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Increased online casino revenue leads to first profitable year for BetMGM
BetMGM reported a 24% increase in net revenue for fiscal year 2025, producing a positive bottom line for a full fiscal year for the first time.
BetMGM shared its financials for fiscal year 2025 and the numbers beat expectations in nearly every statistic, making for the company's best year of operation to date. FY2025 was the first year in which BetMGM paid out a cash dividend to its parent companies, elevating expectations for the future amid possible expansion of opportunities for BetMGM.
BetMGM shares 2025 financials with positive appraisal
The latest financial statement regarding BetMGM is full of good news for co-owners Entain and MGM Resorts. The biggest highlight of the announcement is that BetMGM returned $270 million to that pair of companies in the final quarter of 2025, a new record in that regard.
Net revenue for the fiscal year came up to $2.8 billion, which represented an increase of 33% compared to FY2024. That led to adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $220 million for FY2025.
That EBITDA mark amounts to an improvement of $464 million over FY2024, thus making FY2025 the first profitable fiscal year for BetMGM. A lot of that gain was due to the improved performance of BetMGM's casino apps for players in North America and the United Kingdom. BetMGM, for example, is one of the Google Pay casinos and makes it simple for eligible users to sign up and deposit.
Online casino revenue sparks record fiscal year
The financial document shows a 24% year-over-year uptick in revenue from iGaming, sitting at over $1.8 billion for FY2025. While revenue from sports wagering at BetMGM grew by a superior 63% in the same comparison, that gaming vertical contributed less than half as much revenue, at about $903 million.
BetMGM credited its "iGaming offering and enhanced player acquisition and retention approach" as the reason for the increase in online casino revenue. The statement also noted that average monthly active users for its iGaming platform were up 24% and those players were active during 14% more days each month on average during FY2025. BetMGM has low volatility slot machines and plenty of games for new players to try.
As a result, BetMGM has upgraded its outlook for the current fiscal year to include net revenues between $3.1 and $3.2 billion and adjusted EBITDA between $300 and $350 million. Driving more registrations with offers like the BetMGM Casino bonus code is part of the company's strategy to build on this momentum.
The statement denotes that "focused cross-sell initiatives and sports-branded IP games driving online sports players to iGaming offering" will be crucial, especially if BetMGM gets new opportunities in emergent markets like Alberta and Maine. For the moment, BetMGM can celebrate its achievements from 2025.
