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- BetMGM reported a 7% year-over-year net revenue increase to $710 million in Q3 2026, driven by a 6% climb in iGaming revenue and a steady increase in sports betting handle fueled heavily by the World Cup.
- The operator saw its adjusted EBITDA skyrocket 112% to $86 million for the quarter, keeping the company on track to hit its full-year guidance as it capitalizes on structural sportsbook upgrades and a successful expansion into the Alberta market.
BetMGM reported $710 million in net revenue for the third quarter of 2026, a 7% year-over-year increase that the operator said was driven by World Cup wagering, stronger product performance, and continued iGaming momentum.
The update matters because it showed growth across both of BetMGM’s main business lines while profitability improved sharply. The joint venture of MGM Resorts and Entain also said it remains on track to hit the lower end of its full-year guidance.
Adjusted EBITDA rose 112% to $86 million in the quarter. Online sports betting revenue increased 7% to $216 million, while iGaming net revenue climbed 6% to $483 million.
BetMGM CEO Adam Greenblatt said in a statement that the company “delivered a strong Q3 as we continue to execute with discipline and generate profitable growth.”
Sports betting metrics improved in Q3
BetMGM reported sports betting handle of $3.24 billion in the quarter, up 3% from a year earlier. The company said the period was helped by heavy World Cup betting activity.
At the same time, sportsbook hold improved. Gross revenue hold rose to 10.7% from 10.1% a year earlier, while net revenue win rate increased to 6.7% from 6.4%.
The operator also pointed to higher-value customer engagement. BetMGM said player acquisition targeting and focus on its “premium mass” segment helped drive a 13% year-over-year increase in handle per active player and an 18% increase in gross revenue per active.
Greenblatt said BetMGM’s sportsbook product is “stronger than it’s ever been,” citing improvements in speed, stability, and responsiveness ahead of football season, along with technology upgrades, rewards changes, and new NFL and college football betting tools.
iGaming and Alberta launch support full-year outlook
On the side of online casino in Canada, BetMGM said average monthly actives in iGaming rose 2% in Q3, while iGaming net revenue per active increased 4%. The company also said new Game of Thrones-themed products produced the most successful game franchise launch in its history across Ontario and Alberta.
BetMGM added that a refresh of the Borgata brand helped fuel a 28% increase in average daily actives versus previous levels.
The company launched in Alberta in July and said per-player metrics were trending above its Ontario launch, though it did not provide specific figures.
For the first nine months of 2026, BetMGM reported $2.11 billion in net revenue, up 5% year over year. It maintained full-year guidance of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in Adjusted EBITDA.
Greenblatt said BetMGM’s “underlying player fundamentals remain strong” and that the results keep the company on track to deliver against its 2026 guidance.
Source: As reported by Brad Senkiw.
