company document.
Casino carried more of the revenue
Q2 net revenue was $711 million, a 3% increase year over year. Within it, iGaming rose 8% to $483 million. Online sports was flat at $228 million. These are different growth stories inside the same total.
The casino share works out at about 68%, using 483 divided by 711 and rounding. That is our calculation from Q2 data. It shows why the new product split will matter: a change in the total cannot, by itself, tell readers whether sports gained ground or casino continued to drive growth.
Read the period before comparing EBITDA
BetMGM reported adjusted EBITDA of $74 million for Q2 and $99 million for the first half. The first-half amount already includes Q2. Adding the two would double-count April through June. Keep the full name of the measure, too; adjusted EBITDA is not net profit.
July’s update also reported average monthly active users down 3% year over year and described stricter acquisition. Higher revenue therefore came with a smaller active-user measure. The next statement may help explain whether that pattern continued, particularly through comments on attracting and retaining customers.
Our report on the Pittsburgh Steelers partnership gives background on one of BetMGM’s marketing agreements. It is a useful connection to the brand’s sports presence. The quarterly totals cover the wider business, however, and do not establish what this particular partnership earned.
The outlook had a lower-end caveat
In July, BetMGM’s annual guidance was $2.9–$3.1 billion in net revenue and $300–$350 million in adjusted EBITDA for 2026. Management expected the lower end of both ranges. That phrase needs to stay beside the numbers when readers compare the next update.
A new range would be a clear change. A different expected position within the same range would also matter. Read the surrounding wording on October 13 before calling a forecast unchanged. These are annual expectations, separate from the actual quarter being reported.
Leave room for the parent-company reports
BetMGM is a 50/50 venture between MGM Resorts and Entain. The notice lists Entain’s October 15 update and MGM Resorts’ October 28 results. Their other operations sit outside this venture. Start with BetMGM’s October 13 release, then read the parent statements for context rather than treating the three dates as a single report.
