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BetMGM CEO: More states with legal online casinos create 'mic-drop moment'
Adam Greenblatt expressed optimism that more states will legalize online casinos soon, which will only help BetMGM Casino build upon a record-setting year.
No year was as successful for BetMGM than 2025, during which time the legal online casino and sports betting operator reported record-setting statistics across the board, according to a recent earnings call. But there is still room to grow, according to BetMGM CEO Adam Greenblatt, who remains hopeful that more states will legalize casino apps in the near future and help boost BetMGM Casino is even more unprecedented success.
More states with legal casino apps 'fundamentally changes' outlook of BetMGM
Powered by its sportsbook and BetMGM Casino app, BetMGM enjoyed its best year of operation to date with net revenue clocking at $2.8 billion for a 33% increase of fiscal year 2024. That includes a 24% year-over-year increase from real money online casino gaming, which generated over $1.8 billion in revenue.
According to the financial report, BetMGM Casino's average monthly active users reflected a 24% spike year-over-year, with players active on 14% more days each month than the previous year. All of this was part of a year that exceeded expectations, according to BetMGM CEO Adam Greenblatt.
In fact, the CEO said, December 2025 represented BetMGM's best month ever, including the final week of the year that was the best on record.
All of that has led to a rosy outlook from BetMGM officials – especially with more states potentially legalizing online casinos. As Greenblatt put it: The biggest "dial-mover" for the company is more state with iGaming. That, he added, is "the mic-drop moment. That's bold and underlined, with a full stop at the end. That's the thing that fundamentally changes our outlook."
Virginia online casinos could push BetMGM to greater heights
Greenblatt noted that BetMGM Casino stands as the "powerhouse and anchor" of the company's business, with the platform carving out a 21% revenue share for online casino gaming. That includes users seeking out blackjack odds and chances to win other games.
That was all without new online casino markets going live, and why Greenblatt has an optimistic outlook moving forward. Already this year, Maine legalized online casinos for a potential launch in early 2027.Â
While the Maine online casino industry is on the radar, Greenblatt noted that the state's low population combined with a market that will only allow four online casino platforms do not create much potential for BetMGM. As the CEO said, Maine won't "move the dial for us one way or the other."
Greenblatt has his eyes elsewhere. For starters, Alberta is looking to launch casino games online later this year. In the US, meanwhile, Virginia advanced a bill in the Senate to legalize online casinos. Greenblatt said that BetMGM is remaining positive for further movement in Virginia, which could create more record-setting success by 2027.
