# BetMGM Q3 Revenue Rises 7% to $710 Million as Adjusted EBITDA Doubles

- URL: https://stocks.freetheai.org/news/betmgm-q3-revenue-rises-7-to-710-million-as-adjusted-ebitda-doubles-3ac833
- Published: 2026-10-13T11:00:00Z
- Category: earnings; sentiment: bullish; impact: medium
- Symbols: [LSE:ENT](https://stocks.freetheai.org/symbols/LSE-ENT), [NYSE:MGM](https://stocks.freetheai.org/symbols/NYSE-MGM)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
- How write-ups are made: https://stocks.freetheai.org/how-we-write
- Not financial advice: https://stocks.freetheai.org/disclaimer

BetMGM LLC, an online gaming and sports betting operator jointly owned by Entain plc (LSE:ENT) and MGM Resorts International (NYSE:MGM), reported third-quarter 2026 net revenue of $710 million, representing a 7% increase year-over-year. Growth was driven by iGaming net revenue of $483 million, up 6%, and online sports net revenue of $216 million, up 7%. Adjusted EBITDA rose 112% from the prior-year period to $86 million.

The quarter benefited from high player engagement during major sporting events like the World Cup, as well as product updates ahead of the football season. Operating efficiencies helped BetMGM maintain a 14% gross gaming revenue market share across its active markets, including 20% in iGaming and 8% in online sports betting. Strong cash generation enabled BetMGM to return $68 million to its parent companies in the third quarter, comprising $18 million in parent fees and $50 million in direct cash distributions.

BetMGM reiterated its full-year 2026 guidance, tracking toward the lower end of its target ranges of $2.9 billion to $3.1 billion for net revenue and $300 million to $350 million for adjusted EBITDA. Management also voiced confidence in delivering $500 million in annual adjusted EBITDA in future years. Investors will get further context on performance when Entain plc reports its third-quarter updates on October 15, 2026, followed by MGM Resorts International on October 28, 2026.

## Key points

- BetMGM third-quarter net revenue grew 7% year-over-year to $710 million.
- Adjusted EBITDA surged 112% year-over-year to $86 million for the quarter.
- Total cash paid to parent companies Entain plc and MGM Resorts International reached $68 million in Q3.
- Full-year 2026 guidance was reiterated toward the lower end of $2.9-$3.1 billion in net revenue.
- Overall market share in active jurisdictions stood at 14%, leading with 20% in iGaming.

## Questions and answers

### What were BetMGM's financial results for Q3 2026?

BetMGM reported Q3 2026 net revenue of $710 million, up 7% year-over-year, and adjusted EBITDA of $86 million, up 112%. iGaming revenue contributed $483 million, while online sports revenue totaled $216 million.

### Did BetMGM change its full-year 2026 financial guidance?

No, BetMGM reiterated its full-year 2026 guidance. It remains on track to hit the lower end of its target ranges, which forecast net revenue of $2.9 billion to $3.1 billion and adjusted EBITDA of $300 million to $350 million.

### Who owns BetMGM and how much cash did they receive in Q3 2026?

BetMGM is jointly owned by Entain plc and MGM Resorts International. During Q3 2026, BetMGM distributed $68 million in total cash to its parent companies, which included $18 million in parent fees and $50 million in cash distributions.