(AsiaGameHub) –   BetMGM announced its Q1 2026 revenue reached $696 million, an increase of 6% compared to the previous year, signifying a significant achievement as the company made its initial parent fee payments to MGM Resorts and Entain.

The primary driver of this growth was iGaming, which saw a 9% rise to $481 million, while online sports betting revenue grew by 4% to $203 million. BetMGM indicated that its sports betting results were somewhat dampened by favorable player outcomes and an intense promotional landscape.

CEO Adam Greenblatt commented:

“Despite a consistent beginning to the year, BetMGM is executing its strategic objectives… We are achieving sustainable, profitable expansion and distributing funds to our parent corporations.”

Adjusted EBITDA experienced a modest increase to $25 million, with contribution holding steady at $116 million. Furthermore, the company registered $3 million in parent fee disbursements, having satisfied the profitability criteria outlined in its joint venture agreement.

The average number of monthly active users decreased by 9% to 975,000, a trend BetMGM attributed to a more disciplined approach to customer acquisition and stricter player management. Nevertheless, user engagement improved, with both iGaming and sports segments demonstrating increased revenue per active player.

Subsequent to these results, BetMGM marginally revised its full-year 2026 revenue projection downwards to between $2.9 billion and $3.1 billion, while keeping its EBITDA guidance unchanged at $300 million to $350 million, specifically at the lower end of that spectrum.

The company’s ongoing strategy emphasizes the expansion of iGaming, targeting premium sports bettors, and forging content partnerships. This includes developing new exclusive titles and engaging in branded collaborations designed to enhance customer retention and market differentiation.