Entain raises BetMGM guidance amid sustained revenue growth

• Entain now anticipates BetMGM’s net revenues will total at least $2.6bn in 2025

By HARRY WISE

Updated: 09:46 BST, 16 June 2025

Entain has lifted annual guidance for its BetMGM business thanks to continued online growth in the US over the second quarter.

The Ladbrokes and Coral owner now anticipates the US joint venture’s net revenues will total at least $2.6billion in 2025, compared to a prior forecast of $2.4billion to $2.5billion.

It credited the upgrade to higher punter bets in internet gaming and online sports, and said trading was ‘broadly consistent’ with the 34 per cent jump in net revenues achieved during the first quarter.

Entain also forecasts BetMGM delivering a minimum of $100million in earnings before nasties, up from previous predictions that it would be positive.

BetMGM is a joint venture between Entain and Las Vegas-based casino and hotel giant MGM Resorts.

It was founded in 2018 following the US Supreme Court’s repeal of the Professional and Amateur Sports Protection Act, which effectively banned sports gambling across most of the United States.

Outlook: Ladbrokes owner Entain has hiked annual guidance for its BetMGM business

The group achieved a net turnover of $2.1billion last year, a 7 per cent annual increase, although losses nearly quadrupled from $62million to $244million.

BetMGM blamed the soaring losses on investments aimed at attracting new punters and a $50million negative impact from ‘highly customer favourable sports results’ in December.

It took until the first quarter of 2025 for BetMGM to make a profit, when it reported $22million in earnings before nasties despite a $30million hit from March Madness, the US college basketball tournament.

Richard Hunter, head of markets at Interactive Investor, said Entain’s ‘gamble to conquer overseas markets in addition to its core UK offering is showing signs of paying off, with potentially the largest target of all exhibiting particular promise’.

He added: ‘Its joint venture with BetMGM has recently become earnings positive, although it has been a tough slog for the group to get to this stage, where promotional investment has been something of a necessary headwind.’

Entain recently appointed Stella David as its permanent chief executive, following the departure of the previous boss, Gavin Isaacs, after just five months at the helm.

David previously ran Scotch whisky distiller William Grant & Sons and was chair of footwear retailer Clarks and cinema operator Vue International.

She currently chairs Norwegian Cruise Line and is a non-executive director at spirits maker Bacardi, in addition to her role at Entain.

Entain shares were 8.5 per cent higher at 815.6p on Monday morning, making them the FTSE 100 Index’s best performer.

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Entain raises BetMGM guidance amid sustained revenue growth

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