BetMGM reports strong Q3 2026 financial results

• BetMGM posted its Q3 2026 financial results
• In Q3, the company recorded a 6% increase in iGaming revenue, while sports betting revenue grew by 7% year-over-year
• Adam Greenblatt, BetMGM’s Chief Executive Officer, comments

The leading sports betting and iGaming operator in North America, jointly owned by MGM Resorts International and Entain plc, BetMGM, enjoyed strong third quarter results.

On Tuesday, the company released its Q3 2026 figures, pointing to a single-digit uptick in net revenue as a result of the successful completion of strategic objectives.

Key objectives and discipline drive BetMGM's results

In total, BetMGM’s net revenue in Q3 this year soared by 7% year-over-year to $710m.

A breakdown of the company’s third quarter performance shows online sports net revenue increased by 7% year-over-year to $216m, complemented by iGaming net revenue growth of 6% year-over-year to $483m.

On the other hand, adjusted EBITDA in Q3 2026 increased by 112% year-over-year to $86m, BetMGM’s latest financial report reveals.

The leading betting and iGaming operator enjoyed strong performance during the World Cup, recording good player engagement and boosting revenue.

During the most recent trading period, the company successfully executed its multi-product launch in Alberta and recorded per-player metrics trading above its launch in Ontario.

Adam Greenblatt, BetMGM’s Chief Executive Officer, commented: "BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth."

He pointed to the company’s products, confirming they stand out with stability, speed, and responsiveness, while acknowledging BetMGM is prepared for this football season.

"We have continued to prioritize our areas of strength – particularly our iGaming franchise – and remain operationally nimble as we navigate a highly competitive environment. Our underlying player fundamentals remain strong, and we are generating positive cash flow and Adjusted EBITDA," Greenblatt added.

BetMGM maintains growth trajectory since the start of 2026

Focusing on the bigger picture, BetMGM reported 5% total net revenue growth in the first nine months of 2026, compared to the corresponding period last year.

In total, the company posted $2.11bn in net revenue through the end of September this year, an increase compared to the $2.01bn result from 2025.

A breakdown shows iGaming revenue in the first nine months of 2026 increased by 8% year-over-year to $1.45bn.

Equally as important, online sports revenue recorded 4% year-over-year growth to $667m during the same period.

Considering the latest report, BetMGM reiterated its FY 2026 guidance, confirming it remains on track to deliver results toward the lower end of net revenue of $2.9bn to $3.1bn and adjusted EBITDA between $300m and $350m.

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