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Entain PLC on Tuesday raised guidance for its BetMGM joint venture reporting momentum seen towards the end of last year has continued into 2025. The Isle of Man based bookmaker, which owns Ladbrokes and Coral, said net revenue at BetMGM increased 36% year-on-year to $692 million in the second quarter of 2025, taking first half revenue to $1.35 billion, up 35% from $999 million a year prior. BetMGM, is a sports betting and iGaming firm which operates across North America, and is jointly owned by Entain and MGM Resorts International. Earnings before interest, tax, depreciation and amortisation at BetMGM reached $86 million in the quarter, up from just $8 million a year ago, with half-year Ebitda $109 million compared to a loss of $123 million. Second quarter Ebitda was underpinned by a positive contribution from both iGaming and Online Sports, Entain said. BetMGM Chief Executive Adam Greenblatt said: ‘BetMGM has seen a strong first half of the year, delivering significant revenue and Ebitda growth that is underpinned by the ongoing execution of our strategic plan. The momentum we have built since the second half of 2024 accelerated through the first half of 2025. Our iGaming business continues to deliver new records.’ As a result, Entain raised its 2025 guidance for BetMGM and expressed increased confidence in the path to $500 million Ebitda in the coming years. Entain expects 2025 net revenue of at least $2.7 billion and Ebitda of at least $150 million. In 2024, BetMGM reported revenue of $2.10 billion and a loss before interest, tax, depreciation and amortisation of $244 million. Shares in Entain rose 1.7% to 1,010.50 pence each in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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